According to the latest statistics released by the World Bank in 2024, among the countries in Oceania in 1971, Australia ranked first in terms of gross domestic product(GDP), with a total economic volume of $45.22 billion; New Zealand ranked second in terms of GDP, with a total economic volume of $7.91 billion; Papua New Guinea ranked third in terms of GDP, with a total economic volume of $0.72 billion; New Caledonia ranked fourth in terms of GDP, with a total economy of $0.41 billion; and French Polynesia, with a total economy of $0.3 billion, ranked fifth in GDP.
| Rank | Country | GDP |
|---|---|---|
| 1 | Australia | $45.22 billion |
| 2 | New Zealand | $7.91 billion |
| 3 | Papua New Guinea | $0.72 billion |
| 4 | New Caledonia | $0.41 billion |
| 5 | French Polynesia | $0.3 billion |
| 6 | Fiji | $0.25 billion |
| 7 | Salomonen | $0.05 billion |
| 8 | Kiribati | $0.02 billion |