What was Tuvalu's GDP (current US$) in 2023?

In 2023, Tuvalu's GDP (current US$) was 62.28 million, according to World Bank Open Data.

Is Tuvalu's GDP (current US$) rising or falling?

Tuvalu's GDP (current US$) rose 5.4% from 2022 to 2023.

How does Tuvalu's GDP (current US$) compare to the world average?

The global average for GDP (current US$) in 2023 was $572.20 billion, so Tuvalu is below the world average.

Tuvalu: GDP (current US$)

Name: Tuvalu: GDP (current US$)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2023, Tuvalu's GDP (current US$) was 62.28 million.

That's up 5.4% from 2022, the highest value on record.

The global average for this indicator in 2023 was $572.20 billion .

Source: World Bank Open Data (NY.GDP.MKTP.CD) • Data as of 2023

Trend (2005–2023)

2008 · Global financial crisis
2020 · COVID-19 pandemic
2014 · Oil price collapse
2022 · Russia–Ukraine war begins

Highlights

Peak: 62.28M; 2023
Trough: 22.91M; 2005
1-year change: +5.4%
5-year change: +29.7%; +5.3% / yr
10-year change: +61.3%; +4.9% / yr

Real vs nominal growth

Over the last 10 years, Tuvalu's nominal GDP (current US$) changed by +61.3%, while real (inflation-adjusted) GDP (constant 2015 US$) changed by +40.5%. The +20.7 percentage-point gap is the combined effect of inflation and currency movement — only the real series isolates underlying economic growth.

Historical Data — Last 10 Years

Year	GDP (current US$)
2023	62.280M
2022	59.066M
2021	60.196M
2020	51.747M
2019	54.123M
2018	48.015M
2017	45.277M
2016	41.629M
2015	36.812M
2014	38.761M

About GDP (current US$)

Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

Indicator code: NY.GDP.MKTP.CD • Category: Economy

How to read GDP figures: GDP (Gross Domestic Product) is measured in current US dollars, which means values change both due to real economic growth and currency fluctuations. A more useful comparison across countries is GDP per capita, which divides GDP by population. For growth trends, check GDP growth (annual %).

Frequently asked questions

What was Tuvalu's GDP (current US$) in 2023?: In 2023, Tuvalu's GDP (current US$) was 62.28 million, according to World Bank Open Data.
Is Tuvalu's GDP (current US$) rising or falling?: Tuvalu's GDP (current US$) rose 5.4% from 2022 to 2023.
How does Tuvalu's GDP (current US$) compare to the world average?: The global average for GDP (current US$) in 2023 was $572.20 billion, so Tuvalu is below the world average.
What is GDP (current US$) and how is it measured?: Gross domestic product is the total income earned through the production of goods and services in an economic territory during an accounting period. It can be measured in three different ways: using either the expenditure approach, the income approach, or the production approach. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.

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Source: World Bank Open Data (NY.GDP.MKTP.CD), CC BY 4.0.