List of Oceanian countries by GDP

Source International Monetary Fund World Economic Outlook (April-2021)
Date07 October 2021

Australia is the largest economy in Oceania, followed by New Zealand and Papua New Guinea. These three together hold a huge 99.5% share of the South American economy. Tuvalu is the smallest economy in Oceania.

One economy of Oceania would have gdp above $1 trillion, and two would have an economy of above $100 billion. In 2021, the Marshall Islands and Kiribati will overtake Palau. None of the Oceanian economies are in the list of top ten largest economies globally, and two economies are within the top 50 world gdp ranking.

Of 14 economies, gdp (nominal) of 14 would increase, and four economies would decrease in 2021 compared to 2020. Australia ($258 bn) and New Zealand ($34 bn) are top contributors. The six decliners would be Samoa, Palau, Micronesia, and Tonga.

In ppp data, There would be only no change in ppp ranking. Only one Oceanian economy, Australia, is in the top 50 world gdp ranking.

Nine economies have higher GDP on a PPP basis, and five have higher on a nominal basis.

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GDP (Nominal)

Country/Economy GDP (billions of $) Share (%) Rank
20202021ChangeOceaniaWorld OceaniaWorld
Australia1,359.3701,610.560251.19085.41.70113
Fiji4.4944.6390.1450.2420.004894156
Kiribati0.1980.2320.0340.01220.0002411192
Marshall Islands0.2440.241-0.0030.01230.0002510191
Micronesia0.4070.404-0.0030.02120.000439190
Nauru0.1140.1330.0190.007020.0001413194
New Zealand209.384247.64038.25612.80.261250
Palau0.2570.208-0.0490.01210.0002212193
Papua New Guinea23.27926.4613.1821.290.02793106
Samoa0.8120.780-0.0320.03970.000827185
Solomon Islands1.5621.6490.0870.08680.001745177
Tonga0.4990.5010.0020.02680.000538189
Tuvalu0.0550.0650.0100.003010.0000714195
Vanuatu0.9320.9990.0670.04810.001056183
Oceania 1,601.607 1,894.512 292.905 2
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GDP (PPP)

Country/Economy GDP (billions of Int. $) Share (%) Rank PPP/Nom
20202021ChangeOceaniaWorld OceaniaWorld
Australia1,330.4701,427.26096.79083.60.9871190.979
Fiji10.82610.767-0.0590.6570.0074441572.409
Kiribati0.2610.2750.0140.01590.00019101911.318
Marshall Islands0.2110.2160.0050.01240.00015121920.865
Micronesia0.3600.3610.0010.02090.0002591900.885
Nauru0.1270.1340.0070.007790.00009131941.114
New Zealand215.899234.99219.09313.40.1622641.031
Palau0.2590.215-0.0440.01350.00015111931.008
Papua New Guinea33.64235.2781.6362.090.024431331.445
Samoa1.1521.107-0.0450.06360.0007761851.419
Solomon Islands1.6081.6860.0780.09810.0011751821.029
Tonga0.6270.6370.0100.03640.0004481891.257
Tuvalu0.0540.0570.0030.003070.00004141950.982
Vanuatu0.8020.8410.0390.04820.0005871880.861
Oceania 1,596.298 1,713.826 117.528 1.18 0.905