Trade in services in Palau
Palau: Trade in services was 38.0% in 2023. ▼ Falling
Trade in services in Palau, 2005–2023
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for trade in services in Palau is 38.0%, measured in 2023.
The figure is down 1.9% on the previous year and down 48.8% over ten years.
Over the whole period, trade in services in Palau peaked at 76.6% in 2015 and was at its lowest, 24.0%, in 2021.
That places Palau 48th out of 200 countries with data for 2023, putting it in the top quarter.
The long-run direction has been consistently falling across the 19 years of available data.
Trade in services in Palau, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2005 | 55.3% | — |
| 2006 | 54.4% | -1.6% |
| 2007 | 58.2% | +7.0% |
| 2008 | 64.2% | +10.3% |
| 2009 | 65.7% | +2.3% |
| 2010 | 68.9% | +4.9% |
| 2011 | 72.2% | +4.8% |
| 2012 | 75.3% | +4.2% |
| 2013 | 74.2% | -1.4% |
| 2014 | 74.7% | +0.7% |
| 2015 | 76.6% | +2.6% |
| 2016 | 64.3% | -16.0% |
| 2017 | 64.1% | -0.4% |
| 2018 | 59.5% | -7.2% |
| 2019 | 56.9% | -4.3% |
| 2020 | 42.3% | -25.7% |
| 2021 | 24.0% | -43.2% |
| 2022 | 38.7% | +61.3% |
| 2023 | 38.0% | -1.9% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2000s | 59.6% | 54.4% | 65.7% | 5 |
| 2010s | 68.7% | 56.9% | 76.6% | 10 |
| 2020s | 35.7% | 24.0% | 42.3% | 4 |
Countries ranked near Palau
More economy & growth data for Palau
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 1.69 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 1.5 Percent per annum (2029)
- Special drawing rights per domestic currency (End-of-period (EoP)) 0.7302 (2025)
- External balance on goods and services as a percent of GDP -40.4% (2024)
- Gdp worldbank constant usd, annual growth rate 6.29 % change on previous year (2025)
- US dollar per domestic currency (End-of-period (EoP)) 1 (2025)
- Gdp worldbank constant usd, per unit of GDP 0.7995 units per US$ of GDP (2025)
- Manufacturing value added to gdp, per capita 0.0001 units per person (2024)
- Gdp worldbank constant usd, per capita 15,617 units per person (2025)
- Domestic currency per US dollar (End-of-period (EoP)) 1 (2025)
Frequently asked questions
- What is trade in services in Palau?
- Trade in services in Palau was 38.0% in 2023, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Palau?
- The highest recorded value was 76.6% in 2015.
- What is the lowest trade in services recorded in Palau?
- The lowest recorded value was 24.0% in 2021.
- How does Palau rank for trade in services?
- Palau ranks 48th out of 200 countries with data for 2023.
- Is trade in services rising or falling in Palau?
- Over the last ten years it is down 48.8%. The long-run trend across the full record is falling.
- Where does this Palau data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
Download this data
CSV · JSON — 19 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. 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.