Palau's services, value added (constant LCU) was 203.63 million in 2024, the latest year in the World Bank's World Development Indicators. That is down 2.03% from 207.85 million in 2014 (0.2% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | 203.63 million | 2024 |
| Five years earlier | 215.84 million | 2019 |
| Ten years earlier | 207.85 million | 2014 |
| Highest | 226.44 million | 2016 |
| Lowest | 176.32 million | 2021 |
| Average since 2015 | 205.59 million | 2015–2024 |
| First recorded | 178.44 million |
What the numbers say
In 2024, Palau's services, value added (constant LCU) rose 8.9% on 2023 (from 186.98 million to 203.63 million).
Across the 23 yearly changes before that (2001 to 2023), the average change was +0.3% and a typical year strayed about 4.7% from that (the standard deviation). This year's change was 1.8 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 8.9% in 2024 and the biggest yearly fall was 12.8% 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 5.02 million a year. A straight line explains 63% 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 26th 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
- Timor-Leste — 22nd of 26: 1.17 billion
- Tonga — 23rd of 26: 528.25 million
- Kiribati — 24th of 26: 260.63 million
- Marshall Islands — 26th of 26: 142.71 million
What this measures
Services industries correspond to ISIC (Rev. 4) divisions 45-99 and includes wholesale and retail trade, repair of motor vehicles, hotels and restaurants, transport, storage and communication, financial intermediation, real estate, renting and business activities, public administration and defence, compulsory social security, education, health and social work, other community, social and personal service activities, private households with employed persons, and extra-territorial organizations and bodies. 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 25 values
| Year | Services, value added (constant LCU) |
|---|---|
| 2024 | 203,630,800 |
| 2023 | 186,978,200 |
| 2022 | 178,546,400 |
| 2021 | 176,316,800 |
| 2020 | 202,178,900 |
| 2019 | 215,839,400 |
| 2018 | 220,432,000 |
| 2017 | 219,510,700 |
| 2016 | 226,435,100 |
| 2015 | 225,996,400 |
| 2014 |
Services, value added (constant LCU) in nearby economies
- Australia — 1.8 trillion (2025)
- Brunei Darussalam — 8.07 billion (2025)
- Cambodia — 56.12 trillion (2025)
- China — 76.36 trillion (2025)
- Fiji — 7.17 billion (2025)
- Hong Kong SAR, China — 2.88 trillion (2025)
- Indonesia — 6,293.49 trillion (2025)
- Japan — 420.61 trillion (2024)
- Kiribati — 260.63 million (2024)
- Korea, Rep. — 1,347.27 trillion (2025)
- Lao PDR
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 services, value added (constant LCU)?
- 203.63 million in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 2000?
- It is up 14.12% from 178.44 million in 2000 (0.55% a year on average, compounded). The highest value was 226.44 million in 2016 and the lowest 176.32 million in 2021.
- How does Palau rank?
- 26th highest of 26 economies with data for 2024.
- Is the latest change in services, value added (constant LCU) unusual for Palau?
- In 2024, Palau's services, value added (constant LCU) rose 8.9% on 2023 (from 186.98 million to 203.63 million). Across the 23 yearly changes before that (2001 to 2023), the average change was +0.3% and a typical year strayed about 4.7% from that (the standard deviation). This year's change was 1.8 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 NV.SRV.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.
Want to ask your own questions of data like this? Try AnalyzeIt: upload a file or ask about public data in plain words, and every figure comes with its working.
Legal entity
Devansh Yadav
Moradabad, Uttar Pradesh
Governing law: Courts at Moradabad, Uttar Pradesh
Phone: +91 8433475698
Legal: legal@analyzeit.in