Marshall Islands's industry, including construction, value added (constant LCU) was 28.56 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 18.69% from 24.06 million in 2014 (1.73% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 28.56 million | 2024 |
| Five years earlier | 24.98 million | 2019 |
| Ten years earlier | 24.06 million | 2014 |
| Highest | 30.05 million | 2010 |
| Lowest | 16.66 million | 1997 |
| Average since 2015 | 23.69 million | 2015–2024 |
| First recorded | 16.66 million |
What the numbers say
In 2024, Marshall Islands' industry, including construction, value added (constant LCU) rose 4.2% on 2023 (from 27.4 million to 28.56 million).
Across the 26 yearly changes before that (1998 to 2023), the average change was +2.6% and a typical year strayed about 11.9% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 30.1% in 2006 and the biggest yearly fall was 24.7% in 2012. 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 936,187 a year. A straight line explains 88% 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.
How it compares
In 2024, Marshall Islands had the 25th highest value of the 26 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.
Closest to Marshall Islands in the 2024 ranking
- Turks and Caicos Islands — 22nd of 26: 159.38 million
- Timor-Leste — 23rd of 26: 115.48 million
- Kiribati — 24th of 26: 47.82 million
- Palau — 26th of 26: 27.24 million
What this measures
Industry (including construction) corresponds to ISIC (Rev.4) divisions 05-43. It is comprised of mining, manufacturing, construction, electricity, water, and gas industries. Value added is the contribution to the economy by a producer or an industry or an institutional sector, which is estimated by the total value of output produced and deducting the total value of intermediate consumption of goods and services used to produce that output. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment varies by country. This series is expressed in local currency units.
All 28 values
| Year | Industry, including construction, value added (constant LCU) |
|---|---|
| 2024 | 28,561,900 |
| 2023 | 27,402,100 |
| 2022 | 25,902,400 |
| 2021 | 23,626,300 |
| 2020 | 23,659,800 |
| 2019 | 24,980,700 |
| 2018 | 21,798,000 |
| 2017 | 20,152,100 |
| 2016 | 20,073,200 |
| 2015 | 20,756,000 |
Industry, including construction, value added (constant LCU) in nearby economies
- Australia — 680.23 billion (2025)
- Brunei Darussalam — 11.94 billion (2025)
- Cambodia — 72.24 trillion (2025)
- China — 48.45 trillion (2025)
- Fiji — 1.75 billion (2025)
- Hong Kong SAR, China — 184.41 billion (2025)
- Indonesia — 5,167.28 trillion (2025)
- Japan — 161.07 trillion (2024)
- Kiribati — 47.82 million (2024)
More economic policy & debt data for Marshall Islands
- GDP (current US$) — US$308 million (2025)
- GDP (current LCU) — 308 million (2025)
- GDP (constant 2015 US$) — US$224 million (2025)
- GDP (constant LCU) — 224 million (2025)
- GDP per capita (current US$) — US$8,489 (2025)
- GDP per capita (current LCU) — 8,489 (2025)
- GDP per capita (constant 2015 US$) — US$6,174 (2025)
- GDP per capita (constant LCU) — 6,174 (2025)
- GNI (current US$) — US$364 million (2025)
- GNI (current LCU) — 364 million (2025)
- GNI per capita (current LCU)
Reading data like this
Questions people ask
- What is Marshall Islands's industry, including construction, value added (constant LCU)?
- 28.56 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1997?
- It is up 71.49% from 16.66 million in 1997 (2.02% a year on average, compounded). The highest value was 30.05 million in 2010 and the lowest 16.66 million in 1997.
- How does Marshall Islands rank?
- 25th highest of 26 economies with data for 2024.
- Is the latest change in industry, including construction, value added (constant LCU) unusual for Marshall Islands?
- In 2024, Marshall Islands' industry, including construction, value added (constant LCU) rose 4.2% on 2023 (from 27.4 million to 28.56 million). Across the 26 yearly changes before that (1998 to 2023), the average change was +2.6% and a typical year strayed about 11.9% from that (the standard deviation). This year's change was 0.1 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NV.IND.TOTL.KN, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; 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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