Pacific Economic Update - Recovering in the Midst of Uncertainty, August 2023

The World Bank’s Pacific Economic Update provides a twice-yearly assessment of 11 Pacific Island economies: the Federated States of Micronesia (FSM), Fiji, Kiribati, Nauru, Palau, Republic of the Marshall Islands (RMI), Samoa, Solomon Islands, Tonga, Tuvalu, and Vanuatu. This August 2023 Pacific Economic Update describes a return to growth for the region, largely due to the resumption of tourism, higher public investment and construction. The new Pacific Economic Update also includes a special analysis of international labour migration, which was an important income source for the region during the pandemic. The report emphasizes that there is a significant opportunity for Pacific countries to maximize its benefit.