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Marshall Islands Economy 2017
https://theodora.com/wfbcurrent/marshall_islands/marshall_islands_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Marshall Islands Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
US assistance and lease payments for the use of Kwajalein Atoll as a US military base are the mainstay of this small island country. Agricultural production, primarily subsistence, is concentrated on small farms; the most important commercial crops are coconuts and breadfruit. Industry is limited to handicrafts, tuna processing, and copra. Tourism holds some potential. The islands and atolls have few natural resources, and imports exceed exports.The Marshall Islands received roughly $1 billion in aid from the US during 1986-2001 under the original Compact of Free Association (Compact). In 2002 and 2003, the US and the Marshall Islands renegotiated the Compact's financial package for a 20-year period, from 2004 to 2024. Under the amended Compact, the Marshall Islands will receive roughly $1.5 billion in direct US assistance. Under the amended Compact, the US and Marshall Islands are also jointly funding a Trust Fund for the people of the Marshall Islands that will provide an income stream beyond 2024, when direct Compact aid ends.

GDP (purchasing power parity):
$180 million (2016 est.) $176.9 million (2015 est.) $174.5 million (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 221
[see also: GDP country ranks ]

GDP (official exchange rate):
$188 million (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.7% (2016 est.) 1.4% (2015 est.) 0.4% (2014 est.)
country comparison to the world: 152
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,300 (2016 est.) $3,200 (2015 est.) $3,200 (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 188
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 4.4%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 9.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 85.7% (2013 est.)
[see also: GDP - composition, by sector of origin - services 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 ]

Labor force:
10,670 (2013 est.)
country comparison to the world: 216
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 11%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 16.3%
[see also: Labor force - by occupation - industry country ranks ]
services: 72.7% (2011 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
36% (2006 est.) 30.9% (2000 est.)
country comparison to the world: 195
[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: $116.7 million
[see also: Budget revenues country ranks ]
expenditures: $113.9 million (2013 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
62.1% of GDP (2013 est.)
country comparison to the world: 7
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
1.5% of GDP (2013 est.)
country comparison to the world: 16
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
51.3% of GDP (2013)
country comparison to the world: 84
[see also: Public debt country ranks ]

Fiscal year:
1 October - 30 September

Inflation rate (consumer prices):
0.7% (2016 est.) -2.2% (2015 est.)
country comparison to the world: 57
[see also: Inflation rate (consumer prices) country ranks ]

Current account balance:
-$14 million (2016 est.) -$6 million (2015 est.)
country comparison to the world: 57
[see also: Current account balance country ranks ]

Exports:
$53.7 million (2013 est.) $58.1 million (2012)
country comparison to the world: 202
[see also: Exports country ranks ]

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

Imports:
$133.7 million (2013 est.) $120.9 million (2012)
country comparison to the world: 213
[see also: Imports country ranks ]

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

Debt - external:
$97.96 million (2013 est.) $87 million (2008 est.)
country comparison to the world: 194
[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 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Marshall Islands Economy 2017 information contained here. All suggestions for corrections of any errors about Marshall Islands Economy 2017 should be addressed to the CIA.




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