IMF Article IV for Republic of Marshall Islands 2021

The economy of the Marshall Islands was performing well prior to the COVID-19 outbreak, but the pandemic and containment measures have strained the economy. Real GDP is estimated to have increased by around 6.5 percent in FY2019 (October 1-September 30), driven by strong fishery and construction activities. The COVID-19 travel restrictions have significantly impacted fisheries, construction, transportation, and tourism related activities. Economic activity is expected to continue declining in FY2021 and rebound only in FY2022.