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    Micronesia, Federated States of

    Continent
    Oceania
    Capital
    Palikir
    Population
    99,603
    Sub-Zones
    4
    General Information
    Basic details about Micronesia, Federated States of
    Population:
    99,603
    Area:
    702 sq km
    Currency:
    the US dollar is used
    Languages:
    English, Chuukese, Kosrean, Pohnpeian, Yapese, Ulithian, Woleaian, Nukuoro, Kapingamarangi
    Economic Overview
    Key economic indicators for Micronesia, Federated States of
    GDP:
    $437.759 million
    GDP per Capita:
    $3,900
    GDP Growth:
    0.78%
    Inflation:
    5.41%
    Public Debt:
    27.86% of GDP
    Political System
    Governance structure of Micronesia, Federated States of
    Government Type:
    federal republic in free association with the US
    Head of State:
    President Wesley W. SIMINA (since 12 May 2023)
    Head of Government:
    President Wesley W. SIMINA (since 12 May 2023)
    Judiciary:
    Federated States of Micronesia (FSM) Supreme Court (consists of the chief justice and not more than 5 associate justices and organized into appellate and criminal divisions)
    Administrative Divisions:
    4 states; Chuuk (Truk), Kosrae (Kosaie), Pohnpei (Ponape), Yap

    Major Political Parties

    • Not specified
    International Relations
    Global position and alliances
    UN Member:
    Yes
    EU Member:
    No
    Diplomatic Presence:
    1725 N Street NW, Washington, DC 20036

    Major Alliances and Organizations

    Economic Sectors & Trade
    Detailed economic breakdown

    Major Economic Sectors

    Agriculture
    22.5% (2023 est.)
    Industry
    4.9% (2023 est.)
    Services
    66.8% (2023 est.)note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

    Trade Volume

    Exports:
    $179 million
    Imports:
    $126 million

    Major Trading Partners

    Thailand 64
    China 16
    Philippines 11
    Japan 5
    Ecuador 1

    Economic Outlook

    Micronesia, Federated States of has a 0.78% GDP growth rate with 5.41% inflation. The economy is characterized by a strong agriculture sector.