Marshall Islands's GDP changed from approximately $110M in 1997 to $305M in 2024, showing an overall 177.3% sharply increased during the period.
The lowest GDP was recorded in 1997 at $110M, and the highest in 2024 at $305M.
Over the 27-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.8%.
For comparison, the average annual growth rate of Micronesia was 2.8%, and that of Palau was 3.0%.
Overview of Marshall Islands's GDP (1997–2024)
The Gross Domestic Product (GDP) of Marshall Islands recorded a 177.3% sharply increased from 1997 to 2024.
The average GDP during this period was $177M 642K, and the median was $166M.
GDP fluctuated within a range of $195M, with a standard deviation of $55M 499K.
The average annual change was $6M 525K.
Marshall Islands GDP from 1997 to 2024
The total market value of goods and services produced annually in Marshall Islands.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1997, $110M
- Highest GDP: 2024, $305M
- Most Recent GDP: 2024, $305M
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2008: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Marshall Islands's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $232M → $241M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $150M → $151M
- Outcome: remained stable
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $115M → $122M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $110M → $112M
- Outcome: increased
Key Economic Indicators of Marshall Islands (1997–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1997 | $ 110M | $ 2,231.75 | $ 2,111.01 | $ 104M | 0 % | -12.265 % | 0 % | 14.055 % | 49,000 people |
1998 | $ 112M | $ 2,242.04 | $ 2,088.79 | $ 104M | -0.679 % | -11.171 % | 0 % | 18.369 % | 50,000 people |
1999 | $ 113M | $ 2,230.64 | $ 2,056.07 | $ 105M | -1.365 % | -12.17 % | 0 % | 12.836 % | 51,000 people |
2000 | $ 115M | $ 2,242.87 | $ 2,138.09 | $ 110M | 2.468 % | -13.287 % | 0 % | 9.606 % | 51,000 people |
2001 | $ 122M | $ 2,422.93 | $ 2,369.43 | $ 120M | 6.916 % | -4.817 % | 0 % | 9.074 % | 51,000 people |
2002 | $ 132M | $ 2,655.59 | $ 2,535.46 | $ 126M | 3.648 % | 5.942 % | 0 % | 5.552 % | 50,000 people |
2003 | $ 131M | $ 2,625.24 | $ 2,531.49 | $ 127M | -1.535 % | -0.724 % | 0 % | 11.209 % | 50,000 people |
2004 | $ 133M | $ 2,634.42 | $ 2,557.35 | $ 129M | -0.708 % | 3.541 % | 0 % | -0.97 % | 50,000 people |
2005 | $ 138M | $ 2,689.53 | $ 2,646.27 | $ 135M | 1.773 % | 6.271 % | 0 % | -21.652 % | 51,000 people |
2006 | $ 143M | $ 2,772.86 | $ 2,717.83 | $ 140M | 0.203 % | -2.91 % | 0 % | 0.879 % | 51,000 people |
2007 | $ 150M | $ 2,893.43 | $ 2,868.47 | $ 149M | 3.392 % | 2.297 % | 0 % | 0.867 % | 52,000 people |
2008 | $ 146M | $ 2,781.61 | $ 2,665.19 | $ 140M | -7.646 % | 1.019 % | 0 % | 4.604 % | 52,000 people |
2009 | $ 151M | $ 2,881.21 | $ 2,790.66 | $ 146M | 3.673 % | -11.869 % | 0 % | 2.114 % | 52,000 people |
2010 | $ 160M | $ 3,029.42 | $ 2,941.59 | $ 156M | 5.422 % | -18.113 % | 0 % | 4.086 % | 53,000 people |
2011 | $ 172M | $ 3,236.47 | $ 2,987.29 | $ 159M | -0.053 % | -0.604 % | 0 % | 2.963 % | 53,000 people |
2012 | $ 180M | $ 3,429.28 | $ 3,036.25 | $ 160M | -1.309 % | -4.067 % | 0 % | 0.03 % | 53,000 people |
2013 | $ 186M | $ 3,584.02 | $ 3,244.55 | $ 168M | 3.61 % | -9.004 % | 0 % | 0.4 % | 52,000 people |
2014 | $ 185M | $ 3,638.78 | $ 3,319.31 | $ 169M | -1.158 % | -0.477 % | 0 % | 3.61 % | 51,000 people |
2015 | $ 183M | $ 3,669.50 | $ 3,491.22 | $ 174M | 2.101 % | 11.446 % | 0 % | 3.219 % | 50,000 people |
2016 | $ 201M | $ 4,121.20 | $ 3,687.35 | $ 180M | 2.144 % | 9.986 % | 0 % | 4.274 % | 49,000 people |
