Skip to content

Economy of Marshall Islands vs South Africa compared: GDP & Debt

Updated on by Georank

The Marshall Islands has a GDP of $308M compared to $427B for South Africa, ranking 194/197 and 40/197 by economy size, respectively.

The Marshall Islands has $36.3M in government debt (11.8% of GDP), compared to $336B (78.6% of GDP) in South Africa.

Marshall Islands vs South Africa GDP by year

Marshall Islands
South Africa
1x
Year GDP, current $
Marshall Islands South Africa
2025 $308,000,000 $427,184,325,997
2024 $285,000,000 $401,144,998,374
2023 $264,000,000 $381,440,724,491
2022 $258,723,500 $407,596,043,068
2021 $261,245,500 $419,986,284,375
2020 $241,800,000 $337,974,655,408
2019 $232,900,000 $389,330,032,224
2018 $220,000,000 $405,260,723,893
2017 $213,700,000 $381,448,814,653
2016 $201,800,000 $323,585,509,674
2015 $183,700,000 $346,709,790,459
2014 $186,000,000 $381,198,869,776
2013 $186,400,000 $400,886,013,596
2012 $180,700,000 $434,400,545,086
2011 $172,300,000 $458,199,494,831
2010 $161,100,000 $417,363,822,802
2009 $151,200,000 $329,754,060,647
2008 $146,600,000 $316,131,258,616
2007 $150,500,000 $333,077,117,254
2006 $143,200,000 $303,858,675,364
2005 $138,000,000 $288,867,217,197
2004 $132,900,000 $255,806,908,595
2003 $131,128,500 $197,018,965,309
2002 $131,960,000 $129,087,556,612
2001 $122,406,100 $135,429,905,923
2000 $114,838,500 $151,752,757,215
1999 $113,352,100 $151,516,957,079
1998 $112,070,100 $152,982,984,557
1997 $109,884,700 $168,978,057,328
1996 $110,858,000 $163,234,925,381
1995 $120,230,000 $171,735,933,897
1994 $108,071,000 $153,512,712,382
1993 $99,461,000 $147,194,747,566
1992 $91,063,000 $146,956,150,987
1991 $82,507,000 $135,203,698,238
1990 $78,476,000 $126,048,140,142
1989 $72,798,000 $108,055,624,082
1988 $70,688,000 $103,976,831,871
1987 $62,983,000 $96,535,763,418
1986 $55,989,000 $73,354,771,399
1985 $43,879,000 $64,459,376,087
1984 $45,144,000 $84,870,163,366
1983 $41,749,000 $96,204,110,942
1982 $34,918,000 $85,904,057,409
1981 $31,020,000 $93,141,472,164
1980 $26,710,653 $89,411,864,402
1979 $25,545,346 $63,038,658,089
1978 $22,209,370 $51,607,412,902
1977 $20,210,069 $45,328,411,332
1976 $18,153,647 $41,150,460,288
1975 $16,691,301 $42,906,905,672
1974 $15,217,532 $41,389,186,095
1973 $11,607,366 $33,262,772,008
1972 $9,973,652 $24,515,919,217
1971 $9,116,810 $23,411,076,638
1970 $8,408,486 $21,218,391,513
1969 - $19,256,992,297
1968 - $17,124,793,150
1967 - $15,821,393,671
1966 - $14,211,394,315
1965 - $13,068,994,772
1964 - $11,955,995,218
1963 - $10,854,195,658
1962 - $9,813,996,074
1961 - $9,225,996,310
1960 - $8,748,596,501

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

GDP per capita in Marshall Islands vs South Africa by year

Marshall Islands
GDP per capita

GDP per capita, PPP
South Africa
GDP per capita

GDP per capita, PPP
1x
Year Current $
Marshall Islands South Africa
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,489 - $6,598 -
2024 $7,590 $8,195 $6,267 $15,456
2023 $6,799 $7,549 $6,034 $15,200
2022 $6,456 $7,431 $6,534 $14,749
2021 $6,315 $6,768 $6,829 $13,682
2020 $5,662 $6,137 $5,581 $12,671
2019 $5,292 $6,045 $6,534 $13,361
2018 $4,858 $5,232 $6,914 $13,347
2017 $4,593 $4,719 $6,618 $13,738
2016 $4,230 $4,366 $5,651 $13,519
2015 $3,764 $4,125 $6,112 $13,398
2014 $3,735 $3,931 $6,857 $13,359
2013 $3,678 $3,845 $7,332 $13,369
2012 $3,514 $3,590 $8,077 $12,987
2011 $3,319 $3,537 $8,646 $13,143
2010 $3,095 $3,473 $7,973 $12,637
2009 $2,907 $3,253 $6,375 $12,261
2008 $2,818 $3,118 $6,185 $12,525
2007 $2,892 $3,309 $6,592 $12,047
2006 $2,754 $3,110 $6,077 $11,250
2005 $2,659 $3,017 $5,837 $10,441
2004 $2,566 $2,880 $5,221 $9,714
2003 $2,539 $2,824 $4,062 $9,139
2002 $2,566 $2,825 $2,688 $8,792
2001 $2,394 $2,700 $2,847 $8,428
2000 $2,265 $2,490 $3,218 $8,095
1999 $2,258 $2,400 $3,242 $7,667
1998 $2,254 $2,422 $3,310 $7,463
1997 $2,231 $2,434 $3,700 $7,433
1996 $2,273 $2,583 $3,618 $7,208
1995 $2,491 $2,858 $3,856 $6,875
1994 $2,265 $2,617 $3,489 $6,611
1993 $2,112 $2,452 $3,400 $6,375
1992 $1,963 $2,293 $3,462 $6,275
1991 $1,811 $2,131 $3,243 $6,383
1990 $1,758 $2,102 $3,093 $6,382
1989 $1,670 - $2,727 -
1988 $1,670 - $2,702 -
1987 $1,543 - $2,586 -
1986 $1,425 - $2,027 -
1985 $1,162 - $1,839 -
1984 $1,245 - $2,504 -
1983 $1,199 - $2,938 -
1982 $1,046 - $2,717 -
1981 $969 - $3,050 -
1980 $868 - $3,029 -
1979 $859 - $2,202 -
1978 $771 - $1,852 -
1977 $724 - $1,671 -
1976 $672 - $1,559 -
1975 $638 - $1,670 -
1974 $602 - $1,656 -
1973 $472 - $1,369 -
1972 $416 - $1,038 -
1971 $390 - $1,020 -
1970 $373 - $952 -
1969 - - $891 -
1968 - - $817 -
1967 - - $779 -
1966 - - $722 -
1965 - - $685 -
1964 - - $646 -
1963 - - $605 -
1962 - - $563 -
1961 - - $546 -
1960 - - $532 -

Data sources: World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

The Marshall Islands' GDP per capita is $8,489, ranking 95/197, compared to $6,598 in South Africa, ranking 109/197. Adjusted for purchasing power (GDP per capita PPP), the Marshall Islands ranks 139th at $8,195, while South Africa ranks 112th at $15,456.

Economic indicators

Marshall Islands South Africa
Gross domestic product
$308M
2025
$427B
2025
GDP rank
194/197
2025
40/197
2025
GDP growth
2.28%
2024-2025
1.11%
2024-2025
GDP per capita
$8,489
2025
$6,598
2025
GDP per capita rank
95/197
2025
109/197
2025
GDP per capita, PPP
$8,195
2024
$15,456
2024
GDP per capita PPP rank
139/197
2024
112/197
2024
Government debt
$36.3M
2025
$336B
2025
Debt-to-GDP ratio
11.8%
2025
78.6%
2025
Government debt per person
$1,000
2025
$5,189
2025
Government debt per person rank
144/185
2025
84/185
2025
Average annual personal income after taxes
$5,308
2026
$4,738
2026
Market capitalization of domestic companies n/a
$1.4T
2025
Number of millionaires n/a
97,000
2026
Number of billionaires n/a
7
2026
Income share by richest 10%
27.5%
2019
42.1%
2022
Income share by poorest 10%
2.8%
2019
1.4%
2022
Government expenditure, % of GDP
65.3%
2025
34.2%
2025
Consumer prices inflation
5.5%
2024-2025
3.21%
2024-2025
Central bank interest rate n/a
7%
2026
Unemployment rate
9.82%
2021
32.3%
2024
Population
35039
65829368

Spending and national debt comparison by year

Marshall Islands
Spending

Debt
South Africa
Spending

Debt
1x
Year % of GDP
Marshall Islands South Africa
Government spending Government debt Government spending Government debt
2025 65.3% 11.8% 34.2% 78.6%
2024 70.9% 14.2% 33% 76%
2023 67.5% 18.2% 32.5% 73.2%
2022 65.8% 19.6% 31.9% 70.7%
2021 69.2% 19.9% 32.7% 68.8%
2020 67.8% 21.7% 34.6% 68.9%
2019 65.5% 25.1% 31.4% 56.1%
2018 60.5% 24.7% 30.2% 51.5%
2017 63.7% 26.5% 29.9% 48.6%
2016 56.8% 29.2% 29.9% 47.1%
2015 56.3% 33.9% 30.2% 45.2%
2014 49.2% 34.9% 29.3% 43.3%
2013 55% 33.4% 28.9% 40.4%
2012 53.2% 37.6% 28.6% 37.4%
2011 55.9% 35.9% 28.1% 34.7%
2010 59.2% 38.8% 28.3% 31.2%
2009 63.1% 41.2% 28.5% 27%
2008 64.3% 44.1% 26% 24%
2007 67.2% 42.2% 24.4% 24.3%
2006 61.2% 44.4% 24.7% 28%
2005 85.3% 45.8% 25.1% 29.6%
2004 54.5% 46.8% 22.7% 30.7%
2003 52.9% 43.7% 22.6% 31.5%
2002 55.2% 37.2% 22.2% 31.8%
2001 58.8% 32.7% 22.6% 38%
2000 56.5% 27.3% 22.6% 37.9%
1999 48.7% 26.1% 26.7% 45.9%
1998 50.5% 18.1% 27.1% 45.8%
1997 55% 8.73% 27.9% 45.8%
1996 - - 28.5% 44.3%
1995 - - 27.2% 47%
1994 - - 31.3% 46.4%
1993 - - 29.1% 39.8%
1992 - - 29.8% 34.8%
1991 - - 27.8% 34.7%
1990 - - 28.7% 31.8%
1989 - - 29.6% 33.3%
1988 - - 23.9% 30.6%
1987 - - 28% 33.5%
1986 - - 27.8% 32.5%
1985 - - 26.8% 26.3%
1984 - - 25.2% 23.2%
1983 - - 25.1% 28.7%
1982 - - 23.8% 31.3%
1981 - - 23.3% 27.4%
1980 - - 21.8% 33.3%
1979 - - 26.5% 41.9%
1978 - - 26.8% 44.7%
1977 - - 27.3% 45.3%
1976 - - 23% 35%
1975 - - 21.2% 32.8%
1974 - - 19.1% 33.7%
1973 - - 21% 38.2%
1972 - - 22.9% 41.1%
1971 - - 19.9% 41.1%
1970 - - 20% 43.3%
1969 - - 18.8% 44.4%
1968 - - 19.4% 42.7%
1967 - - 18.8% 41.1%
1966 - - 18.3% 41.4%
1965 - - 18.2% 42.7%
1964 - - 11.3% 30%
1963 - - 15.9% 43.4%
1962 - - 15.9% 45.7%
1961 - - 15.7% 52.8%
1960 - - 16.7% 52.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1999, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

In 2025, the Marshall Islands' government spending was $201M, accounting for 65.3% of its GDP, while South Africa spent $146B, or 34.2% of GDP.

Debt-to-GDP ratio is 11.8% in the Marshall Islands and 78.6% in South Africa, ranking 180/185 and 46/185, respectively.

Government deficit by year

Deficit/surplus
Marshall Islands

South Africa
1x
Year Deficit/surplus, % of GDP
Marshall Islands South Africa
2025 1.35% -5.78%
2024 2.62% -5.67%
2023 1.01% -5.6%
2022 0.51% -4.25%
2021 0.18% -5.54%
2020 2.54% -9.62%
2019 -1.8% -5.07%
2018 2.55% -3.73%
2017 4.38% -4.02%
2016 3.88% -3.72%
2015 2.81% -4.37%
2014 3.2% -3.93%
2013 -0.23% -3.9%
2012 -0.76% -4.04%
2011 2.13% -3.7%
2010 3.51% -4.51%
2009 1.51% -4.67%
2008 3.68% -0.49%
2007 0.27% 1.22%
2006 0.24% 0.81%
2005 -22.3% -0.1%
2004 -1.6% -1.04%
2003 10.5% -1.59%
2002 5.12% -0.96%
2001 7.83% -1.02%
2000 7.84% -1.38%
1999 9.01% -2.21%
1998 13.5% -2.56%
1997 7.91% -4.08%
1996 - -4.53%
1995 - -4.38%
1994 - -8.09%
1993 - -8.54%
1992 - -7.09%
1991 - -4.85%
1990 - -3.82%
1989 - -8.3%
1988 - -3.29%
1987 - -6.36%
1986 - -5.69%
1985 - -4.86%
1984 - -5.24%
1983 - -5.3%
1982 - -3.88%
1981 - -3.72%
1980 - -1.91%
1979 - -4.65%
1978 - -5.42%
1977 - -5.52%
1976 - -4.19%
1975 - -2.62%
1974 - -1.5%
1973 - -4.54%
1972 - -5.39%
1971 - -1.96%
1970 - -3.19%
1969 - -3.94%
1968 - -3.38%
1967 - -3.8%
1966 - -3.04%
1965 - -3.15%
1964 - -1.19%
1963 - -2.26%
1962 - -1.4%
1961 - -3.25%
1960 - -2.36%
1959 - -4.4%
1958 - -3.5%
1957 - -2.8%
1956 - -2.12%
1955 - -2.9%
1954 - -2.53%
1953 - -3.72%
1952 - -4.14%
1951 - -0.4%
1950 - -2.33%
1949 - -6.87%
1948 - -6.03%
1947 - -1.82%
1946 - -4.03%
1945 - -7.41%
1944 - -8.94%
1943 - -8.49%
1942 - -9.08%
1941 - -7.3%
1940 - -10.9%
1939 - -2.96%
1938 - -3.91%
1937 - -2.16%
1936 - -2.58%
1935 - -3.2%
1934 - -3.29%
1933 - -3.31%
1932 - -4.72%
1931 - -5.31%
1930 - -5.19%
1929 - -4.41%
1928 - -3.29%
1927 - -3.79%
1926 - -4.76%
1925 - -4.92%
1924 - -4.72%
1923 - -5.53%
1922 - -4.51%
1921 - -5.38%
1920 - -5.52%
1919 - -2.6%
1918 - -3.7%
1917 - -3.52%
1916 - -2.57%
1915 - -10.7%
1914 - -11.6%
1913 - -4.15%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1913–1999, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

In 2025, the Marshall Islands' government surplus, the difference between spending and revenue, was $4.17M, equivalent to 1.35% of GDP. This compares to South Africa's deficit of $24.7B, or 5.78% of GDP.

Over the past 29 years, the Marshall Islands recorded a fiscal deficit in 5 of those years, while South Africa ran a deficit in 27 years. On average, the Marshall Islands posted an annual surplus equal to 2.46% of GDP, compared to deficit of 3.29% of GDP for South Africa.

Inflation comparison by year

Inflation
Marshall Islands

South Africa
1x
Year Consumer prices inflation
Marshall Islands South Africa
2025 5.5% 3.21%
2024 5.2% 4.36%
2023 7.4% 6.08%
2022 2.8% 7.04%
2021 2.2% 4.62%
2020 -0.7% 3.23%
2019 -0.1% 4.1%
2018 0.8% 4.51%
2017 0.1% 5.19%
2016 -1.5% 6.6%
2015 -2.2% 4.52%
2014 1.1% 6.13%
2013 1.9% 5.78%
2012 4.3% 5.74%
2011 5.4% 5%
2010 1.8% 4.07%
2009 0.5% 7.24%
2008 14.7% 9.91%
2007 2.6% 6.18%
2006 5.3% 3.24%
2005 3.5% 2.06%
2004 2% -0.69%
2003 - 5.68%
2002 - 9.49%
2001 - 5.7%
2000 - 5.34%
1999 - 5.18%
1998 - 6.88%
1997 - 8.6%

Data sources: World Bank | Economy & Growth (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2004–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

Over the past 22 years, the Marshall Islands has recorded an average annual inflation rate of 2.85%, compared with 4.91% in South Africa. In 2025, inflation was 5.5% in the Marshall Islands and 3.21% in South Africa.

Top exports between countries

Marshall Islands
Export category Export value
Metals $64K
Processed food, beverages & tobacco $19K
Raw materials & minerals $13K
Machinery & equipment $3K
South Africa
Export category Export value
Raw materials & minerals $21M
Machinery & equipment $4.72M
Chemicals & pharma $63K
Metals $41K
Textiles & consumer goods $18K
Processed food, beverages & tobacco $15K
Miscellaneous $3K

Balance of trade

Marshall Islands South Africa
Current account balance
$62.3M
2024
-$1.81B
2025
Current account balance ranking
67/190
2024
135/190
2025
Current account balance, % of GDP
+21.9%
2024
-0.42%
2025
Goods imports
$173M
2024
$104B
2025
Goods exports
$101M
2024
$116B
2025
Service imports
$64.2M
2024
$21.8B
2025
Service exports
$21.1M
2024
$18.1B
2025
Imports of goods and services, % of GDP
79.9%
2025
29.5%
2025
Exports of goods and services, % of GDP
36%
2025
31.4%
2025

Economic freedom indices

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

Marshall Islands South Africa
Economic freedom 58 58.6
Economic freedom ranking 113/197 110/197
Property rights n/a 48.8
Government integrity n/a 46.7
Judicial effectiveness n/a 64.6
Tax burden n/a 65.4
Government spending n/a 68.4
Fiscal health n/a 45.3
Business freedom n/a 67.9
Labor freedom n/a 70.8
Monetary freedom n/a 75.8
Trade freedom n/a 68.8
Investment freedom n/a 40
Financial freedom n/a 40

Other economic metrics

Marshall Islands South Africa
Services, % of GDP
68.2%
2024
63.1%
2025
Industry, % of GDP
13.4%
2024
24.1%
2025
Agriculture, forestry, and fishing, % of GDP
19.9%
2024
2.83%
2025
GNI, Atlas method
$352M
2025
$406B
2025
GNI per capita, PPP
$10,590
2025
$15,600
2025
Total reserves including gold n/a
$76B
2025
Total reserves ranking n/a
35/177
2025
Net foreign direct investment
-$13.4M
2024
-$1.85B
2025
Net inflows of foreign direct investment
$13.4M
2024
$2.33B
2024
Net outflows of foreign direct investment
$0
2024
-$1.26B
2024
Servicing debt to the IMF, % of GNI n/a
5.74%
2024
Poverty at national poverty lines
7.2%
2019
37.9%
2022
Gross capital formation, % of GDP
21.1%
2024
13.9%
2025

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2025, retrieved 2026-07-08); U.S. Census Bureau (1985–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/south-africa | CC BY

Compare countries by 7 more topics

Help us show the world through your eyes

Share a photo of your city and help others discover what it looks like to live there. Your contribution makes our data come alive.

Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1913–1999, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08)
  4. U.S. Census Bureau (1985–2025, retrieved 2026-07-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  6. TradeMap (2023–2025, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)

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.