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Economy of Iran vs Marshall Islands compared: GDP & Debt

Updated on by Georank team

Iran has a GDP of $475B compared to $290M for the Marshall Islands, ranking 34/197 and 193/197 by economy size, respectively.

Iran has $162B in government debt (34% of GDP), compared to $38.4M (13.2% of GDP) in the Marshall Islands.

Iran vs Marshall Islands GDP by year

Iran
Marshall Islands
1x
Year GDP, current $
Iran Marshall Islands
2024 $475,252,089,215 $290,108,490
2023 $457,510,482,317 $263,761,322
2022 $422,662,261,526 $258,723,511
2021 $407,350,685,583 $261,245,544
2020 $280,934,329,280 $241,800,000
2019 $347,988,400,958 $232,900,000
2018 $411,903,303,606 $220,000,000
2017 $510,239,893,418 $213,700,000
2016 $478,618,064,871 $201,800,000
2015 $409,191,686,497 $183,700,000
2014 $462,284,793,281 $186,000,000
2013 $500,399,839,840 $186,400,000
2012 $644,019,315,004 $180,700,000
2011 $629,082,257,472 $172,300,000
2010 $487,069,570,464 $161,100,000
2009 $414,059,094,949 $151,200,000
2008 $406,070,949,554 $146,600,000
2007 $349,736,591,832 $150,500,000
2006 $265,602,187,404 $143,200,000
2005 $224,970,371,325 $138,000,000
2004 $187,754,571,248 $132,900,000
2003 $151,911,222,119 $131,128,500
2002 $128,626,917,504 $131,960,000
2001 $126,878,750,296 $122,406,100
2000 $109,591,707,802 $114,838,500
1999 $113,848,450,088 $113,352,100
1998 $110,276,913,363 $112,070,100
1997 $113,919,163,421 $109,884,700
1996 $120,403,931,885 $110,858,000
1995 $96,419,225,744 $120,230,000
1994 $71,841,461,173 $108,071,000
1993 $63,743,623,232 $99,461,000
1992 $119,768,691,217 $91,063,000
1991 $131,637,664,958 $82,507,000
1990 $124,813,263,926 $78,476,000
1989 $120,496,362,916 $72,798,000
1988 $123,057,861,334 $70,688,000
1987 $134,009,995,923 $62,983,000
1986 $209,094,561,833 $55,989,000
1985 $180,183,629,600 $43,879,000
1984 $162,276,728,620 $45,144,000
1983 $156,365,156,618 $41,749,000
1982 $125,948,756,439 $34,918,000
1981 $100,499,312,750 $31,020,000
1980 $94,362,275,580 $26,710,653
1979 $90,391,877,326 $25,545,346
1978 $77,994,316,621 $22,209,370
1977 $80,600,122,702 $20,210,069
1976 $68,055,295,081 $18,153,647
1975 $51,776,222,350 $16,691,301
1974 $46,209,092,072 $15,217,532
1973 $27,081,698,250 $11,607,366
1972 $17,153,463,263 $9,973,652
1971 $13,731,802,833 $9,116,810
1970 $10,976,245,154 $8,408,486
1969 $9,743,089,607 -
1968 $8,623,172,960 -
1967 $7,555,383,690 -
1966 $6,789,938,672 -
1965 $6,197,319,929 -
1964 $5,379,845,648 -
1963 $4,928,628,018 -
1962 $4,693,566,416 -
1961 $4,426,949,095 -
1960 $4,199,134,390 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/iran/marshall-islands | CC BY

GDP per capita in Iran vs Marshall Islands by year

Iran
GDP per capita

GDP per capita, PPP
Marshall Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Iran Marshall Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $5,190 $19,874 $7,726 $8,195
2023 $5,049 $18,917 $6,793 $7,549
2022 $4,721 $17,546 $6,456 $7,431
2021 $4,605 $15,884 $6,315 $6,768
2020 $3,203 $15,119 $5,662 $6,137
2019 $3,997 $13,928 $5,292 $6,045
2018 $4,783 $15,324 $4,858 $5,232
2017 $6,001 $15,719 $4,593 $4,719
2016 $5,711 $15,195 $4,230 $4,366
2015 $4,953 $14,274 $3,764 $4,125
2014 $5,672 $16,065 $3,735 $3,931
2013 $6,223 $16,215 $3,678 $3,845
2012 $8,114 $17,021 $3,514 $3,590
2011 $8,026 $19,275 $3,319 $3,537
2010 $6,291 $18,628 $3,095 $3,473
2009 $5,416 $17,615 $2,907 $3,253
2008 $5,377 $17,549 $2,818 $3,118
2007 $4,688 $17,384 $2,892 $3,309
2006 $3,619 $15,907 $2,754 $3,110
2005 $3,132 $15,016 $2,659 $3,017
2004 $2,672 $14,425 $2,566 $2,880
2003 $2,209 $13,755 $2,539 $2,824
2002 $1,891 $12,554 $2,566 $2,825
2001 $1,881 $11,533 $2,394 $2,700
2000 $1,650 $11,187 $2,265 $2,490
1999 $1,740 $10,489 $2,258 $2,400
1998 $1,709 $10,285 $2,254 $2,422
1997 $1,790 $10,101 $2,231 $2,434
1996 $1,915 $9,916 $2,273 $2,583
1995 $1,550 $9,255 $2,491 $2,858
1994 $1,168 $8,951 $2,265 $2,617
1993 $1,038 $8,933 $2,112 $2,452
1992 $1,957 $8,888 $1,963 $2,293
1991 $2,194 $8,580 $1,811 $2,131
1990 $2,138 $7,566 $1,758 $2,102
1989 $2,125 - $1,670 -
1988 $2,234 - $1,670 -
1987 $2,513 - $1,543 -
1986 $4,064 - $1,425 -
1985 $3,634 - $1,162 -
1984 $3,395 - $1,245 -
1983 $3,397 - $1,199 -
1982 $2,845 - $1,046 -
1981 $2,393 - $969 -
1980 $2,368 - $868 -
1979 $2,352 - $859 -
1978 $2,101 - $771 -
1977 $2,243 - $724 -
1976 $1,954 - $672 -
1975 $1,532 - $638 -
1974 $1,409 - $602 -
1973 $851 - $472 -
1972 $555 - $416 -
1971 $457 - $390 -
1970 $377 - $373 -
1969 $345 - - -
1968 $314 - - -
1967 $283.7 - - -
1966 $262.9 - - -
1965 $247.5 - - -
1964 $221.7 - - -
1963 $209.6 - - -
1962 $205.8 - - -
1961 $200.1 - - -
1960 $195.6 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/iran/marshall-islands | CC BY

Iran's GDP per capita is $5,190, ranking 119/197, compared to $7,726 in the Marshall Islands, ranking 96/197. Adjusted for purchasing power (GDP per capita PPP), Iran ranks 97th at $19,874, while the Marshall Islands ranks 139th at $8,195.

Economic indicators

Iran Marshall Islands
Gross domestic product
$475B
2024
$290M
2024
GDP rank
34/197
2024
193/197
2024
GDP growth
3.66%
2023-2024
2.5%
2023-2024
GDP per capita
$5,190
2024
$7,726
2024
GDP per capita rank
119/197
2024
96/197
2024
GDP per capita, PPP
$19,874
2024
$8,195
2024
GDP per capita PPP rank
97/197
2024
139/197
2024
Government debt
$162B
2024
$38.4M
2024
Debt-to-GDP ratio
34%
2024
13.2%
2024
Government debt per person
$1,764
2024
$1,022
2024
Government debt per person rank
122/185
2024
142/185
2024
Average annual personal income after taxes
$2,964
2026
$5,044
2026
Market capitalization of domestic companies
$172B
2024
n/a
Income share by richest 10%
28.2%
2023
27.5%
2019
Income share by poorest 10%
2.8%
2023
2.8%
2019
Government expenditure, % of GDP
14.2%
2024
71.6%
2024
Consumer prices inflation
32.5%
2023-2024
5.2%
2023-2024
Central bank interest rate
23%
2023
n/a
Unemployment rate
7.63%
2024
9.82%
2021
Population
93468444
35058

Spending and national debt comparison by year

Iran
Spending

Debt
Marshall Islands
Spending

Debt
1x
Year % of GDP
Iran Marshall Islands
Government spending Government debt Government spending Government debt
2024 14.2% 34% 71.6% 13.2%
2023 12.8% 29.6% 68.4% 18.2%
2022 12.8% 34.5% 67.7% 19.8%
2021 13.4% 39.9% 69.8% 20.1%
2020 12.1% 47.1% 67.8% 21.7%
2019 13.6% 44.6% 65.5% 25.1%
2018 14.8% 41.6% 60.5% 24.7%
2017 16.4% 43.2% 63.7% 26.5%
2016 16.3% 45.9% 56.8% 29.2%
2015 14.1% 32.1% 56.3% 33.9%
2014 12.3% 10.9% 49.2% 34.9%
2013 11.5% 10.2% 55% 33.4%
2012 11.4% 11.7% 53.2% 37.6%
2011 14.6% 10.6% 55.9% 35.9%
2010 14.1% 12.8% 59.2% 38.8%
2009 15.7% 11.5% 63.1% 41.2%
2008 16.8% 10.6% 64.3% 44.1%
2007 14.2% 13.5% 67.2% 42.2%
2006 18.7% 15.2% 61.2% 44.4%
2005 17.9% 18.3% 85.3% 45.8%
2004 15.1% 21.1% 54.5% 46.8%
2003 15.7% 21.9% 52.9% 43.7%
2002 15.6% 23.4% 55.2% 37.2%
2001 13.6% 21% 58.8% 32.7%
2000 13.3% 18.2% 56.5% 27.3%
1999 15.7% 22.2% 48.7% 26.1%
1998 16.9% 29.6% 50.5% 18.1%
1997 17.4% 30.9% 55% 8.73%
1996 17.3% 29.3% - -
1995 21% 31.2% - -
1994 23% 41.7% - -
1993 27.2% 25.6% - -
1992 14.4% 25.2% - -
1991 14% 29.3% - -
1990 16.4% 37% - -
1989 20% 48.8% - -
1988 23.6% 53.2% - -
1987 18.6% 48.6% - -
1986 19% 47.4% - -
1985 21.6% 8.73% - -
1984 23.7% 10% - -
1983 27.5% 35.7% - -
1982 29.7% 47.7% - -
1981 33.7% 47.6% - -
1980 35.8% 35.5% - -
1979 - - - -
1978 - - - -
1977 - 9.23% - -
1976 - 6.92% - -
1975 - 8.81% - -
1974 - 6.68% - -
1973 - 12.8% - -
1972 - 12.7% - -
1971 - 14.2% - -
1970 - 14.1% - -
1969 - - - -
1968 23.6% - - -
1967 22.3% - - -
1966 20.5% - - -
1965 16.3% 14.9% - -
1964 15.4% 15.2% - -
1963 14.8% 12.4% - -
1962 15.6% 13.4% - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20).

GeoRank.org/economy/iran/marshall-islands | CC BY

In 2024, Iran's government spending was $67.5B, accounting for 14.2% of its GDP, while the Marshall Islands spent $208M, or 71.6% of GDP.

Debt-to-GDP ratio is 34% in Iran and 13.2% in the Marshall Islands, ranking 147/185 and 179/185, respectively.

Government deficit by year

Deficit/surplus
Iran

Marshall Islands
1x
Year Deficit/surplus, % of GDP
Iran Marshall Islands
2024 -3.83% 3.61%
2023 -2.54% 1.14%
2022 -2.64% 0.68%
2021 -3.01% 0.18%
2020 -4.87% 2.54%
2019 -4.3% -1.8%
2018 -1.59% 2.55%
2017 -1.55% 4.38%
2016 -1.7% 3.88%
2015 -1.3% 2.81%
2014 -0.91% 3.2%
2013 -0.72% -0.23%
2012 -0.5% -0.76%
2011 -0.66% 2.13%
2010 -0.84% 3.51%
2009 -3.3% 1.51%
2008 -4.39% 3.68%
2007 -2.41% 0.27%
2006 -4.91% 0.24%
2005 -2.44% -22.3%
2004 -2.45% -1.6%
2003 -2.76% 10.5%
2002 -2.88% 5.12%
2001 0.02% 7.83%
2000 5.42% 7.84%
1999 -0.51% 9.01%
1998 -5.03% 13.5%
1997 -1.81% 7.91%
1996 -0.75% -
1995 -2.63% -
1994 -3.36% -
1993 -5.15% -
1992 -0.86% -
1991 -1.64% -
1990 -1.73% -
1989 -4.45% -
1988 -10.3% -
1987 -6.84% -
1986 -7.84% -
1985 -3.74% -
1984 -4.02% -
1983 -6.15% -
1982 -5.55% -
1981 -10.7% -
1980 -14.2% -
1979 - -
1978 - -
1977 - -
1976 - -
1975 - -
1974 - -
1973 - -
1972 - -
1971 - -
1970 - -
1969 - -
1968 -4.57% -
1967 -4% -
1966 -2.63% -
1965 -1.23% -
1964 -0.04% -
1963 0.26% -
1962 -1.39% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1962–1989, retrieved 2026-02-20).

GeoRank.org/economy/iran/marshall-islands | CC BY

In 2024, Iran's government deficit, the difference between spending and revenue, was $18.2B, equivalent to 3.83% of GDP. This compares to the Marshall Islands' surplus of $10.5M, or 3.61% of GDP.

Over the past 28 years, Iran recorded a fiscal deficit in 26 of those years, while the Marshall Islands ran a deficit in 5 years. On average, Iran posted an annual deficit equal to 2.08% of GDP, compared to surplus of 2.55% of GDP for the Marshall Islands.

Inflation comparison by year

Inflation
Iran

Marshall Islands
1x
Year Consumer prices inflation
Iran Marshall Islands
2024 32.5% 5.2%
2023 44.6% 7.4%
2022 43.5% 2.8%
2021 43.4% 2.2%
2020 30.6% -0.7%
2019 39.9% -0.1%
2018 18% 0.8%
2017 8.04% 0.1%
2016 7.25% -1.5%
2015 12.5% -2.2%
2014 16.6% 1.1%
2013 36.6% 1.9%
2012 27.3% 4.3%
2011 26.3% 5.4%
2010 10.1% 1.8%
2009 13.6% 0.5%
2008 25.4% 14.7%
2007 17.3% 2.6%
2006 10% 5.3%
2005 13.4% 3.5%
2004 14.8% 2%
2003 16.5% -
2002 14.3% -
2001 11.3% -
2000 14.5% -
1999 20.1% -
1998 17.9% -
1997 17.3% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2004–2024, retrieved 2026-02-20).

GeoRank.org/economy/iran/marshall-islands | CC BY

Over the past 21 years, Iran has recorded an average annual inflation rate of 23.4%, compared with 2.72% in the Marshall Islands. In 2024, inflation was 32.5% in Iran and 5.2% in the Marshall Islands.

Balance of trade

Iran Marshall Islands
Current account balance
$12.5B
2000
$76.3M
2021
Current account balance ranking
22/190
2000
70/190
2021
Current account balance, % of GDP
+11.4%
2000
+29.2%
2021
Goods imports
$15.2B
2000
$133M
2021
Goods exports
$28.3B
2000
$121M
2021
Service imports
$2.3B
2000
$73.1M
2021
Service exports
$1.38B
2000
$9.44M
2021
Imports of goods and services, % of GDP
28.5%
2024
81.7%
2024
Exports of goods and services, % of GDP
23.6%
2024
42.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Iran Marshall Islands
Economic freedom 41.8 58
Economic freedom ranking 185/197 113/197
Property rights 20.2 n/a
Government integrity 16.2 n/a
Judicial effectiveness 18.7 n/a
Tax burden 81.3 n/a
Government spending 94.7 n/a
Fiscal health 83.3 n/a
Business freedom 37.4 n/a
Labor freedom 41.8 n/a
Monetary freedom 42.2 n/a
Trade freedom 55.8 n/a
Investment freedom 5 n/a
Financial freedom 5 n/a

Other economic metrics

Iran Marshall Islands
Services, % of GDP
49.8%
2024
67%
2024
Industry, % of GDP
36.1%
2024
13.2%
2024
Agriculture, forestry, and fishing, % of GDP
10.8%
2024
19.6%
2024
GNI, Atlas method
$469B
2024
$319M
2024
GNI per capita, PPP
$19,820
2024
$9,680
2024
Total reserves including gold
$7.69B
1982
n/a
Total reserves ranking
85/177
1982
n/a
Net foreign direct investment
-$39M
2000
-$499K
2021
Net inflows of foreign direct investment
$1.45B
2024
$1.7M
2024
Net outflows of foreign direct investment
$89.4M
2024
$0
2024
Servicing debt to the IMF, % of GNI
0.08%
2024
n/a
Poverty at national poverty lines
18.7%
2020
7.2%
2019
Gross capital formation, % of GDP
44.3%
2024
20.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/iran/marshall-islands | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1990–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1962–1995, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.