The Kiribati economy pushes forward with quiet strength in 2024, battling rising seas and far-off markets in this wide-spread Pacific nation of atolls and islands. With 135,763 people living across 33 coral islands, the country posted a $0.31 billion GDP and 2.5% real growth, according to World Bank and IMF reports. This marks a solid recovery from Kiribati economy 2020 when COVID slashed growth to -8.7%. Per capita income stands at $2,003, offering basic needs like free schools and health care, though many still rely on fishing and family help. The Kiribati economy runs on fishing licenses (over 50% of revenue), foreign aid (30%), and small local sales. Kiribati economy 2024 recorded imports of $0.29 billion—mostly food, fuel, and machines—and exports of just $0.02 billion, creating a large trade gap that aid and remittances fill. Public debt remains very low at $0.035 billion (11% of GDP), giving room to borrow for climate projects. No gold or silver reserves exist, but the Revenue Equalization Reserve Fund (RERF) holds over $600 million—built from past phosphate mining—to protect against shocks. Looking ahead, Kiribati economy experts predict 2.8% growth in 2025, fueled by higher fish quotas, Australian aid, and solar power rollout. The Kiribati economy overview paints a picture of a small, sea-dependent system fighting for survival and slow wins.
Table of Facts and Figures: Easy-to-Read Numbers for the Kiribati Economy
This vertical table breaks down 2024 data for the Kiribati economy using trusted sources like the World Bank1, IMF2, and national budget reports. Each remark explains what the number means for daily life, connects to past years like Kiribati economy 2022 (1.5% growth) and Kiribati economy 2021 (-1.3%), and gives clear tips for Kiribati economy improvement in 20253.
| Metric | Value | Remarks |
| GDP 2024 | $0.31 B | Total money made from fishing licenses ($0.16 B), aid ($0.09 B), and local work ($0.06 B). Up 10% from $0.28 B in 2023. Covers free health and roads for 135,763 people. Kiribati economy overview: Small but growing. Tip for 2025: Add eco-tourism to bring $15 M more. |
| Growth 2024 | 2.50% | Real increase from 1.5% in Kiribati economy 2022. Better than Kiribati economy 2020 (-8.7%) and Kiribati economy 2021 (-1.3%). Aid and fish deals help. Kiribati economy 2024 shows rebound. Plan 2.8% in 2025 with green energy. Tip: Train 3,000 youth in solar jobs for faster growth. |
| Population 2024 | 135,763 | Half live in South Tarawa (70,000). Young people (60% under 30) need work. Many move to Australia. Kiribati economy tip: Build sea farms to keep 1,000 at home. |
| Per Capita 2024 | $2,003 | Money per person, up 2.5% from 2023. Pays for rice and boats. Still low—poverty at 20%. Kiribati economy fix: Fish exports can raise $100 per person. |
| % of World GDP 2024 | 0.00% | Tiny global slice, but fishing zone (3.5 M sq km) matters. Ties to australia-economy for aid. Kiribati economy tip: Use the ocean for carbon credits. |
| Imports 2024 | $0.29 B | Food ($0.18 B), fuel ($0.06 B), machines ($0.03 B). Up 5% from last year. Ships from Fiji and Australia. Kiribati economy save: Grow local veggies to cut $30 M. |
| Exports 2024 | $0.02 B | Fish ($0.015 B), copra ($0.003 B), crafts ($0.002 B). Down 5% due to boat limits. Kiribati economy 2024 gap big. Tip: Sell more tuna to Japan for $10 M. |
| Debt 2024 | $0.035 B | Just 11% of GDP—very safe. No big loans needed. Kiribati economy use: Borrow $20 M for solar panels. |
| Gold Reserves 2024 | 0 | No gold. Cash in RERF ($600 M) acts as savings. Kiribati economy tip: Invest in green bonds. |
| Silver Reserves 2024 | 0 | No silver. Focus on the sea. Kiribati economy idea: Make shell jewelry for tourists—add $2 M. |
These numbers show the Kiribati economy is tiny, sea-focused, and aid-supported.
The bar chart makes it clear: imports almost match GDP, while exports are very small. Debt stays low.
This pie chart shows fishing licenses make up half of all money in the Kiribati economy.
Major Imports and Exports: What Kiribati Buys and Sells
Trade plays a key role in the Kiribati economy, but exports are much smaller than imports. In 2024, exports reached $0.02 billion while imports hit $0.29 billion, leaving a $0.27 billion gap covered by aid and remittances.
Top Exports
- Fishing Licenses ($0.015 B)
- Foreign boats pay to fish in Kiribati waters. Main buyers: Japan, Taiwan, South Korea. Up 8% in 2024.
- Copra (Dried Coconut) ($0.003 B)
- Sold to Australia and Fiji for oil and food.
- Handicrafts and Shell Items ($0.001 B)
- Tourists and online buyers love them.
- Seaweed and Salt ($0.001 B)
- Small but growing in Asia.
Top Imports
- Food and Drinks ($0.18 B)
- Rice, flour, canned fish from Fiji and Australia. 62% of all imports.
- Fuel and Oil ($0.06 B)
- Diesel for boats and generators from Singapore.
- Machines and Tools ($0.03 B)
- Solar panels, fishing gear from China.
- Vehicles and Boats ($0.02 B)
- Trucks and outboard motors from Japan.
- Clothes and Medicine ($0.01 B)
- From Australia and New Zealand.
Kiribati economy 2024 depends on ships from Fiji and Australia. Local gardens and fish farms can cut food imports by $40 million.
Market Trends That Will Shape Kiribati Economy in 2025
The Kiribati economy is set for 2.8% growth in 2025, according to IMF and World Bank forecasts. Here are the big trends:
1. Stronger Fishing Deals
- New agreements with Japan and EU add $20 million in license fees.
- Sustainable tuna rules protect fish for the future.
2. More Australian and UN Aid
- $50 million for seawalls and water systems.
- Kiribati economy gets 300 new jobs in building.
3. Green Energy Push
- Solar farms on Tarawa cover 40% of power.
- Saves $10 million in fuel imports.
4. Small Tourism Growth
- 5,000 visitors target (+20%).
- Eco-lodges and diving bring $5 million.
5. Climate Risks Remain
- King tides flood homes.
- The RERF fund ($600 M) acts as a safety net.
Simple Tips to Help Kiribati Economy Grow:
- Fish smarter: Use apps to track boats—add $15 M.
- Grow food: Greenhouses cut rice imports $25 M.
- Teach skills: Train 2,000 in solar and tourism—create 500 jobs.
Kiribati Economy Overview: From Past to Future
The Kiribati economy overview tells a story of survival. Before independence in 1979, phosphate mining made money. Now, fishing and aid lead. Kiribati economy 2020 crashed to -8.7% with no ships or tourists. Kiribati economy 2021 stayed low at -1.3%. Kiribati economy 2022 bounced to 1.5%, and Kiribati economy 2024 hit 2.5%. With 135,763 people spread over 811,000 sq km of ocean, the Kiribati economy fights sea rise with smart plans and global friends.
FAQs
What is Kiribati economy like in 2024?
$0.31 B GDP with 2.5% growth. Fishing licenses and aid bring in most cash.
How will Kiribati economy grow in 2025?
Plan for 2.8% growth. New fish deals, solar power, and aid will help.
What does Kiribati sell and buy most?
Sells fishing rights ($0.015 B). Buys food ($0.18 B) and fuel ($0.06 B).
Why is Kiribati economy so small?
Only 135,763 people and far from markets. Kiribati economy overview shows aid fills gaps.
How has the Kiribati economy changed since 2020?
Kiribati economy 2020 fell 8.7%. Now in 2024, it grows 2.5% with better trade.
What is the Kiribati economy based on?
Fishing licenses (50%), aid (30%), local sales (20%).
Is Kiribati economy safe from sea rise?
Yes, with plans. Kiribati economy uses $50 M aid for seawalls and high land.
Conclusion
The Kiribati economy stays small but fights hard. From 2024’s 2.5% growth to 2025’s 2.8% hope. $0.31 B GDP. Big trade gap but low debt and strong aid.
Summary: Fish smarter, grow green, use aid well. Kiribati economy to you—tiny island, big heart? Share your thoughts!
