Palau
Description of Palau
Palau, an island country located in the western Pacific Ocean, is a nation of fascinating contrasts. With its stunning coral reefs, lush jungles, and vibrant culture, Palau has become a sought-after destination for tourists seeking natural beauty and adventure. However, beneath its picturesque exterior lies a nation grappling with economic challenges, geopolitical complexities, and environmental concerns. As a geopolitical and macroeconomic analyst, I delve into the intricate interplay of statistics and data to provide unique insights into how these factors impact Palau's development and its position in the global arena.
Population And Age Structure
Palau's total population of 17,972 is significantly below the average population of 40,097,746, ranking 192 out of 194 countries. The percentage of population aged 0-14 in Palau is 20.89%, below the average of 27.34%, placing Palau at rank 123 out of 194 countries. The total population aged 0-14 in Palau is 3,754, much lower than the average of 10,327,380.
Palau's population aged 15-64 constitutes 69.96% of the total population, higher than the average of 63.44%, ranking Palau at 21 out of 194 countries. However, the total population aged 15-64 in Palau is 12,573, significantly below the average of 26,003,407.
The percentage of the population aged 65 and above in Palau is 9.15%, slightly below the average of 9.22%, placing Palau at rank 74 out of 194 countries. The total population aged 65 and above in Palau is 1,645, much lower than the average of 3,766,959.
Summary
Palau has a relatively small total population compared to the global average, with a significantly lower number of individuals aged 0-14 and 65 and above. However, the percentage of the population aged 15-64 in Palau is higher than the average. These demographic indicators are crucial for policymakers and economists as they provide insights into the country's workforce distribution, dependency ratio, and potential future economic challenges related to an aging population.
Population Miscellaneous
- The rural population of Palau is 3,417, significantly below the average of 18,044,041. Palau ranks 189th out of 190 countries in this data set.
- Palau's rural population (% of total population) is 19.012%, lower than the average of 41.16%. Palau ranks 153rd out of 190 countries.
- The urban population of Palau is 14,555, below the average of 22,425,747. Palau ranks 191st out of 194 countries for urban population.
- Palau's urban population (% of total population) is 80.988%, above the average of 59.69%. Palau ranks 42nd out of 194 countries.
- Palau's age dependency ratio (% of working-age population) is 42.94%, lower than the average of 59.22%. Palau ranks 174th out of 194 countries in this metric.
- The crude birth rate in Palau is 12.1 births per 1,000 people, below the average of 19.38. Palau ranks 130th out of 192 countries.
- Palau's crude death rate is 8.4 deaths per 1,000 people, slightly above the average of 8.21. Palau ranks 77th out of 192 countries.
- The total fertility rate in Palau is 0.85 births per woman, significantly below the average of 2.60. Palau ranks 189th out of 190 countries for fertility rate.
Summary
Palau has a relatively small rural population and a higher urban population compared to the global averages, indicating a significant urbanization trend in the country. Additionally, Palau has a low age dependency ratio, reflecting a smaller burden on the working-age population. However, the low total fertility rate in Palau may pose challenges for future population growth and demographic sustainability.
These indicators are crucial for policymakers and analysts to understand the demographic landscape of Palau. They provide insights into the country's development trajectory, workforce dynamics, healthcare needs, and potential challenges related to an aging population and low fertility rates. By comprehensively analyzing these statistics, stakeholders can make informed decisions regarding social welfare, economic planning, and sustainable development strategies in Palau.
Military
Palau's Arms imports (SIPRI trend indicator values) stand at 7,000,000, significantly below the average of 205,522,123.89. The country ranks 90 out of 113 countries in this attribute data.
Summary
Palau's arms imports are relatively low compared to the global average, positioning the country at 90th place out of 113 countries in this aspect. This indicates that Palau has a minimal reliance on imported arms compared to other nations, potentially reflecting a focus on maintaining regional stability or prioritizing domestic defense production.
Natural Resources
Palau's forest area covers 414.1 sq. km, ranking 164th out of 191 countries with available data. This is significantly below the attribute average of 211,606.11 sq. km.
With a land area of 460 sq. km, Palau ranks 179th out of 194 countries. This is well below the attribute average of 665,166.51 sq. km.
Palau's surface area of 460 sq. km also places it at the 179th position out of 194 countries included in the data. The country falls short of the attribute average of 689,779.56 sq. km.
Palau's arable land spans 300 hectares, ranking 189th out of 190 countries. This is significantly lower than the attribute average of 7,329,543.16 hectares.
Summary
Palau ranks significantly below the global average in terms of forest area, land area, surface area, and arable land. These statistics highlight the limited natural resources available to Palau for economic development and sustainability. With such constraints, Palau may face challenges in areas such as agriculture, forestry, and land use planning, which are crucial for its long-term growth and environmental preservation.
Commodities
Comparing Palau's Aquaculture production of 22 metric tons to the attribute average of 679,642.92 metric tons, it is notably below average, ranking 161 out of 180 countries in the dataset.
Palau's Capture fisheries production of 776 metric tons is significantly lower than the attribute average of 467,453.06 metric tons, placing it at rank 173 out of 190 countries.
With a Total fisheries production of 798 metric tons, Palau falls far below the attribute average of 1,153,914.85 metric tons, at rank 177 out of 182 countries.
Palau's Fertilizer consumption of 0.6 kilograms per hectare of arable land is substantially lower than the attribute average of 159.04 kilograms per hectare. This places Palau at the bottom, ranking 182 out of 187 countries.
Summary
In summary, Palau exhibits significantly lower production levels in aquaculture, capture fisheries, and total fisheries compared to the global averages. Additionally, Palau's fertilizer consumption per hectare of arable land is extremely low, ranking it at the bottom globally. These findings are crucial as they indicate potential challenges in food security, economic growth, and environmental sustainability for Palau. Addressing these disparities is essential for enhancing the country's agricultural and fisheries sectors, ultimately supporting its overall development and resilience.
Intellectual Property
Palau's scientific and technical journal articles production is significantly below the attribute average of 15,103.76, with a value of 5.69, ranking at 184 out of 192 countries.
Summary
Palau's low production of scientific and technical journal articles, well below the global average, reflects a limited capability in research and innovation compared to other countries. This could hinder Palau's ability to keep pace with advancements in science and technology, impacting its competitiveness, economic development, and knowledge creation in an increasingly interconnected world.
Broad Economy Attributes
Palau's GDP (current US$) is $257,885,921.88, significantly below the average of $442,870,224,838.68, ranking 185th out of 189 countries.
Palau's GDP, PPP (current international $) is $311,336,642.67, well below the average of $734,141,122,350.78, ranking 177th out of 181 countries.
Palau's GDP per capita (current US$) stands at $14,349.32, slightly below the average of $15,462.11, ranking 55th out of 190 countries.
Palau's GDP per capita, PPP (current international $) is $17,323.43, below the average of $21,251.89, ranking 71st out of 181 countries.
Palau's GNI (current US$) is $264,385,921.88, falling short of the average of $452,040,815,370.70, ranking 183rd out of 185 countries.
Palau's GNI, PPP (current international $) is $319,183,865.05, significantly below the average of $730,698,223,823.47, ranking 178th out of 181 countries.
Palau's GNI per capita, PPP (current international $) is $17,760, lower than the average of $20,615.75, ranking 68th out of 181 countries.
Summary
Palau's key macroeconomic indicators, including GDP, GDP per capita, and GNI, consistently rank below global averages, indicating relatively lower economic output and income levels compared to other countries. These statistics are crucial as they highlight Palau's position in the global economy, showcasing areas where the country may need to focus on for economic growth and development to improve its overall competitiveness and prosperity.
Broad Value Added
1. Palau's Gross value added at basic prices (GVA) is significantly below the attribute average, ranking 175th out of 176 countries included in the data.
2. Agriculture, forestry, and fishing value added as a percentage of GDP in Palau is notably lower than the attribute average, placing Palau at 126th out of 182 countries in the dataset.
3. Palau's Agriculture, forestry, and fishing value added in current US dollars is substantially below the average, ranking 181st out of 182 countries.
4. Services value added as a percentage of GDP in Palau is above the attribute average, positioning Palau at the 10th rank out of 183 countries.
5. In terms of Services value added in current US dollars, Palau is significantly below the average, ranking 181st out of 183 countries.
6. Palau's Industry value added in current US dollars is notably lower than the average, placing Palau at the 180th rank out of 183 countries.
Summary
Palau's macroeconomic indicators paint a picture of an economy heavily reliant on services, with significant underperformance in agriculture and industry sectors. The country ranks very low in agriculture, forestry, and fishing value added metrics, as well as in industry value added, both in terms of percentage of GDP and in current US dollars. This overreliance on services, while seeing some success in value added percentage of GDP, could pose risks in terms of economic diversification and sustainability.
Manufacturing Value Added
For Manufacturing, value added (current US$), Palau's value is $2,663,473.46. This is significantly below the average value of $76,207,179,589.66. Palau is ranked 172 out of 173 countries in this attribute.
Regarding Manufacturing, value added (% of GDP), Palau's value is 1.03%, which is notably below the average of 11.90%. Palau holds the 172nd position out of 173 countries in this category.
Summary
Palau's manufacturing sector lags behind compared to the global average, with a significantly lower value added in current US dollars and as a percentage of GDP. This indicates that manufacturing plays a minor role in Palau's economy compared to other countries. Improving the manufacturing sector's contribution could lead to greater economic diversification, job creation, and overall economic growth for Palau.
Money
Palau's consumer price inflation rate is 0.22%, significantly below the average of 8.26%. This places Palau at rank 130 out of 165 countries in the dataset. In contrast, Palau's GDP deflator inflation rate stands at -1.07%, also below the average of 6.90%, ranking Palau at position 156 out of 188 countries.
Summary
Palau demonstrates a low consumer price inflation rate of 0.22%, well below the global average of 8.26%. However, its GDP deflator inflation rate is even lower at -1.07%, further below the average of 6.90%. These indicators suggest that Palau is experiencing mild inflationary pressures, potentially indicating stable prices and economic conditions conducive to investment.
Investment
1. Palau's net foreign direct investment is -\$43,100,000, which is significantly higher than the average of -\$1,615,235,980.50. Palau ranks 50th out of 169 countries in this aspect.
2. In terms of net inflows of foreign direct investment, Palau received \$43,100,000, falling far below the average of \$5,749,271,080.15. Palau ranks 135th out of 182 countries in this category.
3. Palau's net inflows of foreign direct investment as a percentage of GDP stand at 16.71%, which is substantially higher than the average of 2.61%. Palau ranks 7th out of 178 countries, indicating a strong influx relative to its economy.
4. Palau's portfolio investment shows a net of -\$8,216,000, a figure significantly below the average of \$679,559,169.57. Palau ranks 87th out of 159 countries in this metric.
Summary
Palau stands out in terms of net foreign direct investment, ranking 50th globally despite having a significantly higher value than the average. The country also excels in attracting foreign direct investment relative to its GDP, ranking 7th worldwide with a percentage far above the norm. However, Palau performs poorly in portfolio investment, ranking 87th globally with a substantial deficit compared to the average. These indicators are crucial as they showcase Palau's ability to attract long-term investments for economic development but also highlight weaknesses in its short-term financial inflows, emphasizing the need for a balanced investment strategy to ensure sustainable growth.
Broad Trade Attributes
Palau's Merchandise trade accounts for 60.49% of its GDP, slightly above the average of 60.01% among 186 countries. Palau ranks 63rd out of the 186 countries included in the data for this attribute.
Trade in services for Palau represents 39.45% of its GDP, significantly higher than the average of 24.63% among 171 countries. Palau holds the 21st rank out of the 171 countries included in the data for this attribute.
Summary
Palau stands out for having a merchandise trade that accounts for a substantial 60.49% of its GDP, surpassing the global average. Additionally, its trade in services, contributing 39.45% to GDP, is notably higher than the average among countries. These statistics indicate that Palau relies heavily on international trade for economic growth, leveraging both goods and services sectors for its economic development.
Net Trade
Palau's current account balance is -$115,610,000, significantly below the average of $1,443,864,831.49, ranking 77th out of 170 countries.
The current account balance as a percentage of GDP for Palau is -44.83%, much lower than the average of -2.36%, placing it at the 170th rank out of 170 countries.
Palau's net trade in goods and services is -$154,328,000, standing well below the average of $2,604,730,003.57, with a rank of 75 out of 171 countries.
The net primary income for Palau is $6,458,000, deviating significantly from the average of -$903,807,529.74, placing it at the 46th rank out of 170 countries.
Palau's net secondary income is $32,259,000, notably higher than the average of -$269,227,340.40, ranking 114th out of 170 countries.
The net trade in goods for Palau is -$149,744,000, below the average of $1,302,831,005.68, with a rank of 74 out of 171 countries.
Palau's net capital account is $27,390,000, significantly lower than the average of $136,543,824.05, placing it at the 91st rank out of 159 countries.
The net financial account for Palau is -$49,909,000, deviating from the average of -$469,840,994.63, with a rank of 76 out of 170 countries.
Summary
Palau is experiencing significant imbalances in its key macroeconomic indicators, with a current account balance, net trade in goods and services, and net financial account all deviating notably from global averages. These indicators suggest a high dependency on external trade and financial inflows, reflecting potential vulnerabilities in Palau's economy.
Broad Export Attributes
Palau's Exports of goods, services and primary income amount to $73,386,000. This figure is significantly below the average of $146,238,908,936.29, placing Palau at rank 169 out of 170 countries.
The Exports of goods and services in Palau total $52,897,000, which is also notably lower than the average of $122,938,540,059.78. Palau ranks 168 out of 170 countries for this attribute.
Palau's Goods exports stand at $4,315,000, far below the average of $93,310,581,697.39. Palau ranks last, at 170 out of 171 countries, in this category.
Summary
Palau's export performance across goods, services, and primary income falls significantly below global averages, ranking at or near the bottom among countries. This indicates a potential dependence on imports and a limited capacity for generating foreign exchange through exports, which could impact the country's macroeconomic stability and growth prospects.
Merchandise Exports
Palau's Merchandise exports amount to $7,000,000, significantly below the attribute average of $89,542,711,229.95. The country is ranked 187th out of 187 countries included in the data for this attribute.
Summary
Palau's merchandise exports of $7,000,000 are notably lower compared to the average of $89,542,711,229.95 among the countries studied, positioning Palau at the bottom rank of 187. This indicates a considerable gap in export performance between Palau and other nations, highlighting potential challenges in global trade competitiveness and economic growth for Palau.
Service Exports
Palau's service exports amount to $48,581,000, which is significantly below the average of $28,917,292,503. Palau ranks 164th out of 171 countries in this category.
The country's ICT service exports stand at $142,000, well below the average of $4,578,501,153. Palau ranks 163rd out of 166 countries for this statistic.
Palau's ICT service exports as a percentage of total service exports are 0.29%, much lower than the average of 11.75%. The country ranks 163rd out of 166 nations.
For communications, computer, etc. services as a percentage of total service exports, Palau's 9.24% falls below the average of 45.85%. The country ranks 161st out of 169 countries on this metric.
Palau's transport services as a percentage of total service exports make up 5.31%, lower than the average of 21.80%. The country ranks 144th out of 169 countries.
Travel services contribute significantly to Palau's service exports at 83.54%, surpassing the average of 26.40%. This places Palau at 3rd out of 167 countries for travel services.
Insurance and financial services constitute only 1.91% of Palau's service exports, below the average of 6.46%. Palau ranks 113th out of 161 countries in this category.
Summary
Palau's service exports across various sectors such as ICT, communications, computer services, and transport services fall significantly below global averages, ranking the country relatively low among its peers. However, the dominance of travel services in Palau's export portfolio, comprising 83.54%, positions the country exceptionally well in this category. These statistics highlight Palau's heavy reliance on travel services for export revenue, indicating potential vulnerabilities to fluctuations in the tourism industry and the need to diversify the economy to achieve more sustainable growth and resilience against external shocks.
Commercial Service Exports
Palau has a Commercial service exports value of 44595000 USD, which is significantly below the average of 28508218402.797623 USD (rank 163 out of 171 countries).
Regarding Travel services (% of commercial service exports), Palau's value of 91.01% is well above the average of 27.89% (rank 3 out of 167 countries).
Palau's Computer, communications and other services (% of commercial service exports) value of 1.13% is notably below the average of 42.44% (rank 169 out of 169 countries).
For Insurance and financial services (% of commercial service exports), Palau's value of 2.08% is below the average of 6.97% (rank 116 out of 161 countries).
Palau's Transport services (% of commercial service exports) value is 5.79%, which is below the average of 23.37% (rank 144 out of 169 countries).
Summary
Palau demonstrates a unique economic profile in its commercial service exports composition. It excels in offering travel services, with a significantly high percentage compared to the global average. However, it falls behind in computer, communications, and other services, insurance, financial services, and transport services. This indicates Palau's heavy reliance on tourism for revenue generation, highlighting vulnerability to fluctuations in the tourism industry and a potential need for diversification strategies to enhance economic resilience.
Broad Import Attributes
Palau's goods imports amount to $154,060,000, significantly below the average of $92,007,788,027.17. This places Palau at a rank of 168 out of 171 countries in terms of goods imports.
Similarly, Palau's imports of goods and services total $207,224,000, well below the average of $120,321,577,988.12. Palau ranks 167 out of 170 countries in this category.
Furthermore, Palau's imports of goods, services, and primary income stand at $221,255,000, also falling short of the average of $144,514,428,722.28. Palau is ranked 167 out of 170 countries for this metric.
Summary
Palau's low levels of goods imports, imports of goods and services, and imports of goods, services, and primary income indicate a limited integration with the global economy compared to other countries. These statistics suggest that Palau may have challenges in diversifying its economy, accessing a variety of goods and services, and benefiting from international trade opportunities.
Merchandise Imports
Palau's merchandise imports amount to $149,000,000, which is significantly below the average of $89,385,605,263. Palau ranks 186th out of 190 countries in terms of merchandise imports.
When it comes to merchandise imports by the reporting economy, residual (% of total merchandise imports), Palau's value of 7.63% is above the average of 2.51%. This places Palau in 15th position out of 180 countries in this category.
Summary
Palau's merchandise imports are notably low compared to the global average, ranking 186th out of 190 countries. However, in terms of merchandise imports by the reporting economy, Palau's proportion is significantly higher than average, placing it in the 15th position out of 180 countries. These indicators are crucial as they reflect Palau's trade relationships, economic openness, and potential reliance on domestic production.
Service Imports
Service imports (BoP, current US$): Palau's service imports amount to $53,164,000. This is significantly below the average of $27,615,356,170.47, ranking Palau 169th out of 171 countries.
Communications, computer, etc. (% of service imports, BoP): Palau's percentage of service imports allocated to communications, computer, etc. is 21.06%. This is below the average of 44.40%, placing Palau at the 148th rank out of 169 countries.
Transport services (% of service imports, BoP): Palau allocates 41.57% of its service imports to transport services, which is above the average of 32.90%. Palau ranks 45th out of 169 countries for this attribute.
Travel services (% of service imports, BoP): Palau dedicates 29.16% of its service imports to travel services, surpassing the average of 14.14%. This places Palau at the 16th rank out of 169 countries.
Insurance and financial services (% of service imports, BoP): Palau allots 8.22% of its service imports to insurance and financial services, slightly below the average of 8.53%. Palau ranks 73rd out of 169 countries in this aspect.
Summary
Palau's service imports are notably low compared to the global average, with a focus on transport and travel services rather than communications and computer technology. Despite allocating a smaller percentage to insurance and financial services, Palau ranks relatively high in the allocation towards travel services. These findings are crucial as they indicate Palau's reliance on specific service sectors for imports, shedding light on its economic priorities and potential vulnerabilities in the global market.
Commercial Service Imports
Palau's Commercial service imports amount to 50,862,000 USD, significantly below the average of 27,102,746,128.60 USD, ranking 169th out of 171 countries in the dataset.
Computer, communications, and other services contribute 17.49% to Palau's commercial service imports, which is lower than the average of 41.71%. Palau ranks 148th out of 169 countries in this category.
Palau's Insurance and financial services account for 8.59% of its commercial service imports, slightly below the average of 8.85%. Palau ranks 68th out of 169 countries in this aspect.
Transport services make up 43.45% of Palau's commercial service imports, higher than the average of 34.71%. Palau ranks 46th out of 169 countries in this sector.
Travel services constitute 30.48% of Palau's commercial service imports, significantly surpassing the average of 14.73%. Palau ranks 15th out of 169 countries based on this metric.
Summary
Palau's commercial service imports are relatively low compared to the dataset average, with a significant portion coming from travel services, which is well above the average. While the country performs well in the travel services category, it lags behind in computer, communications, and other services. These indicators are crucial as they highlight Palau's reliance on tourism for its commercial service imports and areas that may require further development to diversify its services sector.
Information Technology Infrastructure
Palau has 17 secure internet servers, significantly below the average of 458,294. Palau ranks 183 out of 193 countries in this attribute.
Palau has 945.92 secure internet servers per 1 million people, well below the average of 14,067. Palau ranks 81 out of 193 countries in this attribute.
Palau has 24,000 mobile cellular subscriptions, far below the average of 42,526,464. Palau ranks 189 out of 193 countries in this attribute.
Summary
Palau's low number of secure internet servers and mobile cellular subscriptions, along with its low ranking compared to global averages, indicate a significant digital divide and lack of connectivity infrastructure in the country. This hinders Palau's ability to fully participate in the digital economy, access information, and utilize digital technologies for development and innovation.
Energy Consumption
Palau's renewable energy consumption stands at 0.87%, significantly lower than the attribute average of 32.18%. This places Palau at a rank of 181 out of 191 countries in the dataset.
Regarding CO2 emissions, Palau emits 158.2kt, notably lower than the average of 171895.94kt. Palau ranks 180th out of 188 countries in CO2 emissions within the dataset, showcasing its relatively low carbon footprint compared to other nations.
Summary
Palau's low renewable energy consumption of 0.87% and significantly lower CO2 emissions of 158.2kt compared to global averages are indicators of its sustainability efforts. Despite ranking low in these areas globally, Palau's commitment to reducing carbon emissions and increasing renewable energy adoption is crucial for addressing climate change and preserving the environment for future generations.
Government Balance Sheet
Palau's Net acquisition of financial assets (% of GDP) is 10.82%, significantly higher than the average of 2.44%. This places Palau at rank 4 out of 87 countries with available data for this attribute.
Palau's Net incurrence of liabilities, total (% of GDP) stands at 20.38%, well above the average of 7.43%. This places Palau at rank 3 out of 92 countries with available data for this attribute.
Palau's Reserves and related items (BoP, current US$) amount to $106.32 million, a substantial difference from the average of $1,924,407,186.58. This places Palau at rank 95 out of 171 countries with available data for this attribute.
Summary
Palau demonstrates a unique financial pattern with a high net acquisition of financial assets and significant incurrence of liabilities compared to global averages. While its reserves and related items are comparatively lower, this indicates a strategic approach to managing its financial resources despite lower absolute figures.
These indicators are crucial as they reveal Palau's approach to managing its economic resources, showcasing a focus on investment and leveraging external sources of funds. Palau's higher ranks in net acquisition of financial assets and liabilities demonstrate a proactive stance in financial management, potentially driving economic growth and development in the long term.
Government Revenue
Palau's Revenue, excluding grants (% of GDP) stands at 24.32%, slightly below the average of 27.02%. This places Palau at rank 65 out of 122 countries.
Grants and other revenue (% of revenue) in Palau are high at 63.35%, significantly above the average of 23.54%. Palau ranks 9 out of 108 countries for this attribute.
Taxes on goods and services (% of revenue) for Palau are at 14.15%, below the average of 31.82%. Palau is ranked 111 out of 122 countries in this aspect.
Palau's Taxes on international trade (% of revenue) are 12.34%, higher than the average of 6.24%. Palau ranks 15 out of 101 countries for this attribute.
Other taxes (% of revenue) in Palau stand at 1.36%, below the average of 2.12%. Palau is ranked 47 out of 106 countries in this category.
Taxes on income, profits and capital gains (% of revenue) in Palau are 8.80%, significantly lower than the average of 24.66%. Palau ranks 109 out of 119 countries for this attribute.
Summary
Palau's revenue composition differs from the global average across various categories. While its revenue excluding grants is slightly below the average, grants and other revenue form a significant portion, with taxes on goods and services being notably low. Taxes on international trade are higher than average, but taxes on income, profits, and capital gains are considerably lower. These indicators are crucial as they reflect Palau's sources of income, reliance on grants, taxation structure, and comparative standing against other countries, providing insights into its fiscal health and economic policies.
Taxes
Palau's tax revenue accounts for 18.16% of its GDP, surpassing the average of 16.72%. This places Palau at the 49th rank out of 123 countries in the dataset.
The customs and other import duties in Palau contribute to 32.32% of its tax revenue, significantly higher than the average of 9.01%. Palau holds the impressive 4th rank out of 99 countries.
Palau's taxes on income, profits, and capital gains stand at 24.01% of total taxes, below the average of 38.40%. This places Palau at the 103rd rank out of 120 countries.
Palau's applied tariff rate of 9.6% for all products is higher than the average of 5.21%. Palau ranks 27th out of 153 countries in this aspect.
Summary
Palau stands out in terms of tax revenue as it surpasses the global average, with a significant portion coming from customs duties which are well above the norm. However, Palau relies less on income, profits, and capital gains taxes compared to other countries. Additionally, Palau maintains a relatively high applied tariff rate for all products, indicating a protectionist trade policy.
These statistics are crucial as they provide insights into Palau's fiscal policy, revenue streams, and trade strategies. The high reliance on customs duties could indicate a focus on international trade for revenue generation, while the lower share of income taxes may reflect a different approach to taxing individuals and corporations. The elevated tariff rate suggests a desire to protect domestic industries or generate revenue through import duties, which can impact both domestic businesses and international trade relationships.
Government Expenses
Palau's Expense (% of GDP) is 59.21%, which is above the average of 31.69%. Palau ranks 4 out of 123 countries for this attribute.
Compensation of employees (% of expense) in Palau is 31.03%, slightly above the average of 24.70%. Palau is ranked 42 out of 123 countries.
Palau's Goods and services expense (% of expense) stands at 18.38%, higher than the average of 14.77%. It ranks 33 out of 122 countries in this category.
Interest payments (% of expense) for Palau are notably low at 0.50%, compared to the average of 6.85%, placing Palau at 116 out of 121 countries.
Palau's Other expense (% of expense) is 20.70%, significantly above the average of 8.29%. Palau holds the 7th rank out of 120 countries for this metric.
Subsidies and other transfers (% of expense) in Palau amount to 29.39%, lower than the average of 43.29%. Palau is ranked 88 out of 121 countries for this attribute.
Summary
Palau demonstrates higher-than-average expense levels (% of GDP), particularly notable in goods and services expense and other expenses. However, Palau's interest payments (% of expense) are notably low compared to the average. The country also allocates a smaller percentage towards subsidies and other transfers, showcasing a unique prioritization in its expense distribution.
These findings are important as they provide insights into Palau's fiscal priorities and financial management. The higher expense levels in certain categories may indicate investments in infrastructure or public services, while the lower interest payments suggest favorable borrowing terms or prudent debt management strategies. The allocation towards subsidies and transfers reflects the government's approach to social welfare and support programs.
Top Stats
Ranks in Top Decile For:
| Attribute | Rank/Total |
|---|---|
| Services, value added (% of GDP) | 10/183 |
| Foreign direct investment, net inflows (% of GDP) | 7/178 |
| Travel services (% of service exports, BoP) | 3/167 |
| Travel services (% of commercial service exports) | 3/167 |
| Merchandise imports by the reporting economy, residual (% of total merchandise imports) | 15/180 |
| Travel services (% of service imports, BoP) | 16/169 |
| Travel services (% of commercial service imports) | 15/169 |
| Net acquisition of financial assets (% of GDP) | 4/87 |
| Net incurrence of liabilities, total (% of GDP) | 3/92 |
| Grants and other revenue (% of revenue) | 9/108 |
| Customs and other import duties (% of tax revenue) | 4/99 |
| Expense (% of GDP) | 4/123 |
| Other expense (% of expense) | 7/120 |
Ranks in Bottom Decile For:
| Attribute | Rank/Total |
|---|---|
| Population, total | 192/194 |
| Population ages 0-14, total | 193/194 |
| Population ages 15-64, total | 192/194 |
| Population ages 65 and above, total | 192/194 |
| Rural population | 189/190 |
| Urban population | 191/194 |
| Fertility rate, total (births per woman) | 189/190 |
| Land area (sq. km) | 179/194 |
| Surface area (sq. km) | 179/194 |
| Arable land (hectares) | 189/190 |
| Capture fisheries production (metric tons) | 173/190 |
| Total fisheries production (metric tons) | 177/182 |
| Fertilizer consumption (kilograms per hectare of arable land) | 182/187 |
| Scientific and technical journal articles | 184/192 |
| GDP (current US$) | 185/189 |
| GDP, PPP (current international $) | 177/181 |
| GNI (current US$) | 183/185 |
| GNI, PPP (current international $) | 178/181 |
| Gross value added at basic prices (GVA) (current US$) | 175/176 |
| Agriculture, forestry, and fishing, value added (current US$) | 181/182 |
| Services, value added (current US$) | 181/183 |
| Industry (including construction), value added (current US$) | 180/183 |
| Manufacturing, value added (current US$) | 172/173 |
| Manufacturing, value added (% of GDP) | 172/173 |
| Current account balance (% of GDP) | 170/170 |
| Exports of goods, services and primary income (BoP, current US$) | 169/170 |
| Exports of goods and services (BoP, current US$) | 168/170 |
| Goods exports (BoP, current US$) | 170/171 |
| Merchandise exports (current US$) | 187/187 |
| Service exports (BoP, current US$) | 164/171 |
| ICT service exports (BoP, current US$) | 163/166 |
| ICT service exports (% of service exports, BoP) | 163/166 |
| Communications, computer, etc. (% of service exports, BoP) | 161/169 |
| Commercial service exports (current US$) | 163/171 |
| Computer, communications and other services (% of commercial service exports) | 169/169 |
| Goods imports (BoP, current US$) | 168/171 |
| Imports of goods and services (BoP, current US$) | 167/170 |
| Imports of goods, services and primary income (BoP, current US$) | 167/170 |
| Merchandise imports (current US$) | 186/190 |
| Service imports (BoP, current US$) | 169/171 |
| Commercial service imports (current US$) | 169/171 |
| Secure Internet servers | 183/193 |
| Mobile cellular subscriptions | 189/193 |
| Renewable energy consumption (% of total final energy consumption) | 181/191 |
| CO2 emissions (kt) | 180/188 |
| Taxes on goods and services (% of revenue) | 111/122 |
| Taxes on income, profits and capital gains (% of revenue) | 109/119 |
| Interest payments (% of expense) | 116/121 |