Palau: Industry, including construction, value added (constant 2015 US$)

Key figures

What the numbers say

In 2024, Palau's industry, including construction, value added (constant 2015 US$) rose 37.2% on 2023 (from US$19.51 million to US$26.78 million).

Across the 23 yearly changes before that (2001 to 2023), the average change was −1% and a typical year strayed about 16.8% from that (the standard deviation). This year's change was 2.3 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 37.2% in 2024 and the biggest yearly fall was 27.1% in 2009. 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 less than 1% 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, Palau had the 27th 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 Palau in the 2024 ranking

• Tonga — 23rd of 26: US$108.42 million
• Kiribati — 24th of 26: US$36.02 million
• Marshall Islands — 25th of 26: US$28.56 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 is 2015. This indicator is expressed in United States dollars.

Limitations: Ideally, industrial output should be measured through regular censuses and surveys of firms. But in most developing countries such surveys are infrequent, so earlier survey results must be extrapolated using an appropriate indicator. The choice of sampling unit, which may be the enterprise (where responses may be based on financial records) or the establishment (where production units may be recorded separately), also affects the quality of the data. Moreover, much industrial production is organized in unincorporated or owner-operated ventures that are not captured by surveys aimed at the formal sector.

Regional and income-group figures are computed by the World Bank as a gap-filled total.

All 25 values

Industry, including construction, value added (constant 2015 US$) in nearby economies

• Australia — US$367.23 billion (2025)
• Brunei Darussalam — US$8.04 billion (2025)
• Cambodia — US$18.33 billion (2025)
• China — US$7.27 trillion (2025)
• Fiji — US$737.47 million (2025)
• Hong Kong SAR, China — US$21.3 billion (2025)
• Indonesia — US$483.66 billion (2025)
• Japan — US$1.32 trillion (2024)
• Kiribati

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

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Questions people ask

What is Palau's industry, including construction, value added (constant 2015 US$)?

US$26.78 million in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2000?

It is down 19.47% from US$33.25 million in 2000 (0.9% a year on average, compounded). The highest value was US$54.39 million in 2002 and the lowest US$17.71 million in 2013.

How does Palau rank?

27th highest of 26 economies with data for 2024.

Is the latest change in industry, including construction, value added (constant 2015 US$) unusual for Palau?

In 2024, Palau's industry, including construction, value added (constant 2015 US$) rose 37.2% on 2023 (from US$19.51 million to US$26.78 million). Across the 23 yearly changes before that (2001 to 2023), the average change was −1% and a typical year strayed about 16.8% from that (the standard deviation). This year's change was 2.3 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator NV.IND.TOTL.KD, 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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