The GDP composition of the Marshall Islands in 2023 shows a heavy reliance on the services sector, which contributes 47.35% of the GDP. Agriculture, along with hunting, forestry, and fishing, represents 17.04%, while wholesale and retail trade, restaurants, and hotels account for 15.35%. Transport, storage, and communication constitute 9.57%, with construction at 5.47%, and mining, manufacturing, and utilities comprising 5.22%. In recent years, the services sector has driven economic growth, followed by wholesale and retail trade. Over the past five years, these sectors have shown a steady upward trend in their contributions to GDP.
Future trends to watch include the potential increase in services due to economic diversification efforts, the impact of global trade on the wholesale and retail sector, and sustainable development in agriculture and fisheries. Monitoring technological advancements in communication and transportation sectors is also essential for forecasting future economic dynamics.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 47.35 | 2016 | |
| 2 | 2 Agriculture, hunting, forestry, fishing | 17.04 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 15.35 | 2016 | |
| 4 | 4 Transport, storage and communication | 9.57 | 2016 | |
| 5 | 5 Construction | 5.47 | 2016 | |
| 6 | 6 Mining, Manufacturing, Utilities | 5.22 | 2016 |
