Central Data Catalog

Citation Information

Type Journal Article - Economic Round-up
Title An economic survey of developing countries in the Pacific region
Issue Spring 2006
Publication (Day/Month/Year) 2006
Page numbers 9-9
Publisher Commonwealth of Australia. Department of the Treasury
URL https://search.informit.com.au/documentSummary;dn=320741688261686;res=IELBUS
Abstract: The economic performance of the Pacific island countries has been, at best, mixed and in many cases quite poor for an extended period of time. Real GDP growth has been volatile with low average trend rates of growth. The Polynesian countries have generally performed better than Melanesia or Micronesia in terms of per capita GDP growth. Several of the Melanesian and Micronesian countries have experienced long-term decline, and very robust GDP growth would be required over the next 20 years simply to return their per capita GDP levels to previously achieved peaks. Considerable challenges to economic growth and development remain. Against a substantial background of risks, some of which are exogenous, governments must prudently and effectively manage the factors which they can control to achieve the best possible economic outcomes.