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%.
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.
Tuvalu GDP from 2000 to 2024
The total market value of goods and services produced annually in Tuvalu.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
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 |
