External balance on goods and services in Pacific island small states
Pacific island small states: External balance on goods and services was -23.2% in 2024. ▼ Falling
External balance on goods and services in Pacific island small states, 1980–2024
Source: Country official statistics, National Statistical Organizations and/or Central Banks. Measured in % of GDP.
Analysis
Pacific island small states recorded -23.2% for external balance on goods and services in 2024.
That represents a change of up 6.8% on the previous year and down 59.9% over ten years.
Over the whole period, external balance on goods and services in Pacific island small states peaked at -10.5% in 1997 and was at its lowest, -30.5%, in 2022.
That places Pacific island small states 44th out of 44 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently falling across the 45 years of available data.
External balance on goods and services in Pacific island small states, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | -16.8% | — |
| 1981 | -26.6% | +57.8% |
| 1982 | -19.6% | -26.4% |
| 1983 | -19.9% | +1.6% |
| 1984 | -13.5% | -31.8% |
| 1985 | -15.2% | +11.9% |
| 1986 | -11.6% | -23.5% |
| 1987 | -13.3% | +14.6% |
| 1988 | -17.2% | +29.5% |
| 1989 | -18.8% | +9.5% |
| 1990 | -22.4% | +18.8% |
| 1991 | -21.7% | -3.1% |
| 1992 | -18.2% | -16.0% |
| 1993 | -21.3% | +17.0% |
| 1994 | -18.1% | -14.9% |
| 1995 | -17.5% | -3.6% |
| 1996 | -10.9% | -37.7% |
| 1997 | -10.5% | -4.0% |
| 1998 | -12.0% | +14.9% |
| 1999 | -12.1% | +0.6% |
| 2000 | -16.5% | +36.5% |
| 2001 | -19.6% | +18.7% |
| 2002 | -14.1% | -28.0% |
| 2003 | -17.1% | +21.5% |
| 2004 | -22.0% | +28.2% |
| 2005 | -18.7% | -14.7% |
| 2006 | -23.3% | +24.3% |
| 2007 | -20.8% | -10.7% |
| 2008 | -22.7% | +9.1% |
| 2009 | -19.5% | -13.9% |
| 2010 | -19.4% | -0.9% |
| 2011 | -15.9% | -18.1% |
| 2012 | -13.8% | -12.9% |
| 2013 | -17.8% | +29.0% |
| 2014 | -14.5% | -18.7% |
| 2015 | -15.1% | +4.2% |
| 2016 | -13.2% | -12.7% |
| 2017 | -13.3% | +1.1% |
| 2018 | -14.3% | +6.8% |
| 2019 | -18.0% | +26.5% |
| 2020 | -22.6% | +25.1% |
| 2021 | -29.2% | +29.6% |
| 2022 | -30.5% | +4.5% |
| 2023 | -24.9% | -18.5% |
| 2024 | -23.2% | -6.8% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | -17.2% | -26.6% | -11.6% | 10 |
| 1990s | -16.5% | -22.4% | -10.5% | 10 |
| 2000s | -19.4% | -23.3% | -14.1% | 10 |
| 2010s | -15.5% | -19.4% | -13.2% | 10 |
| 2020s | -26.1% | -30.5% | -22.6% | 5 |
Countries ranked near Pacific island small states
- 41 Côte d'Ivoire 5.0% compare
- 42 Burkina Faso 5.0% compare
- 43 Venezuela, Bolivarian Republic of 4.8% compare
- 44 Hungary 4.5% compare
- 45 Uruguay 4.4% compare
- 46 Congo 4.4% compare
- 47 China 4.2% compare
More economy & growth data for Pacific island small states
- GDP per capita 4,720 current US$ (2025)
- Inflation, GDP deflator 3.0% (2025)
- Gross value added at basic prices (GVA) 10.84 billion current US$ (2024)
- Gross value added at basic prices (GVA) 9.11 billion constant 2015 US$ (2024)
- GDP 13.01 billion current US$ (2025)
- GDP 11.21 billion constant 2015 US$ (2025)
- GDP growth 3.3% (2025)
- Manufacturing, value added (current US$), per unit of GDP 0.0692 current US$ per US$ of GDP (2025)
- Manufacturing, value added (current US$), per capita 326.37 current US$ per person (2025)
- GNI, Atlas method 13.06 billion current US$ (2025)
Frequently asked questions
- What is external balance on goods and services in Pacific island small states?
- External balance on goods and services in Pacific island small states was -23.2% in 2024, according to Country official statistics, National Statistical Organizations and/or Central Banks.
- What is the highest external balance on goods and services recorded in Pacific island small states?
- The highest recorded value was -10.5% in 1997.
- What is the lowest external balance on goods and services recorded in Pacific island small states?
- The lowest recorded value was -30.5% in 2022.
- How does Pacific island small states rank for external balance on goods and services?
- Pacific island small states ranks 44th out of 44 groups with data for 2024.
- Is external balance on goods and services rising or falling in Pacific island small states?
- Over the last ten years it is down 59.9%. The long-run trend across the full record is falling.
- Where does this Pacific island small states data come from?
- The figures come from Country official statistics, National Statistical Organizations and/or Central Banks, published as part of External balance on goods and services (% of GDP). Statizoid updates them automatically from the source API.
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About this data
The balance of international trade in goods and services is the difference between the exports and imports of goods and services. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.