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Marshall Islands Economy 2011
https://theodora.com/wfb2011/marshall_islands/marshall_islands_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 11, 2011

Economy - overview:
US Government assistance is the mainstay of this tiny island economy. The Marshall Islands received more than $1 billion in aid from the US from 1986-2002. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Small-scale industry is limited to handicrafts, tuna processing, and copra. The tourist industry, now a small source of foreign exchange employing less than 10% of the labor force, remains the best hope for future added income. The islands have few natural resources, and imports far exceed exports. Under the terms of the Amended Compact of Free Association, the US will provide millions of dollars per year to the Marshall Islands (RMI) through 2023, at which time a Trust Fund made up of US and RMI contributions will begin perpetual annual payouts. Government downsizing, drought, a drop in construction, the decline in tourism, and less income from the renewal of fishing vessel licenses have held GDP growth to an average of 1% over the past decade.

GDP (purchasing power parity):
$133.5 million (2008 est.)
country comparison to the world: 220

$115 million (2001 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$161.7 million (2008 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-0.3% (2008 est.)
country comparison to the world: 192

3.5% (2005 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$2,500 (2008 est.)
country comparison to the world: 180

$2,900 (2005 est.)
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 31.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 14.9%
[see also: GDP - composition by sector - industry country ranks ]
services: 53.4% (2004 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
14,680 (2000)
country comparison to the world: 213
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 21.4%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 20.9%
[see also: Labor force - by occupation - industry country ranks ]
services: 57.7% (2000)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
36% (2006 est.)
country comparison to the world: 186

30.9% (2000 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $123.3 million
[see also: Budget - revenues country ranks ]
expenditures: $1.213 billion (2008)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
12.9% (2008 est.)
country comparison to the world: 212

3% (2005 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Agriculture - products:
coconuts, tomatoes, melons, taro, breadfruit, fruits; pigs, chickens

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Exports:
$19.4 million (2008 est.)
country comparison to the world: 207

$9.1 million (2000 est.)
[see also: Exports country ranks ]

Exports - commodities:
copra cake, coconut oil, handicrafts, fish

Imports:
$79.4 million (2008 est.)
country comparison to the world: 213

$54.7 million (2000 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and equipment, fuels, beverages and tobacco

Debt - external:
$87 million (2008 est.)
country comparison to the world: 181

$86.5 million (FY99/00 est.)
[see also: Debt - external country ranks ]

Exchange rates:
the US dollar is used


NOTE: The information regarding Marshall Islands on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Marshall Islands Economy 2011 information contained here. All suggestions for corrections of any errors about Marshall Islands Economy 2011 should be addressed to the CIA.



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