| variable | 1990-1999 | 2000-2007 | 2008-2009 | 2010-2019 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|
| real gdp growth | 0.27 | 0.8 | 4.65 | 2.19 | -5.3 | 3.0 | 2.5 | 3.7 | 2.0 |
| CPI % | - | 5.62 | 1.15 | 0.91 | 7.4 | 5.2 | 5.5 | 7.4 | 5.5 |
| Unemployment rate | - | - | - | - | - | - | - | - | - |
| Debt/GDP % | 20.05 | 42.11 | 40.0 | 30.29 | 18.2 | 14.2 | 11.8 | 16.7 | 15.3 |
| Current account balance/GDP % | -12.05 | 3.45 | -11.8 | 4.72 | 15.8 | 15.7 | 9.1 | 2.4 | 6.2 |
Data derived from World Economic Outlook Database. To see main macroeconomic indicator in graphs click here
Humans arrived in the Marshall Islands in the first millennium B.C. and gradually created permanent settlements on the various atolls. The early inhabitants were skilled navigators who frequently traveled between atolls using stick charts to map the islands. Society became organized under two paramount chiefs, one each for the Ratak (Sunrise) Chain and the Ralik (Sunset) Chain. Spain formally claimed the islands in 1592. Germany established a supply station on Jaluit Atoll and bought the islands from Spain in 1884, although paramount chiefs continued to rule. Japan seized the Marshall Islands in 1914 and was granted a League of Nations Mandate to administer the islands in 1920. The US captured the islands in heavy fighting during World War II, and the islands came under US administration as part of the Trust Territory of the Pacific Islands (TTPI) in 1947. Between 1946 and 1958, the US resettled populations from Bikini and Enewetak Atolls and conducted 67 nuclear tests; people from Ailinginae, Rongelap, and Utrik Atolls were also evacuated because of nuclear fallout, and Bikini and Rongelap remain largely uninhabited. In 1979, the Marshall Islands drafted a constitution separate from the rest of the TTPI and declared independence under President Amata KABUA, a paramount chief. In 2000, Kessai NOTE became the first commoner elected president. In 2016, Hilda HEINE was the first woman elected president.
Area: 181 sq km km2
Climate: tropical; hot and humid; wet season May to November; islands border typhoon belt
Natural resources: coconut products, marine products, deep seabed minerals
Groups: Marshallese 95.6%, Filipino 1.1%, other 3.3% (2021 est.)
Languages: Marshallese (official) 98.2%, other languages 1.8% (1999)
Religions: Protestant 79.3% (United Church of Christ 47.9%, Assembly of God 14.1%, Full Gospel 5%, Bukot Nan Jesus 3%, Salvation Army 2.3%, Reformed Congressional Church 2.2%, Seventh Day Adventist 1.7%, New Beginning Church 1.4%, other Protestant 1.6%), Roman Catholic 9.3%, Church of Jesus Christ 5.7%, Jehovah's Witness 1.3%, other 3.3%, none 1.1% (2021 est.)
Capital: Majuro
Government type: mixed presidential-parliamentary system in free association with the US
Chief of state: President Hilda C. HEINE (since 3 January 2023)
Head of government: President Hilda C. HEINE (since 3 January 2023)
Description: Parliament (Nitijela) - unicameral
upper middle-income Pacific island economy; US aid reliance; large public sector; coconut oil production as diesel fuel substitute; growing offshore banking locale; fishing rights seller; import-dependent
copra, tuna processing, tourism, craft items (from seashells, wood, and pearls)
GDP by sector: Agriculture: 19.5% (2023 est.), Industry: 11.1% (2023 est.), Services: 70.5% (2023 est.)
Export partners: UK 16%, Germany 13%, Denmark 10%, Ghana 9%, Cyprus 9% (2023)
Export commodities: ships, refined petroleum, fish, natural gas, stone processing machines (2023)
Import partners: China 47%, Japan 15%, Germany 5%, Brazil 4%, Cyprus 4% (2023)
Import commodities: ships, refined petroleum, additive manufacturing machines, iron structures, crude petroleum (2023)
Oceania, consists of 29 atolls and five isolated islands in the North Pacific Ocean, about halfway between Hawaii and Australia; the atolls and islands are situated in two, almost-parallel island chains - the Ratak (Sunrise) group and the Ralik (Sunset) group; the total number of islands and islets is about 1,225; 22 of the atolls and four of the islands are uninhabited
Information derived from worldfactbook.io (Lupon Media), open successor to the CIA World Factbook. Data sourced from World Bank, IMF, UN and other international organizations.