The Gross Domestic Product (GDP) compilation for Tuvalu for the year 2024 was undertaken with the support of a technical assistance (TA) mission from the PFTAC. The mission was conducted from 22nd to 30th May 2025 by Mr. Michael Andrews, assisted the Tuvalu Central Statistics Division in updating and compiling national accounts estimates in both current and constant 2016 prices.
Tuvalu’s Gross Domestic Product (GDP) increased by 3.1 percent in real terms in 2024, marking the second consecutive year of economic recovery following the pandemic-induced downturn between 2020 and 2022.
Although output has surpassed A$60.7 million at constant 2016 prices, the economy remains below its pre-COVID-19 peak of A$66.1 million recorded in 2019. Growth in 2024 was mainly driven by Construction (+32%), Hotels and Restaurants (+172%), and Trade (+19%), while Public Administration and Agriculture recorded moderate declines.
The Tuvalu economy continues to be largely public-sector-driven, with government and state-owned enterprises (SOEs) accounting for about half of total GDP. Private sector activity remains limited but is gradually expanding, particularly in construction, tourism, and other services.
Real GDP Trends
Figure 1 and 2 below illustrates the trend of Real GDP at constant 2016 prices and growth for the years from 2016 to 2024.
Sectoral Performance (at Constant 2016 prices)
| Sector | Share of Real GDP (2024) | 2024 Growth Rate | Key Observations |
| Primary (Agriculture, Forestry, Fishing) | 7.4 % | -6.3 % | Output declined, mainly due to reduced fishing activity and high operational costs. |
| Industrial (Manufacturing, Electricity, Construction) | 10.7 % | +22.6 % | Strong recovery led by construction projects and infrastructure works. |
| Services (Trade, Transport, Admin, Education, Health, etc) | 74.6 % | +2.5 % | Stable performance; trade and hospitality improved as travel resumed. |
| Net Taxes | 7.2 % | -8.3 % | Decline in import duties offset by reduced subsidies. |
For more information, please click the button below to download the Tuvalu GDP Report 2024 and GDP Tables.