Flag Marshall Islands

Product Exports (2018): $661M, Rank 159 of 222

Exports Per Capita (2018): $11.3k, Rank 127 of 219

Product Imports (2018): $5.6B, Rank 127 of 221

Imports Per Capita (2018): $95.8k, Rank 155 of 219

Service Exports (2018): $26.7M, Rank 87 of 88

Service Imports (2018): $55.8M, Rank 88 of 88

GDP (2018): $221M, CURRENT US$
Rank 193 of 196

GDP growth (2008 - 2018): 44.5%, CURRENT US$
Rank 90 of 196

GDP PC (2018): $3,788, CURRENT US$
Rank 125 of 196

GDP PC GROWTH (2008 - 2018): 39%, CURRENT US$
Rank 63 of 196

Overview: In 2018 Marshall Islands was the number 193 economy in the world in terms of GDP (current US$), the number 159 in total exports, and the number 127 in total imports. In 2018, Marshall Islands exported $661M and imported $5.6B, resulting in a negative trade balance of -$4.93B. In 2018, Marshall Islands's exports per capita were $11.3k and its imports per capita were $95.8k.

Trade: The top exports of Marshall Islands are Passenger and Cargo Ships ($442M), Non-fillet Frozen Fish ($70.1M), Recreational Boats ($59.1M), Scrap Plastic ($31M), and Refined Petroleum ($22.5M). The top imports of Marshall Islands are Passenger and Cargo Ships ($3.88B), Refined Petroleum ($747M), Special Purpose Ships ($277M), Recreational Boats ($218M), and Planes, Helicopters, and/or Spacecraft ($74.8M).

Destinations: Marshall Islands exports mostly to South Korea ($148M), Cyprus ($145M), Netherlands ($55.5M), Germany ($54.7M), and Indonesia ($52.8M), and imports mostly from South Korea ($2.04B), Belgium-Luxembourg ($1.18B), Germany ($792M), China ($574M), and Turkey ($136M).

Product Exports

#permalink to section
Depth
Value

Top Export (2018): Passenger and Cargo Ships, $442M

Top Destination (2018): South Korea, $148M

In 2018 Marshall Islands exported a total of $661M, making it the number 159 exporter in the world. During the last five reported years the exports of Marshall Islands have changed by -$149M from $810M in 2013 to $661M in 2018.

The most recent exports are led by Passenger and Cargo Ships ($442M), Non-fillet Frozen Fish ($70.1M), Recreational Boats ($59.1M), Scrap Plastic ($31M), and Refined Petroleum ($22.5M). The most common destination for the exports of Marshall Islands are South Korea ($148M), Cyprus ($145M), Netherlands ($55.5M), Germany ($54.7M), and Indonesia ($52.8M).

Explore Visualizations

Product Imports

#permalink to section
Depth
Value

Top Import (2018): Passenger and Cargo Ships, $3.88B

Top Origin (2018): South Korea, $2.04B

In 2018 Marshall Islands imported $5.6B, making it the number 127 trade destination in the world. During the last five reported years the imports of Marshall Islands changed by -$5.08B from $10.7B in 2013 to $5.6B in 2018.

The most recent imports of Marshall Islands are led by Passenger and Cargo Ships ($3.88B), Refined Petroleum ($747M), Special Purpose Ships ($277M), Recreational Boats ($218M), and Planes, Helicopters, and/or Spacecraft ($74.8M). The most common import partners for Marshall Islands are South Korea ($2.04B), Belgium-Luxembourg ($1.18B), Germany ($792M), China ($574M), and Turkey ($136M).

Explore Visualizations

Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Marshall Islands Exports Services (2018): $26.7M

Marshall Islands Imports Services (2018): $55.8M

In 2018, Marshall Islands exported $26.7M worth of services. The top services exported by Marshall Islands in 2018 were Transportation ($12.5M), Business travel ($6.65M), Government services, n.i.e. ($5.52M), Personal travel ($1.92M), and Computer and information services ($154k).

The top services imported by Marshall Islands in 2018 were Transportation ($28.7M), Personal travel ($15.1M), Business travel ($4.79M), Government services, n.i.e. ($4.05M), and Financial services ($2.99M).

Trade Forecasts

#permalink to section

This section shows forecasts for total product exports and imports for Marshall Islands. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

Explore Forecasts

Economic Complexity

#permalink to section

Most Specialized Products by RCA Index

#permalink to section

Marshall Islands has a high level of specialization in Passenger and Cargo Ships (253), Scrap Plastic (246), Recreational Boats (102), Scrap Vessels (92.9), and Non-fillet Frozen Fish (74.4). Specialization is measured using RCA, an index that takes the ratio between Marshall Islands observed and expected exports in each product.

Most Complex Products by PCI

#permalink to section

The highest complexity exports of Marshall Islands according to the product complexity index (PCI) are Artificial, graphite and preparations (1.18), Polymers, natural, modified nes, in primary forms (0.73), Titanium, articles thereof, waste or scrap (0.56), Yachts, pleasure, sports vessels, rowing boats, canoes (0.31), and Ether and derivatives (0.17). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

#permalink to section

The top export opportunities for Marshall Islands according to the relatedness index, are Crustaceans (0.035), Palm Oil (0.033), Cocoa Beans (0.033), Crude Petroleum (0.033), and Molluscs (0.032). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Marshall Islands is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

#permalink to section
Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.