Marshall Islands is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Marshall Islands may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Marshall Islands exports around $0.05 billion and imports roughly $0.12 billion. 3.2% of population in the country are unemployed. The total number of unemployed people in Marshall Islands is 1,701. In Marshall Islands, 30% of the population lives below the poverty line. The percentage of citizens living below the poverty line in Marshall Islands is fairly high, but is not reason for complete concern with regard to investments. Potential financial backers should look at other economic markers, including GDP, urbanization rate, and strength of currency, before making any decisions regarding investments. Government expenditure on education is 15% of GDP. The Gini Index of the country is 40.8. Marshall Islands is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable. The strength of legal rights index for Marshall Islands is 10. Overall, it is considered to be rather strong - bancrupcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible.
Currency
The currency of Marshall Islands is United States dollar. The United States dollar is one of the most significant currencies in the world, and is used in several territories besides The United States including Puerto Rico, Guam, and The US Virgin Islands. The United States dollar is a stable currency that can be relied upon for investment opportunities. The plural form of the word United States dollar is dollars. The symbol used for this currency is $, and it is abbreviated as USD. The United States dollar is divided into Cent; there are 100 in one dollar.
Marshall Islands has a government debt of 76.5% of the country's Gross Domestic Product (GDP), as assessed in 2012.
Tax information
Personal income tax ranges from 0% to 12%, depending on your specific situation and income level. VAT in Marshall Islands is 4%.
Finances
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Marshall Islands is $182 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Marshall Islands was last recorded at $3 million. PPP in Marshall Islands is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Marshall Islands is 0 billion. Based on this statistic, Marshall Islands is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Marshall Islands was last recorded at $0 million. The average citizen in Marshall Islands has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Marshall Islands averaged 3.2% in 2014. According to this percentage, Marshall Islands is currently experiencing modest growth
