What was Tuvalu's GDP growth (annual %) in 2023?

In 2023, Tuvalu's GDP growth (annual %) was 3.85, according to World Bank Open Data.

Is Tuvalu's GDP growth (annual %) rising or falling?

Tuvalu's GDP growth (annual %) rose 468.8% from 2022 to 2023.

How does Tuvalu's GDP growth (annual %) compare to the world average?

The global average for GDP growth (annual %) in 2023 was 3.07, so Tuvalu is above the world average.

Tuvalu: GDP growth (annual %)

Name: Tuvalu: GDP growth (annual %)
Creator: World Bank
License: https://datacatalog.worldbank.org/public-licenses#cc-by

In 2023, Tuvalu's GDP growth (annual %) was 3.85.

That's up 468.8% from 2022, the highest value since 2019.

The global average for this indicator in 2023 was 3.07 .

Source: World Bank Open Data (NY.GDP.MKTP.KD.ZG) • 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: 13.82; 2019
Trough: -6.25; 2009
1-year change: +468.8%
5-year change: +177.7%; +22.7% / yr
10-year change: -11.4%; -1.2% / yr

Historical Data — Last 10 Years

Year	GDP growth (annual %)
2023	3.8528
2022	0.6773
2021	1.8041
2020	-4.2749
2019	13.8221
2018	1.3873
2017	2.4484
2016	5.6604
2015	10.4167
2014	0.0000

About GDP growth (annual %)

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 denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Indicator code: NY.GDP.MKTP.KD.ZG • 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 growth (annual %) in 2023?: In 2023, Tuvalu's GDP growth (annual %) was 3.85, according to World Bank Open Data.
Is Tuvalu's GDP growth (annual %) rising or falling?: Tuvalu's GDP growth (annual %) rose 468.8% from 2022 to 2023.
How does Tuvalu's GDP growth (annual %) compare to the world average?: The global average for GDP growth (annual %) in 2023 was 3.07, so Tuvalu is above the world average.
What is GDP growth (annual %) 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 denotes the percentage change over each previous year of the constant price (base year 2015) series in United States dollars.

Download this data: CSV JSON

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