List of Oceanian countries by GDP

Australia is the largest economy in Oceania, comprising over 85% of the continent's gross domestic product (nominal).

  Australia (85.2%)

  New Zealand (12.5%)

  Papua New Guinea (1.7%)

  Other (0.6%)

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries in Oceania are sorted by nominal GDP estimates based on 2017 data from The World Factbook by the Central Intelligence Agency.

The figures presented here do not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. ^[1] Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference to the standard of living of its population. ^[2] Therefore, these figures should be used with caution.

Some countries/regions may have citizens which are ^[3] on average wealthy. These countries/regions could appear in this list as having a small GDP. This would be because the country/region listed has a small population, and therefore small total economy; the GDP is calculated as the population times market value of the goods and services produced per person in the country. ^[4]

Comparisons of national wealth are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. PPP largely removes the exchange rate problem, but has its own drawbacks; it does not reflect the value of economic output in international trade, and it also requires more estimation than nominal GDP. ^[5] On the whole, PPP per capita figures are more narrowly spread than nominal GDP per capita figures. ^[6]

Oceanian countries by GDP

Data are from the IMF and are for the year 2024. ^[7]

Countries in Oceania by gross domestic product

Location	GDP (mil.$)	GDP per cap.	PPP (mil.$)	PPP per cap.
Australia	1,685,665	62,596	1,779,967	66,098
Fiji	5,970	6,490	16,101	17,505
Kiribati	260	2,052	311	2,457
Marshall Islands	293	6,443	277	6,085
Micronesia	492	4,670	435	4,129
Nauru	155	11,910	148	11,352
New Zealand	247,535	47,223	288,484	55,034
Palau	322	18,209	308	17,448
Papua New Guinea	32,890	2,624	44,885	3,581
Samoa	996	4,889	1,403	6,888
Solomon Islands	1,794	2,367	1,867	2,464
Tonga	581	5,842	745	7,491
Tuvalu	67	6,113	66	6,076
Vanuatu	1,263	3,658	1,030	2,983

See also

• List of countries by GDP (PPP)
• List of countries by GDP (PPP) per capita
• List of countries by GDP (nominal)
• List of countries by GDP (nominal) per capita

References

1. Moffatt, Mike. "A Beginner's Guide to Purchasing Power Parity Theory". About.com . IAC/InterActiveCorp . Retrieved 31 May 2014.
2. Ito, Takatoshi; Isard, Peter; Symansky, Steven (January 1999). "Economic Growth and Real Exchange Rate: An Overview of the Balassa-Samuelson Hypothesis in Asia" (PDF). Changes in Exchange Rates in Rapidly Development Countries: Theory, Practice, and Policy Issues. National Bureau of Economic Research . Retrieved 1 June 2014.
3. "IMF World Economic Outlook (WEO), October 2016: Subdued Demand: Symptoms and Remedies". www.imf.org. Retrieved 2017-02-19.
4. "What is GDP and why is it so important?". Investopedia . IAC/InterActiveCorp. 26 February 2009. Retrieved 30 May 2014.
5. Callen, Tim (28 March 2012). "Purchasing Power Parity: Weights Matter". Finance & Development . International Monetary Fund . Retrieved 30 May 2014.
6. Callen, Tim (28 March 2012). "Gross Domestic Product: An Economy's All". Finance & Development . International Monetary Fund . Retrieved 31 May 2014.
7. "Download World Economic Outlook database". imf.org. Oct 2023. Retrieved 1 Mar 2024.