Economic Policy & Debt · Marshall Islands
Yearly data from 1997 to 2024, from the World Bank.
Marshall Islands's gross Value Added (GVA) at basic prices (current LCU) was 278.06 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 58.23% from 175.73 million in 2014 (4.7% a year on average, compounded).
| Value | Year | |
|---|---|---|
| Latest | 278.06 million | 2024 |
| Five years earlier | 228.85 million | 2019 |
| Ten years earlier | 175.73 million | 2014 |
| Highest | 278.06 million | 2024 |
| Lowest | 95.19 million | 1997 |
| Average since 2015 | 229.2 million | 2015–2024 |
| First recorded | 95.19 million | 1997 |
Over five years it is up 21.5% from 228.85 million in 2019 (3.97% a year on average, compounded). Since 1997 it is up 192.11% from 95.19 million in 1997 (4.05% a year on average, compounded).
In 2024, Marshall Islands' gross Value Added (GVA) at basic prices (current LCU) rose 9.6% on 2023 (from 253.78 million to 278.06 million).
Across the 26 yearly changes before that (1998 to 2023), the average change was +3.9% and a typical year strayed about 3.5% from that (the standard deviation). This year's change was 1.6 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
On record, the biggest yearly rise was 11.7% in 2002 and the biggest yearly fall was 2% in 2022. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 the straight-line trend is upward, about 10.09 million a year. A straight line explains 96% of the movement over 10 observed years.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
Extending that straight line gives about 301.32 million for 2027. We show this only because the same method, fitted on earlier years, predicted 2022 to 2024 better than "no change" would have: its average miss was 6.81 million, against 10 million for assuming no change. Treat it as a continuation of the recent pattern, not a forecast of events: it cannot see a recession, a policy change or a revision to the data.
See how a linear trend forecast works and the guide on forecasting without fooling yourself.
In 2024, Marshall Islands had the 32nd highest value of the 31 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.
| Year | Gross Value Added (GVA) at basic prices (current LCU) |
|---|---|
| 2024 | 278,055,600 |
| 2023 | 253,778,000 |
| 2022 | 248,339,500 |
| 2021 | 253,502,500 |
| 2020 | 238,531,500 |
| 2019 | 228,853,100 |
| 2018 | 212,379,500 |
| 2017 | 206,969,500 |
| 2016 | 194,890,600 |
| 2015 | 176,713,000 |
| 2014 | 175,730,400 |
| 2013 | 176,590,900 |
| 2012 | 173,076,300 |
| 2011 | 161,834,900 |
| 2010 | 151,109,200 |
| 2009 | 145,144,500 |
| 2008 | 138,264,000 |
| 2007 | 139,957,500 |
| 2006 | 131,255,600 |
| 2005 | 124,630,100 |
| 2004 | 122,202,900 |
| 2003 | 118,873,700 |
| 2002 | 119,535,100 |
| 2001 | 107,058,100 |
| 2000 | 104,476,600 |
| 1999 | 98,900,500 |
| 1998 | 98,831,800 |
| 1997 | 95,189,900 |
Every indicator for Marshall Islands is on the Marshall Islands data page.
World Bank, World Development Indicators, indicator NY.GDP.FCST.CN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Organizations and/or Central Banks; National Accounts data files, Organisation for Economic Co-operation and Development (OECD); Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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