Tuvalu's GDP changed from approximately $15M in 2000 to $66M in 2024, showing an overall 340.0% sharply increased during the period.
The lowest GDP was recorded in 2001 at $14M, and the highest in 2024 at $66M.
Over the 24-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.4%.
For comparison, the average annual growth rate of Kiribati was 5.2%, and that of Nauru was 8.6%.
Tuvalu GDP from 2000 to 2024
The total market value of goods and services produced annually in Tuvalu.
Overview of Tuvalu's GDP (2000–2024)
The Gross Domestic Product (GDP) of Tuvalu recorded a 340.0% sharply increased from 2000 to 2024.
The average GDP during this period was $37M 520K, and the median was $39M.
GDP fluctuated within a range of $52M, with a standard deviation of $15M 365K.
The average annual change was $2M 53K.
Highest and Lowest GDP Records
- Lowest GDP: 2001, $14M
- Highest GDP: 2024, $66M
- Most Recent GDP: 2024, $66M
Notable Annual GDP Changes
- 2011: Significant increase in GDP
- 2009: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Tuvalu's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $54M → $52M
- Outcome: declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $29M → $28M
- Outcome: declined
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $15M → $14M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $0 → $0
- Outcome: remained stable
Key Economic Indicators of Tuvalu (2000–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
2000 | $ 15M | $ 0 | $ 0 | $ 23M | 0 % | 0 % | 0 % | 0 % | 0 person |
2001 | $ 14M | $ 0 | $ 0 | $ 24M | 0.695 % | 53.638 % | 0 % | 0 % | 0 person |
2002 | $ 17M | $ 1,741.53 | $ 2,742.54 | $ 26M | 8.317 % | 23.317 % | 0 % | 0 % | 10,000 people |
2003 | $ 20M | $ 2,075.67 | $ 2,697.91 | $ 26M | -4.351 % | -61.2 % | 0 % | 0 % | 9,000 people |
2004 | $ 23M | $ 2,385.56 | $ 2,683.50 | $ 26M | -1.888 % | -18.346 % | 0 % | 0 % | 10,000 people |
2005 | $ 23M | $ 2,348.71 | $ 2,630 | $ 26M | -3.746 % | -7.988 % | 0 % | -13.176 % | 10,000 people |
2006 | $ 24M | $ 2,464.22 | $ 2,711.37 | $ 27M | 1.301 % | 28.012 % | 0 % | -37.285 % | 10,000 people |
2007 | $ 29M | $ 2,865.98 | $ 2,939.19 | $ 29M | 6.905 % | -16.176 % | 0 % | -23.601 % | 10,000 people |
2008 | $ 32M | $ 3,186.85 | $ 3,152.21 | $ 32M | 6.579 % | -25.899 % | 0 % | -18.266 % | 10,000 people |
2009 | $ 28M | $ 2,759.03 | $ 2,955.26 | $ 30M | -5.62 % | -69.561 % | 0 % | -17.083 % | 10,000 people |
2010 | $ 32M | $ 3,133.04 | $ 2,880.16 | $ 30M | -2.468 % | -60.795 % | 0 % | -27.893 % | 10,000 people |
2011 | $ 40M | $ 3,777.34 | $ 3,120.36 | $ 33M | 7.52 % | -84.779 % | 0 % | -11.985 % | 11,000 people |
2012 | $ 39M | $ 3,609.11 | $ 3,008.28 | $ 32M | -2.853 % | -32.119 % | 0 % | 7.584 % | 11,000 people |
2013 | $ 39M | $ 3,615.37 | $ 3,184.45 | $ 34M | 3.805 % | 2.836 % | 0 % | 25.751 % | 11,000 people |
2014 | $ 39M | $ 3,583.65 | $ 3,281.14 | $ 35M | 1.667 % | -0.482 % | 0 % | -3.912 % | 11,000 people |
2015 | $ 37M | $ 3,396.69 | $ 3,608.11 | $ 39M | 9.379 % | -33.661 % | 0 % | 1.975 % | 11,000 people |
2016 | $ 41M | $ 3,798.27 | $ 3,800.44 | $ 41M | 4.746 % | 29.885 % | 0 % | 22.629 % | 11,000 people |
2017 | $ 45M | $ 4,255.25 | $ 4,083.31 | $ 43M | 3.28 % | 2.073 % | 0 % | -1.513 % | 11,000 people |
2018 | $ 48M | $ 4,499 | $ 4,218.34 | $ 45M | 1.387 % | 60.922 % | 0 % | 28.395 % | 11,000 people |
2019 | $ 54M | $ 5,046.83 | $ 4,863.03 | $ 52M | 13.822 % | -22.174 % | 0 % | -8.054 % | 11,000 people |