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 (2018): United States, Singapore, and Japan
Top 3 Exported Goods (2018): Seafood, Aircraft, and Industrial Machinery

Top Industries Source: CIA World Factbook

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

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $274,178,814 (2021)
GDP Growth Rate (annual %) -13.333% (2021)
GDP Per Capita, PPP (current international) $15,212 (2021)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 195/197 (2021)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 12.353% (2022)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 76.6% (2019)
Real Interest Rate (5 year average %) Data unavailable
Manufacturing, value added (% of GDP) 1.102% (2021)
Current Account Balance (BoP, current US$) ($63,534,000) (2021)
Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

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.

Trade [1]

Imports of goods and services (current US$) $217,323,900 (2018)
Exports of goods and services (current US$) $133,529,000 (2018)
Total Merchandise Trade (% of GDP) 93.287% (2022)
FDI, net inflows (BoP, current US$) $58,050,000 (2022)
Commercial Service Exports (current US$) $7,976,000 (2021)
Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

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


  1. The World Bank