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Economy of Marshall Islands vs United States compared: GDP & Debt

Updated on by Georank

The Marshall Islands has a GDP of $308M compared to $30.8T for the United States, ranking 194/197 and 1/197 by economy size, respectively.

The Marshall Islands has $36.3M in government debt (11.8% of GDP), compared to $38.1T (123.9% of GDP) in the United States.

Marshall Islands vs United States GDP by year

Marshall Islands
United States
1x
Year GDP, current $
Marshall Islands United States
2025 $308,000,000 $30,769,700,000,000
2024 $285,000,000 $29,298,013,000,000
2023 $264,000,000 $27,811,517,000,000
2022 $258,723,500 $26,054,614,000,000
2021 $261,245,500 $23,725,645,000,000
2020 $241,800,000 $21,375,281,000,000
2019 $232,900,000 $21,539,982,000,000
2018 $220,000,000 $20,656,516,000,000
2017 $213,700,000 $19,612,102,000,000
2016 $201,800,000 $18,804,913,000,000
2015 $183,700,000 $18,295,019,000,000
2014 $186,000,000 $17,608,138,000,000
2013 $186,400,000 $16,880,683,000,000
2012 $180,700,000 $16,253,970,000,000
2011 $172,300,000 $15,599,732,000,000
2010 $161,100,000 $15,048,971,000,000
2009 $151,200,000 $14,478,067,000,000
2008 $146,600,000 $14,769,862,000,000
2007 $150,500,000 $14,474,228,000,000
2006 $143,200,000 $13,815,583,000,000
2005 $138,000,000 $13,039,197,000,000
2004 $132,900,000 $12,217,196,000,000
2003 $131,128,500 $11,456,450,000,000
2002 $131,960,000 $10,929,108,000,000
2001 $122,406,100 $10,581,929,000,000
2000 $114,838,500 $10,250,952,000,000
1999 $113,352,100 $9,631,172,000,000
1998 $112,070,100 $9,062,817,000,000
1997 $109,884,700 $8,577,552,000,000
1996 $110,858,000 $8,073,122,000,000
1995 $120,230,000 $7,639,749,000,000
1994 $108,071,000 $7,287,236,000,000
1993 $99,461,000 $6,858,559,000,000
1992 $91,063,000 $6,520,327,000,000
1991 $82,507,000 $6,158,129,000,000
1990 $78,476,000 $5,963,144,000,000
1989 $72,798,000 $5,641,580,000,000
1988 $70,688,000 $5,236,438,000,000
1987 $62,983,000 $4,855,215,000,000
1986 $55,989,000 $4,579,631,000,000
1985 $43,879,000 $4,338,979,000,000
1984 $45,144,000 $4,037,613,000,000
1983 $41,749,000 $3,634,038,000,000
1982 $34,918,000 $3,343,789,000,000
1981 $31,020,000 $3,207,041,000,000
1980 $26,710,653 $2,857,307,000,000
1979 $25,545,346 $2,627,333,000,000
1978 $22,209,370 $2,351,599,000,000
1977 $20,210,069 $2,081,826,000,000
1976 $18,153,647 $1,873,412,000,000
1975 $16,691,301 $1,684,904,000,000
1974 $15,217,532 $1,545,243,000,000
1973 $11,607,366 $1,425,376,000,000
1972 $9,973,652 $1,279,110,000,000
1971 $9,116,810 $1,164,850,000,000
1970 $8,408,486 $1,073,303,000,000
1969 - $1,017,438,172,414
1968 - $940,225,000,000
1967 - $859,620,034,483
1966 - $813,032,758,621
1965 - $741,904,862,069
1964 - $684,144,620,690
1963 - $637,058,551,724
1962 - $603,639,413,793
1961 - $561,940,310,345
1960 - $541,988,586,207

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

GeoRank.org/economy/marshall-islands/united-states | CC BY

GDP per capita in Marshall Islands vs United States by year

Marshall Islands
GDP per capita

GDP per capita, PPP
United States
GDP per capita

GDP per capita, PPP
1x
Year Current $
Marshall Islands United States
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2025 $8,489 - $90,027 -
2024 $7,590 $8,195 $86,143 $85,810
2023 $6,799 $7,549 $83,041 $82,305
2022 $6,456 $7,431 $78,178 $77,861
2021 $6,315 $6,768 $71,486 $71,307
2020 $5,662 $6,137 $64,475 $64,402
2019 $5,292 $6,045 $65,605 $65,228
2018 $4,858 $5,232 $63,201 $62,876
2017 $4,593 $4,719 $60,322 $60,048
2016 $4,230 $4,366 $58,207 $57,977
2015 $3,764 $4,125 $57,040 $56,849
2014 $3,735 $3,931 $55,304 $55,153
2013 $3,678 $3,845 $53,410 $53,297
2012 $3,514 $3,590 $51,784 $51,708
2011 $3,319 $3,537 $50,066 $50,025
2010 $3,095 $3,473 $48,651 $48,643
2009 $2,907 $3,253 $47,195 $47,195
2008 $2,818 $3,118 $48,570 $48,570
2007 $2,892 $3,309 $48,050 $48,050
2006 $2,754 $3,110 $46,302 $46,302
2005 $2,659 $3,017 $44,123 $44,123
2004 $2,566 $2,880 $41,725 $41,725
2003 $2,539 $2,824 $39,490 $39,490
2002 $2,566 $2,825 $37,998 $37,998
2001 $2,394 $2,700 $37,134 $37,134
2000 $2,265 $2,490 $36,330 $36,330
1999 $2,258 $2,400 $34,484 $34,515
1998 $2,254 $2,422 $32,823 $32,854
1997 $2,231 $2,434 $31,430 $31,459
1996 $2,273 $2,583 $29,937 $29,968
1995 $2,491 $2,858 $28,661 $28,691
1994 $2,265 $2,617 $27,662 $27,695
1993 $2,112 $2,452 $26,353 $26,387
1992 $1,963 $2,293 $25,381 $25,419
1991 $1,811 $2,131 $24,293 $24,342
1990 $1,758 $2,102 $23,840 $23,889
1989 $1,670 - $22,857 -
1988 $1,670 - $21,417 -
1987 $1,543 - $20,039 -
1986 $1,425 - $19,071 -
1985 $1,162 - $18,237 -
1984 $1,245 - $17,121 -
1983 $1,199 - $15,544 -
1982 $1,046 - $14,434 -
1981 $969 - $13,976 -
1980 $868 - $12,613 -
1979 $859 - $11,674 -
1978 $771 - $10,565 -
1977 $724 - $9,453 -
1976 $672 - $8,592 -
1975 $638 - $7,801 -
1974 $602 - $7,226 -
1973 $472 - $6,726 -
1972 $416 - $6,094 -
1971 $390 - $5,609 -
1970 $373 - $5,234 -
1969 - - $5,020 -
1968 - - $4,685 -
1967 - - $4,326 -
1966 - - $4,136 -
1965 - - $3,818 -
1964 - - $3,565 -
1963 - - $3,366 -
1962 - - $3,236 -
1961 - - $3,059 -
1960 - - $3,000 -

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

GeoRank.org/economy/marshall-islands/united-states | CC BY

The Marshall Islands' GDP per capita is $8,489, ranking 95/197, compared to $90,027 in the United States, ranking 10/197. Adjusted for purchasing power (GDP per capita PPP), the Marshall Islands ranks 139th at $8,195, while the United States ranks 12th at $85,810.

Economic indicators

Marshall Islands United States
Gross domestic product
$308M
2025
$30.8T
2025
GDP rank
194/197
2025
1/197
2025
GDP growth
2.28%
2024-2025
2.16%
2024-2025
GDP per capita
$8,489
2025
$90,027
2025
GDP per capita rank
95/197
2025
10/197
2025
GDP per capita, PPP
$8,195
2024
$85,810
2024
GDP per capita PPP rank
139/197
2024
12/197
2024
Government debt
$36.3M
2025
$38.1T
2025
Debt-to-GDP ratio
11.8%
2025
123.9%
2025
Government debt per person
$1,000
2025
$111,531
2025
Government debt per person rank
144/185
2025
2/185
2025
Average annual personal income after taxes
$5,308
2026
$54,600
2026
Market capitalization of domestic companies n/a
$68.9T
2025
Number of millionaires n/a
23,627,000
2026
Number of billionaires n/a
989
2026
Income share by richest 10%
27.5%
2019
30.7%
2024
Income share by poorest 10%
2.8%
2019
1.7%
2024
Government expenditure, % of GDP
65.3%
2025
37.7%
2025
Consumer prices inflation
5.5%
2024-2025
2.95%
2023-2024
Central bank interest rate n/a
3.75%
2025
Unemployment rate
9.82%
2021
4.28%
2025
Population
35039
344434632

Spending and national debt comparison by year

Marshall Islands
Spending

Debt
United States
Spending

Debt
1x
Year % of GDP
Marshall Islands United States
Government spending Government debt Government spending Government debt
2025 65.3% 11.8% 37.7% 123.9%
2024 70.9% 14.2% 37.7% 122.3%
2023 67.5% 18.2% 37.5% 120%
2022 65.8% 19.6% 36.8% 119.1%
2021 69.2% 19.9% 43.2% 125%
2020 67.8% 21.7% 44.7% 132.6%
2019 65.5% 25.1% 35.8% 108.8%
2018 60.5% 24.7% 35.3% 107.7%
2017 63.7% 26.5% 35.2% 106.4%
2016 56.8% 29.2% 35.3% 107.4%
2015 56.3% 33.9% 35% 105.4%
2014 49.2% 34.9% 35.3% 104.9%
2013 55% 33.4% 35.8% 105%
2012 53.2% 37.6% 37.2% 103.7%
2011 55.9% 35.9% 38.8% 100%
2010 59.2% 38.8% 39.8% 95.7%
2009 63.1% 41.2% 41.4% 87.1%
2008 64.3% 44.1% 37.1% 73.8%
2007 67.2% 42.2% 34.6% 64.9%
2006 61.2% 44.4% 33.7% 64.5%
2005 85.3% 45.8% 33.9% 65.8%
2004 54.5% 46.8% 33.7% 66.4%
2003 52.9% 43.7% 34% 59%
2002 55.2% 37.2% 33.7% 55.9%
2001 58.8% 32.7% 32.8% 53.5%
2000 56.5% 27.3% 31.7% 54.5%
1999 48.7% 26.1% 32.2% 60.5%
1998 50.5% 18.1% 32.8% 64.2%
1997 55% 8.73% 33.7% 67.4%
1996 - - 34.7% 69.9%
1995 - - 35.5% 70.7%
1994 - - 35.5% 71.1%
1993 - - 36.4% 71.9%
1992 - - 36.7% 70.3%
1991 - - 35.7% 67.9%
1990 - - 34.5% 63.1%
1989 - - 33.7% 61.6%
1988 - - 33.7% 61.3%
1987 - - 34.3% 60.6%
1986 - - 34.8% 58.9%
1985 - - 34.5% 55.4%
1984 - - 34.3% 50.6%
1983 - - 35.7% 48.9%
1982 - - 35.8% 45.9%
1981 - - 33.9% 41.1%
1980 - - 33.7% 41.9%
1979 - - 32% 41.2%
1978 - - 32.6% 42.5%
1977 - - 33.4% 43.6%
1976 - - 34.2% 44.8%
1975 - - 35.2% 44.6%
1974 - - 32.9% 41.4%
1973 - - 31.9% 42.6%
1972 - - 32.8% 45.4%
1971 - - 32.3% 47%
1970 - - 31.5% 46.4%
1969 - - 29.3% 45.9%
1968 - - 29.1% 48.5%
1967 - - 28.3% 50.4%
1966 - - 26.3% 50.6%
1965 - - 25.4% 53.7%
1964 - - 25.6% 56.7%
1963 - - 26% 58.8%
1962 - - 26% 60.2%
1961 - - 25.9% 62.3%
1960 - - 24.9% 61.7%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08); International Monetary Fund (IMF) | Public Finances in Modern History (1960–2000, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/united-states | CC BY

In 2025, the Marshall Islands' government spending was $201M, accounting for 65.3% of its GDP, while the United States spent $11.6T, or 37.7% of GDP.

Debt-to-GDP ratio is 11.8% in the Marshall Islands and 123.9% in the United States, ranking 180/185 and 12/185, respectively.

Government deficit by year

Deficit/surplus
Marshall Islands

United States
1x
Year Deficit/surplus, % of GDP
Marshall Islands United States
2025 1.35% -6.82%
2024 2.62% -7.86%
2023 1.01% -7.89%
2022 0.51% -3.72%
2021 0.18% -11.5%
2020 2.54% -14.1%
2019 -1.8% -5.81%
2018 2.55% -5.33%
2017 4.38% -4.79%
2016 3.88% -4.36%
2015 2.81% -3.53%
2014 3.2% -4.03%
2013 -0.23% -4.56%
2012 -0.76% -8.11%
2011 2.13% -9.72%
2010 3.51% -11%
2009 1.51% -13.2%
2008 3.68% -6.61%
2007 0.27% -2.91%
2006 0.24% -2.04%
2005 -22.3% -3.07%
2004 -1.6% -4.24%
2003 10.5% -4.77%
2002 5.12% -3.82%
2001 7.83% -0.54%
2000 7.84% 3.62%
1999 9.01% 2.71%
1998 13.5% 2.18%
1997 7.91% 0.88%
1996 - -0.46%
1995 - -1.7%
1994 - -2.05%
1993 - -3.35%
1992 - -3.98%
1991 - -2.72%
1990 - -1.64%
1989 - -0.8%
1988 - -1.06%
1987 - -1.53%
1986 - -2.81%
1985 - -2.63%
1984 - -2.97%
1983 - -4.26%
1982 - -3.78%
1981 - -1.58%
1980 - -2.17%
1979 - -0.79%
1978 - -1.7%
1977 - -2.57%
1976 - -3.63%
1975 - -5.4%
1974 - -1.27%
1973 - -0.86%
1972 - -1.86%
1971 - -2.63%
1970 - -1.21%
1969 - 2.11%
1968 - 1.23%
1967 - 0.47%
1966 - 2.07%
1965 - 2.38%
1964 - 2.18%
1963 - 2.87%
1962 - 2.32%
1961 - 2.28%
1960 - 3.2%
1959 - -9.06%
1958 - -8.68%
1957 - -6.72%
1956 - -6.02%
1955 - -7.4%
1954 - -5.55%
1953 - -5.76%
1952 - -5.41%
1951 - -6.93%
1950 - -8.22%
1949 - -7.94%
1948 - -4.16%
1947 - -3.99%
1946 - -6.45%
1945 - -14.1%
1944 - -13.4%
1943 - -19.3%
1942 - -16.3%
1941 - -10.2%
1940 - -9.73%
1939 - -11.9%
1938 - -10.4%
1937 - -9.22%
1936 - -12.1%
1935 - -13.3%
1934 - -14.9%
1933 - -14.3%
1932 - -12.7%
1931 - -9.76%
1930 - -5.46%
1929 - -4.58%

Data sources: International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08); International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/united-states | 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 the United States' deficit of $2.1T, or 6.82% of GDP.

Over the past 29 years, the Marshall Islands recorded a fiscal deficit in 5 of those years, while the United States ran a deficit in 25 years. On average, the Marshall Islands posted an annual surplus equal to 2.46% of GDP, compared to deficit of 5% of GDP for the United States.

Inflation comparison by year

Inflation
Marshall Islands

United States
1x
Year Consumer prices inflation
Marshall Islands United States
2025 5.5% -
2024 5.2% 2.95%
2023 7.4% 4.12%
2022 2.8% 8%
2021 2.2% 4.7%
2020 -0.7% 1.23%
2019 -0.1% 1.81%
2018 0.8% 2.44%
2017 0.1% 2.13%
2016 -1.5% 1.26%
2015 -2.2% 0.12%
2014 1.1% 1.62%
2013 1.9% 1.46%
2012 4.3% 2.07%
2011 5.4% 3.16%
2010 1.8% 1.64%
2009 0.5% -0.36%
2008 14.7% 3.84%
2007 2.6% 2.85%
2006 5.3% 3.23%
2005 3.5% 3.39%
2004 2% 2.68%
2003 - 2.27%
2002 - 1.59%
2001 - 2.83%
2000 - 3.38%
1999 - 2.19%
1998 - 1.55%
1997 - 2.34%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-07-08); International Monetary Fund (IMF) | World Economic Outlook (2004–2025, retrieved 2026-07-08).

GeoRank.org/economy/marshall-islands/united-states | CC BY

Over the past 21 years, the Marshall Islands has recorded an average annual inflation rate of 2.72%, compared with 2.59% in the United States. In 2024, inflation was 5.5% in the Marshall Islands and 2.95% in the United States.

Top exports between countries

Marshall Islands
Export category Export value
Animal & marine products $23.5M
Miscellaneous $2.49M
Machinery & equipment $665K
Textiles & consumer goods $648K
Metals $269K
Wood & paper products $152K
Chemicals & pharma $112K
Raw materials & minerals $56K
Precious metals & jewellery $23K
United States
Export category Export value
Machinery & equipment $190M
Miscellaneous $26.4M
Textiles & consumer goods $11.5M
Processed food, beverages & tobacco $9.29M
Metals $8.48M
Animal & marine products $8.39M
Chemicals & pharma $4.34M
Raw materials & minerals $1.91M
Wood & paper products $1.74M
Raw agricultural goods $393K

Balance of trade

Marshall Islands United States
Current account balance
$62.3M
2024
-$1.12T
2025
Current account balance ranking
67/190
2024
190/190
2025
Current account balance, % of GDP
+21.9%
2024
-3.63%
2025
Goods imports
$173M
2024
$3.44T
2025
Goods exports
$101M
2024
$2.2T
2025
Service imports
$64.2M
2024
$903B
2025
Service exports
$21.1M
2024
$1.23T
2025
Imports of goods and services, % of GDP
79.9%
2025
14%
2024
Exports of goods and services, % of GDP
36%
2025
11%
2024

Economic freedom indices

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

Marshall Islands United States
Economic freedom 58 72.8
Economic freedom ranking 113/197 27/197
Property rights n/a 91.6
Government integrity n/a 77.1
Judicial effectiveness n/a 76.4
Tax burden n/a 75.3
Government spending n/a 57.9
Fiscal health n/a 18.5
Business freedom n/a 88.6
Labor freedom n/a 76.3
Monetary freedom n/a 84.2
Trade freedom n/a 67.6
Investment freedom n/a 80
Financial freedom n/a 80

Other economic metrics

Marshall Islands United States
Services, % of GDP
68.2%
2024
79.7%
2024
Industry, % of GDP
13.4%
2024
17.3%
2024
Agriculture, forestry, and fishing, % of GDP
19.9%
2024
0.85%
2024
GNI, Atlas method
$352M
2025
$30.4T
2025
GNI per capita, PPP
$10,590
2025
$89,490
2025
Total reserves including gold n/a
$1.39T
2025
Total reserves ranking n/a
2/177
2025
Net foreign direct investment
-$13.4M
2024
$21.7B
2025
Net inflows of foreign direct investment
$13.4M
2024
$297B
2024
Net outflows of foreign direct investment
$0
2024
$322B
2024
Poverty at national poverty lines
7.2%
2019
15.1%
2020
Gross capital formation, % of GDP
21.1%
2024
21.5%
2024

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/united-states | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2025, retrieved 2026-07-08)
  2. International Monetary Fund (IMF) | Public Finances in Modern History (1929–2000, retrieved 2026-07-08)
  3. International Monetary Fund (IMF) | Fiscal Monitor (1997–2025, retrieved 2026-07-08)
  4. U.S. Census Bureau (1960–2026, retrieved 2026-07-08)
  5. TradeMap (2025, retrieved 2026-07-08)
  6. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-07-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-07-08)
  8. LivingCost (2026, retrieved 2026-07-08)
  9. Central Intelligence Agency (CIA) (2020, 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.

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.