Palau: Economy
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Income Level (by per capita GNI) Source: The World Bank Possible values: High Income, Upper Middle Income, Lower Middle Income and Low Income |
Upper Middle Income |
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Level of Development
Source: United Nations Possible values: Developed, In Transition and Developing |
Data unavailable |
| Economic Trivia | The service sector is the largest sector of the economy, contributing to 80% of GDP and employing 75% of the work force. |
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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 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) | $15,212 (2021) |
GDP Country Rank 195/197 (2021)
Economic Indicators [1]
| Inflation, consumer prices (annual %) | 12.353% (2022) |
| External debt stocks, total (DOD, current US$) | 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$) | ($63,534,000) (2021) |
Labor and Employment [1]
| Labor Force, Total | 941,783 (2011) |
| Employment in Agriculture (% of total employment) | 11.8% (2010) |
| Employment in Industry (% of total employment) | 24.6% (2010) |
| Employment in Services (% of total employment) | 63.6% (2010) |
| Unemployment Rate | 23.7% (2010) |
Trade [1]
| Imports of goods and services (current US$) | $217,323,900 (2018) |
| Exports of goods and services (current US$) | $133,529,000 (2018) |
| Total Merchandise Trade (% of GDP) | 93.287% (2022) |
| FDI, net inflows (BoP, current US$) | $58,050,000 (2022) |
| Commercial Service Exports (current US$) | $7,976,000 (2021) |
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.