Trade in services (% of GDP) in Palau
Palau: Trade in services (% of GDP) 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 (% of GDP) 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% |
Palau compared with similar countries
- Palau's 38.0% is above the median for high income countries, which is 32.3%, 1.2× the median. (72 countries reporting)
- Palau's 38.0% is above the median for East Asia & Pacific, which is 26.5%, 1.4× the median. (33 countries reporting)
Biggest year-on-year movements
Years where Trade in services (% of GDP) in Palau changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2022 | +61.3% | 24.0% | 38.7% |
| 2021 | -43.2% | 42.3% | 24.0% |
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)
- SDRs holdings, US dollar, annual growth rate 4.97 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0287 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 560.2 units per person (2025)
- SDRs holdings, SDR, annual growth rate -0.043 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0209 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 409.06 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0177 units per US$ of GDP (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.