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 (2017): United States, Singapore, and Japan
Top 3 Exported Goods (2017): Industrial Machinery, Seafood, and Precision Instruments

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) $322,763,813 (2017)
GDP Growth Rate (annual %) -3.571% (2017)
GDP Per Capita, PPP (current international) $14,854 (2017)
Click on a row to display its 5-year graph on the right.

GDP Country Rank 191/195 (2017)

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 %) 1.28% (2017)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 75.8% (2018)
Real Interest Rate (5 year average %) Data unavailable
Manufacturing, value added (% of GDP) 0.97% (2017)
Current Account Balance (BoP, current US$) ($24,245,932) (2015)
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$) $218,386,124 (2017)
Exports of goods and services (current US$) $141,564,419 (2017)
Total Merchandise Trade (% of GDP) 56.667% (2017)
FDI, net inflows (BoP, current US$) $35,477,272 (2017)
Commercial Service Exports (current US$) $161,940,447 (2015)
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