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The Institute for Overseas Emissions Research (IEOM) revealed that by 2023, French Polynesia’s nominal GDP (at current prices) is estimated at 706 billion CFA francs.
As a result, French Polynesia’s GDP grew by 3%, bringing the Polynesian economy to a record GDP level, about 10% higher than before the health crisis.
This growth is accompanied by a sharp slowdown in inflation, which, while still high in 2023, will be almost double that of 2022. As a result, GDP growth in 2023 is 7%, with a 3 percentage point increase in volume and an increase in prices of almost 4 percentage points.
Household consumption (valued at XPF 482 billion), the main component of demand in French Polynesia, grew by 2.2% in volume terms, contributing 1.6 percentage points to economic growth. Household consumption growth accelerates in 2023, according to the evolution of its main determinants (demographics, disposable income, inflation levels and expectations, unemployment, real interest rates, etc.).
Source and illustration: IEOM
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