Marshall Islands's taxes less subsidies on products (constant LCU) was 7.02 million in 2024, the latest year in the World Bank's World Development Indicators. That is down 5.29% from 7.41 million in 2014 (0.54% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 7.02 million | 2024 |
| Five years earlier | 8.97 million | 2019 |
| Ten years earlier | 7.41 million | 2014 |
| Highest | 18.13 million | 2002 |
| Lowest | 6.05 million | 2023 |
| Average since 2015 | 7.78 million | 2015–2024 |
| First recorded | 16.51 million |
What the numbers say
In 2024, Marshall Islands' taxes less subsidies on products (constant LCU) rose 16.1% on 2023 (from 6.05 million to 7.02 million).
Across the 26 yearly changes before that (1998 to 2023), the average change was −2.3% and a typical year strayed about 16.9% from that (the standard deviation). This year's change was 1.1 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 27.3% in 2005 and the biggest yearly fall was 35.3% in 2004. 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 there is no clear straight-line trend: a straight line explains 9% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
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 24th 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 — 21st of 26: 234.38 million
- Tonga — 22nd of 26: 149.63 million
- Palau — 23rd of 26: 28.15 million
- Kiribati — 25th of 26: 1.03 million
- Timor-Leste — 26th of 26: -12.2 million
What this measures
Taxes less subsidies on products are taxes payable per unit of a good or service. 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 | Taxes less subsidies on products (constant LCU) |
|---|---|
| 2024 | 7,020,500 |
| 2023 | 6,045,300 |
| 2022 | 8,450,100 |
| 2021 | 8,147,500 |
| 2020 | 7,992,300 |
| 2019 | 8,968,700 |
| 2018 | 7,750,700 |
| 2017 | 7,956,100 |
| 2016 | 8,548,600 |
| 2015 | 6,954,200 |
| 2014 |
Taxes less subsidies on products (constant LCU) in nearby economies
- Australia — 171.12 billion (2025)
- Brunei Darussalam — -374.3 million (2025)
- Cambodia — 9.98 trillion (2025)
- Fiji — 1.9 billion (2025)
- Hong Kong SAR, China — 125.29 billion (2025)
- Indonesia — 577.31 trillion (2025)
- Kiribati — 1.03 million (2024)
- Korea, Rep. — 166.18 trillion (2025)
- Lao PDR — 15.75 trillion (2025)
- Macao SAR, China
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 taxes less subsidies on products (constant LCU)?
- 7.02 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1997?
- It is down 57.48% from 16.51 million in 1997 (3.12% a year on average, compounded). The highest value was 18.13 million in 2002 and the lowest 6.05 million in 2023.
- How does Marshall Islands rank?
- 24th highest of 26 economies with data for 2024.
- Is the latest change in taxes less subsidies on products (constant LCU) unusual for Marshall Islands?
- In 2024, Marshall Islands' taxes less subsidies on products (constant LCU) rose 16.1% on 2023 (from 6.05 million to 7.02 million). Across the 26 yearly changes before that (1998 to 2023), the average change was −2.3% and a typical year strayed about 16.9% from that (the standard deviation). This year's change was 1.1 standard deviations above that average, so it was larger than a typical year, though not out of the range seen before.
Source
World Bank, World Development Indicators, indicator NY.TAX.NIND.KN, 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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