Palau's GDP changed from approximately $150M in 2000 to $308M in 2024, showing an overall 105.3% sharply increased during the period.
The lowest GDP was recorded in 2000 at $150M, and the highest in 2024 at $308M.
Over the 24-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 3.0%.
For comparison, the average annual growth rate of Marshall Islands was 3.8%, and that of Micronesia was 2.8%.
Overview of Palau's GDP (2000–2024)
The Gross Domestic Product (GDP) of Palau recorded a 105.3% sharply increased from 2000 to 2024.
The average GDP during this period was $222M 960K, and the median was $215M.
GDP fluctuated within a range of $158M, with a standard deviation of $50M 975K.
The average annual change was $6M 115K.
Palau GDP from 2000 to 2024
The total market value of goods and services produced annually in Palau.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 2000, $150M
- Highest GDP: 2024, $308M
- Most Recent GDP: 2024, $308M
Notable Annual GDP Changes
- 2024: Significant increase in GDP
- 2021: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Palau's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $282M → $258M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $196M → $184M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $150M → $159M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $0 → $0
- Outcome: remained stable
Key Economic Indicators of Palau (2000–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
2000 | $ 150M | $ 7,900.29 | $ 8,534.82 | $ 162M | 0 % | -50.649 % | 0 % | 0 % | 19,000 people |
2001 | $ 159M | $ 8,304.59 | $ 9,161.32 | $ 176M | 6.502 % | -32.978 % | 0 % | 0 % | 19,000 people |
2002 | $ 163M | $ 8,404.13 | $ 9,696.50 | $ 188M | 5.056 % | -29.858 % | 0 % | 0 % | 19,000 people |
2003 | $ 155M | $ 7,923.59 | $ 9,477.82 | $ 185M | -3.38 % | -27.809 % | 0 % | 0 % | 20,000 people |
2004 | $ 166M | $ 8,462.15 | $ 10,048.99 | $ 198M | 4.077 % | -34.675 % | 0 % | 0 % | 20,000 people |
2005 | $ 186M | $ 9,327.33 | $ 10,616.23 | $ 211M | 3.664 % | -27.058 % | 0 % | 0 % | 20,000 people |
2006 | $ 191M | $ 9,678.12 | $ 11,050.22 | $ 218M | 0.031 % | -28.476 % | 0 % | 0 % | 20,000 people |
2007 | $ 196M | $ 10,136.31 | $ 11,675.20 | $ 226M | 0.947 % | -21.839 % | 0 % | 0 % | 19,000 people |
2008 | $ 199M | $ 10,498.22 | $ 11,489.46 | $ 218M | -5.255 % | -23.296 % | 0 % | 0 % | 19,000 people |
2009 | $ 184M | $ 9,882.58 | $ 10,974.70 | $ 205M | -6.839 % | -13.889 % | 0 % | 0 % | 19,000 people |
2010 | $ 184M | $ 10,080.44 | $ 11,190.44 | $ 205M | -1.141 % | -12.429 % | 0 % | 0 % | 18,000 people |
2011 | $ 195M | $ 10,885.96 | $ 12,118.75 | $ 217M | 4.124 % | -17.132 % | 0 % | 0 % | 18,000 people |
2012 | $ 215M | $ 12,294.28 | $ 12,895.02 | $ 226M | 1.868 % | -19.828 % | 0 % | 0 % | 18,000 people |
2013 | $ 226M | $ 13,004.42 | $ 12,971.21 | $ 226M | -1.612 % | -18.31 % | 0 % | 0 % | 17,000 people |
2014 | $ 246M | $ 14,149.36 | $ 13,822.15 | $ 240M | 4.435 % | -22.905 % | 0 % | 0 % | 17,000 people |
2015 | $ 283M | $ 16,037.96 | $ 15,021.24 | $ 265M | 9.549 % | -13.392 % | 0 % | 0 % | 18,000 people |
2016 | $ 303M | $ 17,161.72 | $ 15,378.71 | $ 272M | 1.507 % | -16.216 % | 0 % | 0 % | 18,000 people |
2017 | $ 290M | $ 16,383.83 | $ 15,080.29 | $ 267M | -3.514 % | -22.942 % | 0 % | 0 % | 18,000 people |
2018 | $ 289M | $ 16,289.54 | $ 15,608.87 | $ 277M | 1.261 % | -18.979 % | 0 % | 0 % | 18,000 people |
2019 | $ 282M | $ 15,876.32 | $ 16,047.65 | $ 285M | 1.357 % | -30.772 % | 0 % | 0 % | 18,000 people |
