Palau has a GDP of $282M compared to $1.16B for Saint Vincent, ranking 193/197 and 186/197 by economy size, respectively.
The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.
| Year | GDP | |||
|---|---|---|---|---|
Palau
|
Saint Vincent
|
|||
| Current $ | Constant $ | Current $ | Constant $ | |
| 1960 | - | - | $13,066,634 | $159,183,504 |
| 1961 | - | - | $13,999,965 | $166,390,193 |
| 1962 | - | - | $14,524,964 | $172,537,082 |
| 1963 | - | - | $13,708,299 | $161,727,050 |
| 1964 | - | - | $14,758,296 | $167,661,989 |
| 1965 | - | - | $15,108,296 | $169,145,688 |
| 1966 | - | - | $16,099,960 | $169,145,688 |
| 1967 | - | - | $15,835,106 | $153,036,568 |
| 1968 | - | - | $15,350,000 | $162,998,799 |
| 1969 | - | - | $16,650,000 | $167,661,942 |
| 1970 | $11,563,041 | $145,352,813 | $18,450,000 | $185,678,709 |
| 1971 | $12,706,874 | $145,536,452 | $20,051,922 | $191,189,747 |
| 1972 | $13,956,474 | $146,033,169 | $27,585,805 | $240,576,905 |
| 1973 | $15,331,889 | $146,328,192 | $30,165,081 | $213,869,657 |
| 1974 | $16,848,759 | $146,482,619 | $32,923,703 | $195,005,088 |
| 1975 | $18,521,112 | $146,519,630 | $33,237,226 | $180,167,718 |
| 1976 | $20,364,420 | $146,458,790 | $32,792,845 | $198,863,398 |
| 1977 | $22,308,104 | $148,553,303 | $49,353,162 | $225,171,854 |
| 1978 | $24,530,015 | $147,827,479 | $60,844,771 | $247,187,974 |
| 1979 | $27,004,251 | $147,274,387 | $71,096,360 | $255,548,407 |
| 1980 | $29,728,054 | $146,723,368 | $82,340,340 | $261,790,740 |
| 1981 | $32,726,594 | $146,174,407 | $102,086,539 | $273,869,514 |
| 1982 | $36,027,583 | $145,627,496 | $113,759,203 | $286,130,239 |
| 1983 | $39,661,530 | $148,441,032 | $122,255,350 | $292,335,248 |
| 1984 | $44,814,259 | $155,301,972 | $135,024,988 | $311,589,438 |
| 1985 | $51,030,637 | $163,744,973 | $145,641,705 | $330,843,628 |
| 1986 | $58,109,314 | $172,646,979 | $160,846,657 | $349,370,013 |
| 1987 | $66,169,905 | $182,032,942 | $175,580,647 | $350,900,271 |
| 1988 | $75,348,615 | $191,929,175 | $200,726,713 | $400,288,412 |
| 1989 | $85,800,543 | $202,363,417 | $214,745,002 | $405,914,910 |
| 1990 | $97,702,303 | $213,364,917 | $240,366,667 | $422,757,077 |
| 1991 | $106,555,300 | $223,830,946 | $254,829,630 | $427,557,802 |
| 1992 | $104,771,300 | $209,505,677 | $277,955,556 | $454,827,185 |
| 1993 | $96,455,700 | $183,736,397 | $286,307,407 | $474,160,664 |
| 1994 | $106,138,500 | $197,149,210 | $289,437,037 | $468,244,924 |
| 1995 | $121,018,500 | $218,638,452 | $316,007,407 | $504,611,870 |
| 1996 | $137,494,600 | $241,376,946 | $331,488,889 | $511,110,827 |
| 1997 | $143,860,800 | $246,928,594 | $347,770,370 | $529,026,033 |
| 1998 | $149,079,600 | $251,867,130 | $373,618,519 | $550,664,228 |
| 1999 | $144,206,500 | $238,266,284 | $390,718,519 | $565,588,940 |
| 2000 | $149,535,800 | $232,062,062 | $427,946,037 | $574,859,123 |
| 2001 | $159,453,500 | $247,147,106 | $462,072,333 | $584,908,989 |
| 2002 | $162,665,500 | $259,544,370 | $487,763,852 | $616,155,570 |
| 2003 | $154,559,900 | $251,178,536 | $509,090,889 | $657,384,614 |
| 2004 | $166,391,600 | $261,072,519 | $549,900,185 | $684,434,011 |
| 2005 | $191,048,400 | $269,985,444 | $579,948,926 | $701,466,543 |
| 2006 | $193,679,700 | $269,651,419 | $643,501,148 | $750,547,640 |
| 2007 | $200,903,600 | $274,381,188 | $713,596,667 | $775,488,103 |
| 2008 | $201,167,300 | $259,306,750 | $732,663,259 | $778,626,044 |
| 2009 | $189,998,000 | $240,479,586 | $714,300,259 | $767,895,070 |
| 2010 | $188,174,300 | $238,325,139 | $720,447,889 | $733,566,567 |
| 2011 | $198,873,900 | $250,523,288 | $713,796,370 | $729,119,124 |
| 2012 | $215,762,400 | $253,663,378 | $730,032,593 | $737,643,344 |
| 2013 | $225,345,700 | $245,961,582 | $764,781,259 | $755,807,695 |
| 2014 | $243,156,500 | $257,693,948 | $770,900,000 | $765,257,214 |
| 2015 | $278,824,800 | $278,824,800 | $786,555,556 | $786,555,556 |
| 2016 | $298,323,500 | $277,598,001 | $814,303,704 | $819,165,612 |
| 2017 | $285,600,000 | $268,548,255 | $844,040,741 | $831,033,934 |
| 2018 | $288,546,300 | $268,843,680 | $884,329,630 | $857,424,343 |
| 2019 | $281,941,600 | $269,381,408 | $910,481,481 | $863,155,611 |
| 2020 | $258,990,800 | $253,220,049 | $864,566,667 | $826,308,151 |
| 2021 | $235,752,900 | $218,291,145 | $888,677,778 | $843,606,096 |
| 2022 | $255,591,100 | $215,413,136 | $989,188,889 | $869,849,273 |
| 2023 | $281,849,100 | $219,456,509 | $1,072,237,037 | $916,180,618 |
| 2024 | - | - | $1,157,207,407 | $953,394,362 |
Economic indicators
|
Palau
|
Saint Vincent
|
|
|---|---|---|
| Gross domestic product |
$282M
2023 |
$1.16B
2024 |
| GDP rank |
193/197
2023 |
186/197
2024 |
| GDP growth |
10.3%
2022-2023 |
7.92%
2023-2024 |
| GDP per capita |
$15,899
2023 |
$11,501
2024 |
| GDP per capita rank |
67/197
2023 |
82/197
2024 |
| GDP per capita, PPP |
$17,532
2023 |
$21,272
2024 |
| Government debt | n/a |
$1.07B
2024 |
| Debt-to-GDP ratio | n/a |
93.5%
2025 |
| Government debt per person | n/a |
$10,661
2024 |
| Government debt per person rank | n/a |
56/185
2024 |
| Average annual personal income after taxes |
$8,654
2025 |
$14,935
2025 |
| Government expenditure, % of GDP |
53%
2025 |
36.4%
2025 |
| Consumer prices inflation |
1.8%
2024-2025 |
3.63%
2023-2024 |
| Unemployment rate |
0.77%
2020 |
18.8%
2008 |
| Population |
17663
|
99920
|
GDP per capita in Palau vs Saint Vincent
Palau's GDP per capita is $15,899, ranking 67/197, compared to $11,501 in Saint Vincent, ranking 82/197. Adjusted for purchasing power (GDP per capita PPP), Palau ranks 105th at $17,532, while Saint Vincent ranks 92nd at $21,272.
| Year | Current $ | |||
|---|---|---|---|---|
|
Palau
|
Saint Vincent
|
|||
| GDP per capita | GDP per capita, PPP | GDP per capita | GDP per capita, PPP | |
| 1960 | - | - | $154.8 | - |
| 1961 | - | - | $163 | - |
| 1962 | - | - | $166.5 | - |
| 1963 | - | - | $154.9 | - |
| 1964 | - | - | $164.4 | - |
| 1965 | - | - | $166.2 | - |
| 1966 | - | - | $174.9 | - |
| 1967 | - | - | $170 | - |
| 1968 | - | - | $163.1 | - |
| 1969 | - | - | $175.2 | - |
| 1970 | $1,017 | - | $192.3 | - |
| 1971 | $1,081 | - | $207 | - |
| 1972 | $1,145 | - | $282.1 | - |
| 1973 | $1,221 | - | $306 | - |
| 1974 | $1,328 | - | $331 | - |
| 1975 | $1,464 | - | $331 | - |
| 1976 | $1,616 | - | $324 | - |
| 1977 | $1,781 | - | $484 | - |
| 1978 | $1,972 | - | $592 | - |
| 1979 | $2,189 | - | $687 | - |
| 1980 | $2,423 | - | $790 | - |
| 1981 | $2,639 | - | $972 | - |
| 1982 | $2,838 | - | $1,074 | - |
| 1983 | $3,049 | - | $1,144 | - |
| 1984 | $3,360 | - | $1,254 | - |
| 1985 | $3,728 | - | $1,342 | - |
| 1986 | $4,144 | - | $1,472 | - |
| 1987 | $4,616 | - | $1,596 | - |
| 1988 | $5,145 | - | $1,814 | - |
| 1989 | $5,741 | - | $1,930 | - |
| 1990 | $6,403 | $9,604 | $2,150 | $3,960 |
| 1991 | $6,824 | $10,179 | $2,271 | $4,126 |
| 1992 | $6,553 | $9,516 | $2,471 | $4,477 |
| 1993 | $5,892 | $8,344 | $2,540 | $4,769 |
| 1994 | $6,329 | $8,927 | $2,563 | $4,802 |
| 1995 | $7,038 | $9,858 | $2,795 | $5,277 |
| 1996 | $7,788 | $10,794 | $2,930 | $5,440 |
| 1997 | $7,945 | $10,951 | $3,074 | $5,726 |
| 1998 | $8,048 | $11,042 | $3,301 | $6,026 |
| 1999 | $7,630 | $10,382 | $3,447 | $6,266 |
| 2000 | $7,797 | $10,192 | $3,769 | $6,503 |
| 2001 | $8,240 | $10,999 | $4,071 | $6,768 |
| 2002 | $8,341 | $11,639 | $4,303 | $7,250 |
| 2003 | $7,862 | $11,395 | $4,500 | $7,903 |
| 2004 | $8,395 | $12,064 | $4,873 | $8,472 |
| 2005 | $9,640 | $12,868 | $5,157 | $8,986 |
| 2006 | $9,885 | $13,401 | $5,745 | $9,949 |
| 2007 | $10,408 | $14,216 | $6,398 | $10,604 |
| 2008 | $10,583 | $13,905 | $6,599 | $10,902 |
| 2009 | $10,155 | $13,183 | $6,464 | $10,869 |
| 2010 | $10,229 | $13,449 | $6,552 | $10,561 |
| 2011 | $11,001 | $14,683 | $6,528 | $10,774 |
| 2012 | $12,145 | $15,410 | $6,714 | $10,989 |
| 2013 | $12,769 | $15,298 | $7,072 | $11,625 |
| 2014 | $13,726 | $16,245 | $7,169 | $12,136 |
| 2015 | $15,691 | $17,685 | $7,354 | $12,379 |
| 2016 | $16,763 | $17,748 | $7,657 | $13,493 |
| 2017 | $16,034 | $17,462 | $7,988 | $13,575 |
| 2018 | $16,198 | $17,879 | $8,428 | $14,690 |
| 2019 | $15,841 | $18,227 | $8,741 | $15,340 |
| 2020 | $14,557 | $17,367 | $8,351 | $15,337 |
| 2021 | $13,257 | $15,663 | $8,641 | $16,201 |
| 2022 | $14,392 | $16,581 | $9,694 | $18,035 |
| 2023 | $15,899 | $17,532 | $10,582 | $19,820 |
| 2024 | - | - | $11,501 | $21,272 |
Government deficit by year
In 2023, Palau's government surplus, the difference between spending and revenue, was $2.88M, equivalent to 1.02% of GDP. This compares to Saint Vincent's deficit of -$128M, or -11.9% of GDP.
Over the past 24 years, Palau recorded a fiscal deficit in 13 of those years, while Saint Vincent ran a deficit in 23 years. On average, Palau posted an annual deficit equal to -2.44% of GDP, compared to deficit of -3.54% of GDP for Saint Vincent.
| Year | Deficit/surplus, % of GDP | |
|---|---|---|
|
Palau
|
Saint Vincent
|
|
| 1984 | - | 2.5% |
| 1985 | - | 4.23% |
| 1986 | - | 2.32% |
| 1987 | - | 1.1% |
| 1988 | - | 0.59% |
| 1989 | - | -1.92% |
| 1990 | - | 1.69% |
| 1991 | - | -0.47% |
| 1992 | - | -3.25% |
| 1993 | - | -1.46% |
| 1994 | - | 0.12% |
| 1995 | - | 1.08% |
| 1996 | - | 1.57% |
| 1997 | - | -2.77% |
| 1998 | - | -1.81% |
| 1999 | - | -1.93% |
| 2000 | -13.4% | -0.82% |
| 2001 | -16.7% | -1.6% |
| 2002 | -12.7% | -2% |
| 2003 | -3.17% | -2.51% |
| 2004 | -4.82% | -2.71% |
| 2005 | 1.38% | -4.3% |
| 2006 | 0.14% | -3.13% |
| 2007 | -2.08% | -3.07% |
| 2008 | -1.71% | -1.3% |
| 2009 | -2.14% | -2.85% |
| 2010 | -1.27% | -3.7% |
| 2011 | 1.29% | -3.5% |
| 2012 | 0.98% | -1.81% |
| 2013 | 0.54% | -5.81% |
| 2014 | 3.59% | -2.82% |
| 2015 | 5.08% | -2.01% |
| 2016 | 3.52% | 0.04% |
| 2017 | 4.76% | -1.56% |
| 2018 | 6.18% | -1.65% |
| 2019 | -0.36% | -3.45% |
| 2020 | -13% | -5.92% |
| 2021 | -9.94% | -7.19% |
| 2022 | -5.84% | -9.35% |
| 2023 | 1.02% | -11.9% |
| 2024 | 4.38% | -12.5% |
| 2025 | 2.29% | -7.74% |
Inflation comparison by year
Over the past 24 years, Palau has recorded an average annual inflation rate of 3.15%, compared with 2.33% in Saint Vincent. In 2024, inflation was 1.8% in Palau and 3.63% in Saint Vincent.
| Year | Inflation | ||
|---|---|---|---|
|
Palau
|
Saint Vincent
|
Palau
|
Saint Vincent
|
| 1996 | - | 4.41% | |
| 1997 | - | 0.44% | |
| 1998 | - | 2.14% | |
| 1999 | - | 1.01% | |
| 2000 | - | 0.17% | |
| 2001 | -0.7% | 0.9% | |
| 2002 | -0.3% | 1.86% | |
| 2003 | 0.6% | 0.21% | |
| 2004 | 0.5% | 2.96% | |
| 2005 | 3.6% | 3.73% | |
| 2006 | 4.2% | 2.74% | |
| 2007 | 3% | 7.24% | |
| 2008 | 9.9% | 10.1% | |
| 2009 | 4.7% | 0.42% | |
| 2010 | 1.1% | 0.75% | |
| 2011 | 2.6% | 3.19% | |
| 2012 | 5.4% | 2.6% | |
| 2013 | 2.8% | 0.81% | |
| 2014 | 4% | 0.19% | |
| 2015 | 2.2% | -1.73% | |
| 2016 | -1.3% | -0.15% | |
| 2017 | 1.1% | 2.15% | |
| 2018 | 2.4% | 2.32% | |
| 2019 | 0.4% | 0.91% | |
| 2020 | 0.7% | -0.63% | |
| 2021 | -0.5% | 1.57% | |
| 2022 | 13.2% | 5.66% | |
| 2023 | 12.4% | 4.56% | |
| 2024 | 3.6% | 3.63% | |
| 2025 | 1.8% | - | |
Balance of trade
|
Palau
|
Saint Vincent
|
|
|---|---|---|
Current account balance
|
-$135M
2022 |
-$157M
2024 |
| Current account balance ranking |
89/189
2022 |
91/189
2024 |
| Current account balance, % of GDP |
-53%
2022 |
-13.5%
2024 |
| Goods imports |
$159M
2022 |
$445M
2024 |
| Goods exports |
$2.1M
2022 |
$59.2M
2024 |
| Service imports |
$58.2M
2022 |
$196M
2024 |
| Service exports |
$22.4M
2022 |
$366M
2024 |
| Imports of goods and services, % of GDP |
74.3%
2022 |
n/a |
| Exports of goods and services, % of GDP |
13.5%
2022 |
15.3%
2025 |
Economic freedom indices
The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.
|
Palau
|
Saint Vincent
|
|
|---|---|---|
| Economic freedom | 62 | 60.1 |
| Economic freedom ranking | 84/197 | 95/197 |
| Property rights | n/a | 69 |
| Government integrity | n/a | 61.7 |
| Judicial effectiveness | n/a | 77.8 |
| Tax burden | n/a | 74.9 |
| Government spending | n/a | 58.9 |
| Fiscal health | n/a | 4.8 |
| Business freedom | n/a | 69.4 |
| Labor freedom | n/a | 59.7 |
| Monetary freedom | n/a | 76.5 |
| Trade freedom | n/a | 59 |
| Investment freedom | n/a | 70 |
| Financial freedom | n/a | 40 |
More economic indicators
|
Palau
|
Saint Vincent
|
|
|---|---|---|
| Services, % of GDP |
76.7%
2023 |
66.4%
2024 |
| Industry, % of GDP |
9.87%
2023 |
15.4%
2024 |
| Agriculture, forestry, and fishing, % of GDP |
2.99%
2023 |
3.55%
2024 |
|
GNI, Atlas method
|
$249M
2023 |
$1.11B
2024 |
| GNI per capita, PPP |
$16,500
2023 |
$21,080
2024 |
| Total reserves including gold | n/a |
$317M
2024 |
| Total reserves ranking | n/a |
167/177
2024 |
|
Net foreign direct investment
|
-$72M
2022 |
-$74M
2024 |
|
Net inflows of foreign direct investment
|
$69.1M
2024 |
$73.8M
2024 |
|
Net outflows of foreign direct investment
|
-$38K
1998 |
-$277K
2024 |
|
Servicing debt to the IMF, % of GNI
|
n/a |
3.55%
2023 |
| Poverty at national poverty lines |
24.9%
2020 |
n/a |
|
Gross capital formation, % of GDP
|
38.4%
2022 |
n/a |
GDP per capita map
GDP per capita
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Economy comparisons
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.