Palau: Economy

Economic Trivia

The service sector is the largest sector of the economy, contributing to 80% of GDP and employing 75% of the work force.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2014): United States, Singapore, and Japan
Top 3 Exported Goods (2014): Seafood, Iron & Steel Articles, and Precision Instruments

Top Industries Source: CIA World Factbook

Tourism; Craft Items (from Shell, Wood, Pearls); Construction; Garment Making

Gross Domestic Product (GDP) Source: The World Bank

GDP, PPP (current international) $311,321,491 (2014)
GDP Growth Rate (annual %) 7.952% (2014)
GDP Per Capita, PPP (current international) $14,757 (2014)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 190/193 (2014)

Economic Indicators Source: The World Bank

Inflation, consumer prices (annual %) 2.754% (2009)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 75.4% (2015)
Real Interest Rate (5 year average %) Data unavailable
Manufacturing, value added (% of GDP) 1.141% (2014)
Current Account Balance (BoP, current US$) ($690,734,750) (2010)
Click on a row to display its 5-year graph on the right.

Labor and Employment Source: The World Bank

Labor Force, Total 941,783 (2011)
Employment in Agriculture (% of total employment) 11.8% (2010)
Employment in Industry (% of total employment) 24.6% (2010)
Employment in Services (% of total employment) 63.6% (2010)
Unemployment Rate 23.7% (2010)
Click on a row to display its 5-year graph on the right.
Imports of goods and services (current US$) $219,981,238 (2014)
Exports of goods and services (current US$) $158,260,886 (2014)
Total Merchandise Trade (% of GDP) 74.214% (2014)
FDI, net inflows (BoP, current US$) $39,860,115 (2014)
Commercial Service Exports (current US$) $783,458,823 (2010)
Click on a row to display its 5-year graph on the right.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Palau’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:
  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Glossary