Tuvalu's net errors and omissions (current US$, BoP) was −US$2.81 million in 2023, the latest year in the World Bank's World Development Indicators. That is down 127.17% from US$10.33 million in 2013.
Key figures
| Value | Year | |
|---|---|---|
| Latest | −US$2.81 million | 2023 |
| Five years earlier | US$5.44 million | 2018 |
| Ten years earlier | US$10.33 million | 2013 |
| Highest | US$11.69 million | 2011 |
| Lowest | −US$9.73 million | 2003 |
| Average since 2014 | US$1.57 million | 2014–2023 |
| First recorded | −US$6.04 million |
What the numbers say
In 2023, Tuvalu's net errors and omissions (current US$, BoP) fell US$3.19 million on 2022 (from US$378,215 to −US$2.81 million).
Across the 21 yearly changes before that (2002 to 2022), the average change was +US$305,392 and a typical year strayed about US$6.55 million from that (the standard deviation). This year's change was 0.5 standard deviations below 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 US$12.58 million in 2004 and the biggest yearly fall was US$13.81 million 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 2014 to 2023 there is no clear straight-line trend: a straight line explains 14% 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 2023, Tuvalu had the 8th highest value of the 12 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 Tuvalu in the 2023 ranking
- Sint Maarten (Dutch part) — 5th of 12: US$11.07 million
- Benin — 6th of 12: US$3.83 million
- Comoros — 7th of 12: −US$2.34 million
- Aruba — 9th of 12: −US$31.77 million
- Palau — 10th of 12: −US$38.18 million
- South Sudan — 11th of 12: −US$92.8 million
What this measures
Net errors and omissions constitute a residual category needed to ensure that accounts in the balance of payments statement sum to zero. Net errors and omissions are derived as the balance on the financial account minus the balances on the current and capital accounts. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
All 23 values
| Year | Net errors and omissions (current US$, BoP) |
|---|---|
| 2023 | -2,807,407 |
| 2022 | 378,215 |
| 2021 | 6,447,953 |
| 2020 | -389,751 |
| 2019 | -1,909,792 |
| 2018 | 5,438,502 |
| 2017 | -864,188 |
| 2016 | -2,268,555 |
| 2015 | 4,963,097 |
| 2014 | 6,677,304 |
| 2013 |
Net errors and omissions (current US$, BoP) in nearby economies
- Australia — −US$8.02 billion (2025)
- Brunei Darussalam — −US$562.85 million (2025)
- Cambodia — US$1.41 billion (2025)
- China — US$38.5 billion (2025)
- Fiji — US$36.77 million (2024)
- French Polynesia — −US$34.59 million (2016)
- Hong Kong SAR, China — US$18.83 billion (2025)
- Indonesia — −US$2.48 billion (2025)
- Japan — −US$13.57 billion (2025)
- Kiribati
More economic policy & debt data for Tuvalu
- GDP (current US$) — US$57.35 million (2025)
- GDP (current LCU) — 89 million (2025)
- GDP (constant 2015 US$) — US$42.97 million (2025)
- GDP (constant LCU) — 62 million (2025)
- GDP per capita (current US$) — US$6,041 (2025)
- GDP per capita (current LCU) — 9,376 (2025)
- GDP per capita (constant 2015 US$) — US$4,527 (2025)
- GDP per capita (constant LCU) — 6,532 (2025)
- GNI (current US$) — US$93.35 million (2025)
- GNI (current LCU) — 144.89 million (2025)
- GNI per capita (current LCU) — 15,264 (2025)
Reading data like this
Questions people ask
- What is Tuvalu's net errors and omissions (current US$, BoP)?
- −US$2.81 million in 2023, according to the World Bank (World Development Indicators).
- How has it changed since 2001?
- It is up 53.48% from −US$6.04 million in 2001. The highest value was US$11.69 million in 2011 and the lowest −US$9.73 million in 2003.
- How does Tuvalu rank?
- 8th highest of 12 economies with data for 2023.
- Is the latest change in net errors and omissions (current US$, BoP) unusual for Tuvalu?
- In 2023, Tuvalu's net errors and omissions (current US$, BoP) fell US$3.19 million on 2022 (from US$378,215 to −US$2.81 million). Across the 21 yearly changes before that (2002 to 2022), the average change was +US$305,392 and a typical year strayed about US$6.55 million from that (the standard deviation). This year's change was 0.5 standard deviations below 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 BN.KAC.EOMS.CD, licensed CC BY 4.0. Original source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF) 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