French Polynesia Economy and Regional Growth Analysis 2022-2023
Explore the economic landscape of French Polynesia, including population growth, GDP trajectories, standard of living, unemployment rates, and inflation projections. Gain insights into the region's economic development and challenges ahead.
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The economy of French Polynesia and its regional environment Competition Days February 15th 2024 INSTITUT D MISSION D OUTRE-MER
Population by country 67.971 70 +3.0% +2.4% +2.3% +2.5% +1.9% 50 +1.8% +2.0% +1.7% +1.6% +1.5% +1.2% 26.006 30 +0.8% +1.0% +0.6% +0.3% +0.5% 10.143 +0.2% +0.2% 10 0.930 0.724 0.327 0.279 0.269 0.222 0.131 0.107 0.012 +0.0% -0.5% -10 -0.9% -1.0% -30 -1.5% Population in 2022 (in millions) Population growth rate 2022/2021 Source : World Bank, ISPF, ISEE INSTITUTD MISSIOND OUTRE-MER
Growth trajectories Real GDP growth rates 25% 20% 15% 10% 7.5% 8.0% 4.5% 5% 3.5% 1.8% 2.5% 2.6% 3.0% 1.0% 1.5% 2.6% 1.1% 0.5% 0% -1.5% -2.4% -1.4% -1.8% -3.5% -3.4%-3.7% -5% -5.0% -7.2% -7.7% -10% -15% -17.0% -20% 2020 2021 2022 2023 (projections) Sources : World Bank, IMF (WEO october 2023 ), ISPF, ISEE INSTITUTD MISSIOND OUTRE-MER
Different trajectories for catching up Real GDP 2022/2019 120% 108% 107% 106% 101% 101% 99% 97% 100% 95% 92% 85% 80% 60% 40% 20% 0% Kiribati New Zealand Australia Papua New Guinea France French Polynesia Vanuatu Fiji Solomon Islands Samoa Sources : World Bank, ISPF INSTITUTD MISSIOND OUTRE-MER
Standard of living by country GDP/Capita in current US dollar 70 000 65 100 60 000 48 419 50 000 40 886 40 000 30 701 30 000 18 581 20 000 10 000 5 356 3 746 3 231 3 116 2 205 1 702 - Australia New Zealand France New French Polynesia Fiji Samoa Vanuatu Papua New Guinea Solomon Islands Kiribati Caledonia 2020 2021 2022 Sources : World Bank, ISPF, ISEE INSTITUTD MISSIOND OUTRE-MER
Unemployment situation Share of unemployed in total labor force, modeled by ILO 2019 2020 16% 2021 2022 14% 13.1% 12.3% 12% 10.1% 10% 7.4% 8% 6% 4.3% 3.7% 4% 3.3% 3.0% 2.8% 2.1% 1.5% 2% 0% Source : World Bank INSTITUTD MISSIOND OUTRE-MER
Average annual inflation rate : international comparisons & projections 14% 12% 12.0% 10.2% 9.3% 10% 8% 9.0% 5.0% 4.8% 4.6% 6% 5.3% 4% 3.9% 3.3% 3.0% 1.7% 2% 0% -2% -4% 2020 2021 2022 2023 Papua N-G French Polynesia Kiribati Australia Fiji Samoan Islands New Zealand New Caledonia Tonga France Wallis and Futuna Vanuatu Sources : World Bank, IMF, ISEE, ISPF. INSTITUTD MISSIOND OUTRE-MER
Policy rates on a high plateau 6.0% New-Zealand 5,5 % 5.5% United States 5,5 % 5.0% Euro area 5 % 4.5% 4.0% Australia 4,35 % Australia 4,35 % 3.5% IEOM 4,2 % IEOM 4,2 % 3.0% 2.5% 2.0% Papua N-G 2,5 % Papua N-G 2,5 % 1.5% 1.0% Fiji 0,25 % 0.5% 0.0% Japan -0,1 % -0.5% Sources : FED, ECB, BJ, RBA, RBF, RBNZ, IEOM, Bank of PNG INSTITUTD MISSIOND OUTRE-MER
Thank you for your attention For more information, please visit : https://www.ieom.fr/polynesie-francaise/ https://www.cerom-outremer.fr/polynesie- francaise/publications/ INSTITUTD MISSIOND OUTRE-MER
