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Economy of Palau vs Serbia compared: GDP & Debt

Updated on by Georank team

Palau has a GDP of $277M compared to $90.1B for Serbia, ranking 194/197 and 76/197 by economy size, respectively.

Palau vs Serbia GDP by year

Palau
Serbia
1x
Year GDP, current $
Palau Serbia
2024 - $90,097,765,959
2023 $276,733,063 $81,343,999,280
2022 $243,826,813 $66,809,895,701
2021 $231,343,460 $66,159,884,073
2020 $261,688,507 $55,874,017,669
2019 $282,041,290 $53,864,693,665
2018 $287,998,352 $52,787,520,249
2017 $292,148,590 $45,972,834,714
2016 $305,227,020 $42,225,495,910
2015 $287,057,526 $41,297,410,635
2014 $245,591,095 $49,114,321,280
2013 $224,110,611 $50,455,529,604
2012 $215,616,882 $45,103,269,969
2011 $198,742,371 $51,251,098,408
2010 $188,042,374 $43,536,629,233
2009 $189,854,706 $46,955,984,410
2008 $201,067,734 $54,220,641,202
2007 $200,789,764 $44,888,028,946
2006 $193,611,359 $33,298,057,362
2005 $190,961,685 $28,334,256,181
2004 $166,363,739 $26,845,632,342
2003 $154,566,788 $23,593,044,418
2002 $162,658,722 $17,930,583,571
2001 $159,446,228 $13,599,378,662
2000 $149,551,483 $7,326,373,882
1999 $144,206,500 $20,878,694,851
1998 $149,079,600 $21,004,077,441
1997 $143,860,800 $27,153,408,995
1996 $137,494,600 $23,277,430,168
1995 $121,018,500 $17,921,892,655
1994 $106,138,500 -
1993 $96,455,700 -
1992 $104,771,300 -
1991 $106,555,300 -
1990 $97,702,303 -
1989 $85,800,543 -
1988 $75,348,615 -
1987 $66,169,905 -
1986 $58,109,314 -
1985 $51,030,637 -
1984 $44,814,259 -
1983 $39,661,530 -
1982 $36,027,583 -
1981 $32,726,594 -
1980 $29,728,054 -
1979 $27,004,251 -
1978 $24,530,015 -
1977 $22,308,104 -
1976 $20,364,420 -
1975 $18,521,112 -
1974 $16,848,759 -
1973 $15,331,889 -
1972 $13,956,474 -
1971 $12,706,874 -
1970 $11,563,041 -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/palau/serbia | CC BY

GDP per capita in Palau vs Serbia by year

Palau
GDP per capita

GDP per capita, PPP
Serbia
GDP per capita

GDP per capita, PPP
1x
Year Current $
Palau Serbia
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 - - $13,679 $32,832
2023 $15,611 $18,230 $12,282 $29,777
2022 $13,730 $17,185 $10,025 $26,143
2021 $13,009 $15,781 $9,681 $23,406
2020 $14,708 $17,390 $8,099 $21,013
2019 $15,847 $18,422 $7,756 $20,587
2018 $16,167 $18,172 $7,560 $18,469
2017 $16,402 $17,991 $6,548 $17,285
2016 $17,150 $18,235 $5,982 $16,455
2015 $16,154 $17,854 $5,820 $15,546
2014 $13,863 $16,442 $6,887 $15,296
2013 $12,699 $15,425 $7,040 $15,247
2012 $12,137 $15,461 $6,263 $14,506
2011 $10,994 $14,673 $7,082 $14,298
2010 $10,222 $13,443 $5,971 $13,320
2009 $10,148 $13,414 $6,414 $13,038
2008 $10,578 $14,039 $7,377 $13,123
2007 $10,403 $14,308 $6,081 $11,685
2006 $9,882 $13,545 $4,493 $10,463
2005 $9,635 $12,960 $3,808 $9,398
2004 $8,394 $12,213 $3,597 $8,715
2003 $7,862 $11,588 $3,154 $8,023
2002 $8,340 $11,704 $2,391 $7,563
2001 $8,239 $11,092 $1,812 $6,803
2000 $7,798 $10,197 $975 $6,416
1999 $7,630 $10,388 $2,769 $5,897
1998 $8,048 $11,048 $2,775 $6,460
1997 $7,945 $10,957 $3,574 $6,040
1996 $7,788 $10,800 $3,054 $5,434
1995 $7,038 $9,863 $2,349 $5,022
1994 $6,329 $8,932 - -
1993 $5,892 $8,348 - -
1992 $6,553 $9,521 - -
1991 $6,824 $10,184 - -
1990 $6,403 $9,609 - -
1989 $5,741 - - -
1988 $5,145 - - -
1987 $4,616 - - -
1986 $4,144 - - -
1985 $3,728 - - -
1984 $3,360 - - -
1983 $3,049 - - -
1982 $2,838 - - -
1981 $2,639 - - -
1980 $2,423 - - -
1979 $2,189 - - -
1978 $1,972 - - -
1977 $1,781 - - -
1976 $1,616 - - -
1975 $1,464 - - -
1974 $1,328 - - -
1973 $1,221 - - -
1972 $1,145 - - -
1971 $1,081 - - -
1970 $1,017 - - -

Data sources: World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06).

GeoRank.org/economy/palau/serbia | CC BY

Palau's GDP per capita is $15,611, ranking 67/197, compared to $13,679 in Serbia, ranking 73/197. Adjusted for purchasing power (GDP per capita PPP), Palau ranks 103rd at $18,230, while Serbia ranks 69th at $32,832.

Economic indicators

Palau Serbia
Gross domestic product
$277M
2023
$90.1B
2024
GDP rank
194/197
2023
76/197
2024
GDP growth
2.22%
2022-2023
3.95%
2023-2024
GDP per capita
$15,611
2023
$13,679
2024
GDP per capita rank
67/197
2023
73/197
2024
GDP per capita, PPP
$18,230
2023
$32,832
2024
GDP per capita PPP rank
103/197
2023
69/197
2024
Government debt n/a
$40.1B
2024
Debt-to-GDP ratio n/a
44.5%
2024
Government debt per person n/a
$6,084
2024
Government debt per person rank n/a
73/185
2024
Average annual personal income after taxes
$9,869
2026
$12,252
2026
Market capitalization of domestic companies n/a
$4.06B
2011
Income share by richest 10% n/a
24.7%
2022
Income share by poorest 10% n/a
2.4%
2022
Government expenditure, % of GDP
52.3%
2024
42.7%
2024
Consumer prices inflation
3.6%
2023-2024
4.67%
2023-2024
Central bank interest rate n/a
5.75%
2024
Unemployment rate
2.09%
2023
7.24%
2024
Population
17629
6494521

Government deficit by year

Deficit/surplus
Palau

Serbia
1x
Year Deficit/surplus, % of GDP
Palau Serbia
2024 1.67% -1.75%
2023 0.73% -1.21%
2022 -3.99% -0.14%
2021 -9.94% -3.16%
2020 -13% -6.91%
2019 -0.36% -0.004%
2018 6.18% 0.78%
2017 4.76% 1.32%
2016 3.52% -1.08%
2015 5.08% -3.25%
2014 3.59% -5.61%
2013 0.54% -4.79%
2012 0.98% -6.11%
2011 1.29% -3.75%
2010 -1.27% -3.35%
2009 -2.14% -3.3%
2008 -1.71% -4.25%
2007 -2.08% -0.8%
2006 0.14% -0.9%
2005 1.38% 1.02%
2004 -4.82% 0.06%
2003 -3.18% -2.39%
2002 -12.7% -2.33%
2001 -16.7% 0.32%
2000 -13.4% -0.15%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20).

GeoRank.org/economy/palau/serbia | CC BY

In 2023, Palau's government surplus, the difference between spending and revenue, was $2.02M, equivalent to 0.73% of GDP. This compares to Serbia's deficit of $985M, or 1.21% of GDP.

Over the past 24 years, Palau recorded a fiscal deficit in 13 of those years, while Serbia ran a deficit in 19 years. On average, Palau posted an annual deficit equal to 2.38% of GDP, compared to deficit of 2.08% of GDP for Serbia.

Inflation comparison by year

Inflation
Palau

Serbia
1x
Year Consumer prices inflation
Palau Serbia
2024 3.6% 4.67%
2023 12.4% 12.4%
2022 13.2% 12%
2021 -0.5% 4.09%
2020 0.7% 1.58%
2019 0.4% 1.85%
2018 2.4% 1.96%
2017 1.1% 3.13%
2016 -1.3% 1.12%
2015 2.2% 1.39%
2014 4% 2.08%
2013 2.8% 7.69%
2012 5.4% 7.33%
2011 2.6% 11.1%
2010 1.1% 6.14%
2009 4.7% 8.12%
2008 9.9% 12.4%
2007 3% 6.39%
2006 4.2% 11.7%
2005 3.6% 16.1%
2004 0.5% 11%
2003 0.6% 9.88%
2002 -0.3% 19.5%
2001 -0.7% 95%
2000 - 71.1%
1999 - 42.5%
1998 - 30.2%
1997 - 23.3%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2001–2024, retrieved 2026-02-20).

GeoRank.org/economy/palau/serbia | CC BY

Over the past 24 years, Palau has recorded an average annual inflation rate of 3.15%, compared with 11.2% in Serbia. In 2024, inflation was 3.6% in Palau and 4.67% in Serbia.

Balance of trade

Palau Serbia
Current account balance
-$134M
2023
-$4.1B
2024
Current account balance ranking
91/190
2023
162/190
2024
Current account balance, % of GDP
-48.5%
2023
-4.56%
2024
Goods imports
$164M
2023
$39.6B
2024
Goods exports
$1.74M
2023
$32.2B
2024
Service imports
$43M
2023
$12.6B
2024
Service exports
$61.9M
2023
$15.7B
2024
Imports of goods and services, % of GDP
80.4%
2023
58.1%
2024
Exports of goods and services, % of GDP
26.3%
2023
53.6%
2024

Economic freedom indices

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

Palau Serbia
Economic freedom 62 65
Economic freedom ranking 89/197 68/197
Property rights n/a 57.2
Government integrity n/a 37.2
Judicial effectiveness n/a 50.1
Tax burden n/a 88
Government spending n/a 48.2
Fiscal health n/a 94.3
Business freedom n/a 73.6
Labor freedom n/a 61.8
Monetary freedom n/a 73
Trade freedom n/a 76.6
Investment freedom n/a 70
Financial freedom n/a 50

Other economic metrics

Palau Serbia
Services, % of GDP
74.8%
2023
58.8%
2024
Industry, % of GDP
10.1%
2023
23.1%
2024
Agriculture, forestry, and fishing, % of GDP
3.04%
2023
3.17%
2024
GNI, Atlas method
$262M
2023
$76.5B
2024
GNI per capita, PPP
$18,320
2023
$30,770
2024
Total reserves including gold n/a
$30.5B
2024
Total reserves ranking n/a
55/177
2024
Net foreign direct investment
-$79.9M
2023
-$4.93B
2024
Net inflows of foreign direct investment
$69.1M
2024
$5.59B
2024
Net outflows of foreign direct investment
$0
2024
$661M
2024
Servicing debt to the IMF, % of GNI n/a
12.2%
2024
Poverty at national poverty lines
24.9%
2020
19.7%
2023
Gross capital formation, % of GDP
35.6%
2023
25%
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/palau/serbia | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1970–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (2000–2024, retrieved 2026-02-20)
  3. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  4. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  5. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  6. LivingCost (2026, retrieved 2025-10-14)
  7. 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.