World Factbook

Marshall Islands

Republic of the Marshall Islands

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenses (excluding grants/extrabudgetary units/social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$171.267 million (2020 est.)

expenditures

$159.095 million (2020 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2019

$91.394 million (2019 est.)

Exports 2020

$88.042 million (2020 est.)

Exports 2021

$130.016 million (2021 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2019

$129.682 million (2019 est.)

Imports 2020

$132.845 million (2020 est.)

Imports 2021

$206.025 million (2021 est.)

Industries

copra, tuna processing, tourism, craft items (from seashells, wood, and pearls)

Public debt

note

note: central government debt as a % of GDP

Public debt 2019

41.6% of GDP (2019 est.)

Remittances

note

note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

13.3% of GDP (2021 est.)

Remittances 2022

13.6% of GDP (2022 est.)

Remittances 2023

13.3% of GDP (2023 est.)

Exchange rates

the US dollar is used

Economic overview

upper middle-income Pacific island economy; US aid reliance; large public sector; coconut oil production as diesel fuel substitute; growing offshore banking locale; fishing rights seller; import-dependent

Exports - partners

UK 16%, Germany 13%, Denmark 10%, Ghana 9%, Cyprus 9% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

China 47%, Japan 15%, Germany 5%, Brazil 4%, Cyprus 4% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$6,800 (2022 est.)

Real GDP per capita 2023

$6,800 (2023 est.)

Real GDP per capita 2024

$7,200 (2024 est.)

Real GDP growth rate

note

note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

-1.1% (2022 est.)

Real GDP growth rate 2023

-3.9% (2023 est.)

Real GDP growth rate 2024

2.8% (2024 est.)

Agricultural products

coconuts (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

ships, refined petroleum, fish, natural gas, stone processing machines (2023)

note: top five export commodities based on value in dollars

Imports - commodities

ships, refined petroleum, additive manufacturing machines, iron structures, crude petroleum (2023)

note: top five import commodities based on value in dollars

Current account balance

note

note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2019

$86.133 million (2019 est.)

Current account balance 2020

$90.281 million (2020 est.)

Current account balance 2021

$76.263 million (2021 est.)

Taxes and other revenues

17.2% (of GDP) (2020 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$280.358 million (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

70.7% (2023 est.)

government consumption

53.5% (2023 est.)

investment in inventories

-0.5% (2023 est.)

investment in fixed capital

20.2% (2023 est.)

exports of goods and services

38.9% (2023 est.)

imports of goods and services

-71.2% (2023 est.)

Population below poverty line

7.2% (2019 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2020

-0.7% (2020 est.)

Inflation rate (consumer prices) 2021

2.6% (2021 est.)

Inflation rate (consumer prices) 2022

6.2% (2022 est.)

Industrial production growth rate

-2.8% (2023 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$274.3 million (2022 est.)

Real GDP (purchasing power parity) 2023

$263.507 million (2023 est.)

Real GDP (purchasing power parity) 2024

$270.809 million (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

11.1% (2023 est.)

services

70.5% (2023 est.)

agriculture

19.5% (2023 est.)

Household income or consumption by percentage share

note

note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.8% (2019 est.)

highest 10%

27.5% (2019 est.)

Gini Index coefficient - distribution of family income

note

note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2019

35.5 (2019 est.)