Palau's gross Value Added (GVA) at basic prices (constant 2015 US$) was US$233.52 million in 2024, the latest year in the World Bank's World Development Indicators. That is up 1.59% from US$229.87 million in 2014 (0.16% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$233.52 million | 2024 |
| Five years earlier | US$250.85 million | 2019 |
| Ten years earlier | US$229.87 million | 2014 |
| Highest | US$257.47 million | 2016 |
| Lowest | US$206.2 million | 2022 |
| Average since 2015 | US$235.19 million | 2015–2024 |
| First recorded | US$214.62 million |
What the numbers say
In 2024, Palau's gross Value Added (GVA) at basic prices (constant 2015 US$) rose 11.5% on 2023 (from US$209.47 million to US$233.52 million).
Across the 23 yearly changes before that (2001 to 2023), the average change was +0% and a typical year strayed about 4.8% from that (the standard deviation). This year's change was 2.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
On record, the biggest yearly rise was 11.5% in 2024 and the biggest yearly fall was 11% in 2021. 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 downward, about US$5.19 million a year. A straight line explains 62% 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, Palau had the 25th highest value of the 25 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.
| Value | Year | |
|---|---|---|
| Palau | US$233.52 million | 2024 |
| World | US$84.85 trillion | 2024 |
Closest to Palau in the 2024 ranking
- Vanuatu — 21st of 25: US$955.45 million
- Tonga — 22nd of 25: US$427.12 million
- Kiribati — 23rd of 25: US$273.29 million
- Marshall Islands — 25th of 25: US$211.17 million
What this measures
Gross value added at basic prices reflects the price of products receivable by the producer exclusive of taxes payable on products and inclusive of subsidies receivable on products, less intermediate consumption valued at purchasers' prices. This indicator is expressed in constant prices, meaning the series has been adjusted to account for price changes over time. The reference year for this adjustment is 2015. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
All 25 values
| Year | Gross Value Added (GVA) at basic prices (constant 2015 US$) |
|---|---|
| 2024 | 233,523,659 |
| 2023 | 209,471,745 |
| 2022 | 206,202,229 |
| 2021 | 209,093,302 |
| 2020 | 234,949,991 |
| 2019 | 250,848,660 |
| 2018 | 248,738,888 |
| 2017 | 249,056,590 |
| 2016 | 257,468,482 |
| 2015 | 252,512,300 |
Gross Value Added (GVA) at basic prices (constant 2015 US$) in nearby economies
- Australia — US$1.59 trillion (2025)
- Brunei Darussalam — US$14.03 billion (2025)
- Cambodia — US$38.08 billion (2025)
- Fiji — US$4.32 billion (2025)
- Hong Kong SAR, China — US$335.83 billion (2025)
- Indonesia — US$1.25 trillion (2025)
- Japan — US$4.72 trillion (2024)
- Kiribati — US$273.29 million (2024)
- Korea, Rep. — US$1.81 trillion (2025)
More economic policy & debt data for Palau
- GDP (current US$) — US$345 million (2025)
- GDP (current LCU) — 345 million (2025)
- GDP (constant 2015 US$) — US$275.84 million (2025)
- GDP (constant LCU) — 280 million (2025)
- GDP per capita (current US$) — US$19,532 (2025)
- GDP per capita (current LCU) — 19,532 (2025)
- GDP per capita (constant 2015 US$) — US$15,617 (2025)
- GDP per capita (constant LCU) — 15,852 (2025)
- GNI (current US$) — US$351.4 million (2025)
- GNI (current LCU) — 351.4 million (2025)
- GNI per capita (current LCU) — 19,895 (2025)
- GDP (annual % growth)
Reading data like this
Questions people ask
- What is Palau's gross Value Added (GVA) at basic prices (constant 2015 US$)?
- US$233.52 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2000?
- It is up 8.81% from US$214.62 million in 2000 (0.35% a year on average, compounded). The highest value was US$257.47 million in 2016 and the lowest US$206.2 million in 2022.
- How does Palau rank?
- 25th highest of 25 economies with data for 2024.
- Is the latest change in gross Value Added (GVA) at basic prices (constant 2015 US$) unusual for Palau?
- In 2024, Palau's gross Value Added (GVA) at basic prices (constant 2015 US$) rose 11.5% on 2023 (from US$209.47 million to US$233.52 million). Across the 23 yearly changes before that (2001 to 2023), the average change was +0% and a typical year strayed about 4.8% from that (the standard deviation). This year's change was 2.4 standard deviations above that average, so it was unusually large compared with the rest of the record.
Source
World Bank, World Development Indicators, indicator NY.GDP.FCST.KD, 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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