Micronesia
On this page you will find beneficial information regarding foreign direct investment in / trading with Micronesia. If you are interested in exploring trade or investment possibilities in the country, feel free to contact the International Trade Council team. Additionally, we encourage you to engage with the official government investment agency featured on this page.
It is important to note that while the statistics presented on this page were understood to be accurate at the time of publication, they are subject to change over time. Please consult your ITC Trade Commissioner for up-to-date information.
Type of Government: Federal Assembly-Independent Representative Democratic Republic
Population: 113,131 (2021)
GDP: 404 million USD (2021)
Corporate Tax Rate: 21%
Personal Income Tax Rate: 10%
Major Exports: Non-fillet Frozen Fish ($174M), Fish Fillets ($1.3M), Non-fillet Fresh Fish ($668k), Planes, Helicopters, and/or Spacecraft ($390k), and Scrap Iron ($348k), exporting mostly to Thailand ($145M), China ($16.1M), Japan ($8.01M), Philippines ($7.17M), and United States ($1.95M).
Major Imports: Poultry Meat ($6.45M), Broadcasting Equipment ($3.98M), Other Prepared Meat ($3.95M), Cars ($3.94M), and Processed Fish ($3.58M), importing mostly from United States ($42.2M), China ($20.1M), Japan ($14.3M), Chinese Taipei ($8.63M), and South Korea ($8.14M).
National Chamber of Commerce: Federated States of Micronesia Chamber of Commerce
Customs Agency: FSM Division of Customs and Tax Administration
Website: https://dofa.gov.fm/customs-and-tax-administration/
