Australia vs the Marshall Islands: Economic Indicators Comparison

Australia with a GDP of $1.4T ranked the 13th largest economy in the world, while the Marshall Islands ranked 193rd with $221.3M. By GDP per capita, Australia and the Marshall Islands ranked 13th vs 123rd, respectively.

Gross Domestic Product & Income

StatAustraliaMarshall Islands
GDP$1.4T$221.3M
GDP growth, 1 year2.8%3.62%
GDP growth, 5-years average2.6%N/A
Population24.5M53k
GDP per capita$57k$3.8k
GDP per capita growth1.33%2.99%
Purchasing Power Parity conversion factor1.430.95
Price level ratio of PPP conversion factor GDP to market exchange rate1.110.95
GDP per capita, PPP adjusted$52k$4k
GNI, Atlas method$1.3T$283.7M
GNI per capita$53k$4.9k
GNI, PPP adjusted$1.3T$297.6M
GNI per capita, PPP adjusted$50k$5.1k

Financial system and Human development

StatAustraliaMarshall Islands
Income Tax Rate45%N/A
Corporate Tax Rate30%N/A
Inflation, consumer prices2%N/A
Inflation, GDP deflator1.9%0.3%
Unemployment5.4%4.7%
Economic Freedom Index82.658
Personal Freedom Index9.296.2
Human Freedom Index8.736.2
Property Rights Index82.8N/A
Judical Effectiveness Index86.1N/A
Business Freedom Index87.8N/A
Fiscal Health Index91.8N/A
Labor Freedom Index84N/A
Investment Freedom Index80N/A
Financial Freedom Index90N/A
Trade Freedom Index88.2N/A
Monetary Freedom Index86.2N/A
Government Spending Index61.6N/A
Tax Burden Index63N/A
Government Integrity Index89.3N/A
Corruption Perceptions Index7764
Life expectancy at birth, years82.565.2
Suicide mortality rate, per 100,000 people13.21
Mortality caused by road traffic injury, per 100,000 people5.65.7
Intentional homicides, per 100,000 people0.84
International tourism, number of arrivals9.2M6.8k

Government debt & reserves

StatAustraliaMarshall Islands
Central government debt, % of GDP40.7%48.9%
External debt stocks, % of GNIN/AN/A
External debt stocksN/AN/A
Short-term debt, % of total reservesN/AN/A
Total debt service, % of exports and primary incomeN/AN/A
Adjusted net savings including particulate emission damage, % of GNI5.6%N/A
Gross savings, % of GDP21.7%17.2%
Gross capital formation, % of GDP24.5%23.4%
Total reserves including gold$53.9BN/A
Foreign direct investment net inflows$60.3B$9.8M

Exports, imports and economic structure

StatAustraliaMarshall Islands
Exports of goods and services, % of GDP21.8%40.4%
Imports of goods and services, % of GDP21.4%85.3%
Current account balance (balance of payments)-$29.7B$53M
Revenue excluding grants, % of GDP25.7%32.2%
Grants excluding technical cooperation, BoPN/A$50.6M
Personal remittances received$1.9B$31.5M
Industry including construction value added, % of GDP24.1%12.8%
Agriculture, forestry and fishing value added, % of GDP2.5%15.2%
Charges for the use of intellectual property, payments BoP$3.6BN/A
Charges for the use of intellectual property, receipts BoP$973.4MN/A
Expense, % of GDP26.1%57.9%
Government Expenditure, % of GDP35.8%N/A

Compare with countries close by GDP per capita

Australia vs

CountryGDP
per capita
Population
Liechtenstein
$165k
37.9k
Luxembourg
$117k
626k
Switzerland
$83k
8.47M
Norway
$82k
5.37M
Cayman Islands
$81k
58.4k
Ireland
$79k
4.76M
Iceland
$73k
357k
Qatar
$69k
2.64M
Singapore
$65k
5.89M
United States
$63k
325M
Denmark
$61k
5.83M
Sweden
$55k
10.3M
Netherlands
$53k
17.3M
Austria
$51k
8.81M
Finland
$50k
5.5M
San Marino
$48k
33.4k
Germany
$48k
83.1M
Belgium
$48k
11.4M
Canada
$46k
37.9M
United Arab Emirates
$43k
9.4M
United Kingdom
$43k
66M
Andorra
$42k
76.2k
New Zealand
$42k
4.94M
Israel
$42k
9.09M
France
$41k
66.6M
Japan
$39k
127M
Italy
$34k
60.3M
Kuwait
$34k
4.6M
Bahamas
$32k
395k
Brunei
$32k
429k

Marshall Islands vs

CountryGDP
per capita
Population
Guyana
$5k
778k
Belize
$4.9k
375k
Azerbaijan
$4.7k
10M
Georgia
$4.7k
3.72M
Guatemala
$4.5k
17.3M
Tonga
$4.4k
108k
Jordan
$4.2k
10.4M
Armenia
$4.2k
2.93M
Samoa
$4.2k
196k
Eswatini
$4.1k
1.37M
Mongolia
$4.1k
3.08M
Algeria
$4.1k
41.3M
Sri Lanka
$4.1k
21.4M
El Salvador
$4.1k
6.42M
Indonesia
$3.9k
264M
Tuvalu
$3.7k
11.2k
Cape Verde
$3.6k
546k
Bolivia
$3.5k
11.1M
Tunisia
$3.4k
11.6M
Angola
$3.4k
29.8M
Bhutan
$3.2k
808k
Morocco
$3.2k
36M
Moldova
$3.2k
2.55M
Palestine
$3.2k
4.68M
Vanuatu
$3.1k
276k
Philippines
$3.1k
105M
Ukraine
$3.1k
42.6M
Djibouti
$3.1k
957k
Papua New Guinea
$2.7k
8.25M
Vietnam
$2.6k
94.7M