[ Nominal GDP in billion of USD ]
Year -
$0.29 billion
Marshall Islands GDP expanded from 1970 to 2024, increasing from $0.01 billion to $0.29 billion.The compound annual growth rate (CAGR) averaged 6.43% over the period. The economy recorded its peak level in 2024 and its lowest level in 1970. Growth volatility remained high. The maximum drawdown reached 20%, indicating the largest cyclical decline from peak levels. The country experienced 6 recession episode(s) during the observed period.
| Metric | Nominal GDP (Current USD) | GDP (PPP, Int$) |
|---|---|---|
| Latest Year | 2024 | 2024 |
| Latest GDP | $ 0.29 Billions | $ 0.31 Int Billions |
| Growth (YoY) | 9.989% | 4.981% |
| Net Change vs Previous Year | $ 0.03 Billion | $ 0.01 Int Billion |
| % of World GDP | 0.00% | 0.00% |
| Meaning | Nominal GDP (Current USD, exchange-rate based) | GDP (PPP, cost-of-living adjusted) |
| Nominal | PPP | |||||
|---|---|---|---|---|---|---|
| Year | Bil $ | Net Chg | % Chg | Int Bil $ | Net Chg | % Chg |
| 1960 | - | - | - | - | - | - |
| 1961 | - | - | - | - | - | - |
| 1962 | - | - | - | - | - | - |
| 1963 | - | - | - | - | - | - |
| 1964 | - | - | - | - | - | - |
| 1965 | - | - | - | - | - | - |
| 1966 | - | - | - | - | - | - |
| 1967 | - | - | - | - | - | - |
| 1968 | - | - | - | - | - | - |
| 1969 | - | - | - | - | - | - |
| 1970 | 0.01 | - | - | - | - | - |
| 1971 | 0.01 | 0 | 8.424 % | - | - | - |
| 1972 | 0.01 | 0 | 9.398 % | - | - | - |
| 1973 | 0.01 | 0 | 16.38 % | - | - | - |
| 1974 | 0.02 | 0 | 31.102 % | - | - | - |
| 1975 | 0.02 | 0 | 9.685 % | - | - | - |
| 1976 | 0.02 | 0 | 8.761 % | - | - | - |
| 1977 | 0.02 | 0 | 11.328 % | - | - | - |
| 1978 | 0.02 | 0 | 9.893 % | - | - | - |
| 1979 | 0.03 | 0 | 15.021 % | - | - | - |
| 1980 | 0.03 | 0 | 4.562 % | - | - | - |
| 1981 | 0.03 | 0 | 16.133 % | - | - | - |
| 1982 | 0.03 | 0 | 12.566 % | - | - | - |
| 1983 | 0.04 | 0.01 | 19.563 % | - | - | - |
| 1984 | 0.05 | 0 | 8.132 % | - | - | - |
| 1985 | 0.04 | 0 | -2.802 % | - | - | - |
| 1986 | 0.06 | 0.01 | 27.599 % | - | - | - |
| 1987 | 0.06 | 0.01 | 12.492 % | - | - | - |
| 1988 | 0.07 | 0.01 | 12.233 % | - | - | - |
| 1989 | 0.07 | 0 | 2.985 % | - | - | - |
| 1990 | 0.08 | 0.01 | 7.8 % | 0.09 | - | - |
| 1991 | 0.08 | 0 | 5.137 % | 0.1 | 0 | 3.473 % |
| 1992 | 0.09 | 0.01 | 10.37 % | 0.11 | 0.01 | 9.582 % |
| 1993 | 0.1 | 0.01 | 9.222 % | 0.12 | 0.01 | 8.519 % |
| 1994 | 0.11 | 0.01 | 8.657 % | 0.12 | 0.01 | 8.138 % |
| 1995 | 0.12 | 0.01 | 11.251 % | 0.14 | 0.01 | 10.482 % |
| 1996 | 0.11 | -0.01 | -7.795 % | 0.13 | -0.01 | -8.661 % |
| 1997 | 0.11 | 0 | -0.878 % | 0.12 | -0.01 | -4.832 % |
| 1998 | 0.11 | 0 | 1.989 % | 0.12 | 0 | 0.442 % |
| 1999 | 0.11 | 0 | 1.144 % | 0.12 | 0 | 0.061 % |
| 2000 | 0.11 | 0 | 1.311 % | 0.13 | 0.01 | 4.775 % |
| 2001 | 0.12 | 0.01 | 6.59 % | 0.14 | 0.01 | 9.338 % |
| 2002 | 0.13 | 0.01 | 7.805 % | 0.15 | 0.01 | 5.246 % |
| 2003 | 0.13 | 0 | -0.63 % | 0.15 | 0 | 0.382 % |
| 2004 | 0.13 | 0 | 1.351 % | 0.15 | 0 | 2.27 % |
| 2005 | 0.14 | 0.01 | 3.837 % | 0.16 | 0.01 | 4.983 % |
| 2006 | 0.14 | 0.01 | 3.768 % | 0.16 | 0.01 | 3.265 % |
| 2007 | 0.15 | 0.01 | 5.098 % | 0.17 | 0.01 | 6.498 % |
| 2008 | 0.15 | 0 | -2.591 % | 0.16 | -0.01 | -5.785 % |
| 2009 | 0.15 | 0 | 3.138 % | 0.17 | 0.01 | 4.305 % |
| 2010 | 0.16 | 0.01 | 6.548 % | 0.18 | 0.01 | 6.822 % |
| 2011 | 0.17 | 0.01 | 6.952 % | 0.18 | 0 | 1.55 % |
| 2012 | 0.18 | 0.01 | 4.875 % | 0.18 | 0 | 0.547 % |
| 2013 | 0.19 | 0.01 | 3.154 % | 0.19 | 0.01 | 5.576 % |
| 2014 | 0.19 | 0 | -0.215 % | 0.2 | 0 | 0.46 % |
| 2015 | 0.18 | 0 | -1.237 % | 0.2 | 0.01 | 2.831 % |
| 2016 | 0.2 | 0.02 | 9.853 % | 0.21 | 0.01 | 3.478 % |
| 2017 | 0.21 | 0.01 | 5.897 % | 0.22 | 0.01 | 5.413 % |
| 2018 | 0.22 | 0.01 | 2.948 % | 0.24 | 0.02 | 7.904 % |
| 2019 | 0.23 | 0.01 | 5.864 % | 0.27 | 0.03 | 12.275 % |
| 2020 | 0.24 | 0.01 | 3.821 % | 0.26 | 0 | -1.481 % |
| 2021 | 0.26 | 0.02 | 8.042 % | 0.28 | 0.02 | 6.824 % |
| 2022 | 0.26 | 0 | -0.965 % | 0.3 | 0.02 | 6.379 % |
| 2023 | 0.26 | 0.01 | 1.947 % | 0.29 | 0 | -1.59 % |
| 2024 | 0.29 | 0.03 | 9.989 % | 0.31 | 0.01 | 4.981 % |
Between 1970 to 2024, Marshall Islands experienced the following economic phases:
The most remarkable growth occurred in 1974 with an increase of 31.102%, while the largest decline was in 1996 at -7.795%.