Tuvalu: Net secondary income (current US$, BoP)

Key figures

What the numbers say

In 2023, Tuvalu's net secondary income (current US$, BoP) rose 127.4% on 2022 (from US$12.92 million to US$29.37 million).

Across the 21 yearly changes before that (2002 to 2022), the average change was +13.4% and a typical year strayed about 42.6% from that (the standard deviation). This year's change was 2.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 127.4% in 2023 and the biggest yearly fall was 63% in 2013. 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 20% 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 7th 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

• South Sudan — 4th of 12: US$915.91 million
• Comoros — 5th of 12: US$323.58 million
• Benin — 6th of 12: US$258.86 million
• Palau — 8th of 12: US$25.85 million
• Curaçao — 9th of 12: −US$24.18 million
• Aruba — 10th of 12: −US$77.68 million

What this measures

Net secondary income (from abroad) comprises transfers of income between residents of the reporting country and the rest of the world that carry no provisions for repayment. Net secondary income is equal to the unrequited transfers of income from nonresidents to residents minus the unrequited transfers from residents to nonresidents. 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.

Limitations: Discrepancies may arise in the balance of payments because there is no single source for balance of payments data and therefore no way to ensure that the data are fully consistent. Sources include customs data, monetary accounts of the banking system, external debt records, information provided by enterprises, surveys to estimate service transactions, and foreign exchange records. Differences in collection methods - such as in timing, definitions of residence and ownership, and the exchange rate used to value transactions - contribute to net errors and omissions. In addition, smuggling and other illegal or quasi-legal transactions may be unrecorded or misrecorded.

All 23 values

Net secondary income (current US$, BoP) in nearby economies

• Australia — −US$1.1 billion (2025)
• Brunei Darussalam — −US$718.16 million (2025)
• Cambodia — US$2.44 billion (2025)
• China — US$22.12 billion (2025)
• Fiji — US$510.04 million (2024)
• French Polynesia — US$531.65 million (2016)
• Hong Kong SAR, China — −US$3.01 billion (2025)
• Indonesia — US$6.72 billion (2025)
• Japan — −US$37.35 billion (2025)
• Kiribati — US$98.25 million (2025)

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

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Questions people ask

What is Tuvalu's net secondary income (current US$, BoP)?

US$29.37 million in 2023, according to the World Bank (World Development Indicators).

How has it changed since 2001?

It is up 536.74% from US$4.61 million in 2001 (8.78% a year on average, compounded). The highest value was US$32.42 million in 2021 and the lowest US$4.61 million in 2001.

How does Tuvalu rank?

7th highest of 12 economies with data for 2023.

Is the latest change in net secondary income (current US$, BoP) unusual for Tuvalu?

In 2023, Tuvalu's net secondary income (current US$, BoP) rose 127.4% on 2022 (from US$12.92 million to US$29.37 million). Across the 21 yearly changes before that (2002 to 2022), the average change was +13.4% and a typical year strayed about 42.6% from that (the standard deviation). This year's change was 2.7 standard deviations above that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator BN.TRF.CURR.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.

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