Marshall Islands Business Environment

Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.

Insurance and financial services cover various types of insurance provided to nonresidents by resident insurance enterprises and vice versa, and financial intermediary and auxiliary services (except those of insurance enterprises and pension funds) exchanged between residents and nonresidents. This indicator is expressed as a percentage of service imports which are services provided by non-residents to residents.

The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the calendar year.

Number of female business owners is the number of female individuals that own at least one share of a limited liability company that was newly registered in the calendar year.

Share of female business is the proportion of female newly registered limited liability company owners out of the total number of newly registered limited liability company owners in the economy in the calendar year.

Number of male business owners is the number of male individuals that own at least one share of a limited liability company that was newly registered in the calendar year.

Share of male business is the proportion of male newly registered limited liability company owners out of the total number of newly registered limited liability company owners in the economy in the calendar year.

Number of female sole proprietors is the number of newly registered sole proprietors owned by female individuals in the calendar year. A sole proprietorship is a business entity owned and managed by a single individual who is indistinguishable from the business and personally liable.

Share of female sole proprietors is the proportion of female newly registered sole proprietors out of the total number of newly registered sole proprietors in the economy in the calendar year. A sole proprietorship is a business entity owned and managed by a single individual who is indistinguishable from the business and personally liable.

Number of male sole proprietors is the number of newly registered sole proprietors owned by female individuals in the calendar year. A sole proprietorship is a business entity owned and managed by a single individual who is indistinguishable from the business and personally liable.

Share of male sole proprietors is the proportion of male newly registered sole proprietors out of the total number of newly registered sole proprietors in the economy in the calendar year. A sole proprietorship is a business entity owned and managed by a single individual who is indistinguishable from the business and personally liable.

International inbound tourists (overnight visitors) are the number of tourists who travel to a country other than that in which they have their usual residence, but outside their usual environment, for a period not exceeding 12 months and whose main purpose in visiting is other than an activity remunerated from within the country visited. When data on number of tourists are not available, the number of visitors, which includes tourists, same-day visitors, cruise passengers, and crew members, is shown instead. Sources and collection methods for arrivals differ across countries. In some cases data are from border statistics (police, immigration, and the like) and supplemented by border surveys. In other cases data are from tourism accommodation establishments. For some countries number of arrivals is limited to arrivals by air and for others to arrivals staying in hotels. Some countries include arrivals of nationals residing abroad while others do not. Caution should thus be used in comparing arrivals across countries. The data on inbound tourists refer to the number of arrivals, not to the number of people traveling. Thus a person who makes several trips to a country during a given period is counted each time as a new arrival.

International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include receipts for passenger transport items. Data are in current U.S. dollars.

International tourism receipts are expenditures by international inbound visitors, including payments to national carriers for international transport. These receipts include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except when these are important enough to justify separate classification. For some countries they do not include receipts for passenger transport items. Their share in exports is calculated as a ratio to exports of goods and services, which comprise all transactions between residents of a country and the rest of the world involving a change of ownership from residents to nonresidents of general merchandise, goods sent for processing and repairs, nonmonetary gold, and services.

International tourism receipts for passenger transport items are expenditures by international inbound visitors for all services provided in the international transportation by resident carriers. Also included are passenger services performed within an economy by nonresident carriers. Excluded are passenger services provided to nonresidents by resident carriers within the resident economies; these are included in travel items. In addition to the services covered by passenger fares--including fares that are a part of package tours but excluding cruise fares, which are included in travel--passenger services include such items as charges for excess baggage, vehicles, or other personal accompanying effects and expenditures for food, drink, or other items for which passengers make expenditures while on board carriers. Data are in current U.S. dollars.

International tourism expenditures for passenger transport items are expenditures of international outbound visitors in other countries for all services provided during international transportation by nonresident carriers. Also included are passenger services performed within an economy by nonresident carriers. Excluded are passenger services provided to nonresidents by resident carriers within the resident economies; these are included in travel items. In addition to the services covered by passenger fares--including fares that are a part of package tours but excluding cruise fares, which are included in travel--passenger services include such items as charges for excess baggage, vehicles, or other personal accompanying effects and expenditures for food, drink, or other items for which passengers make expenditures while on board carriers. Data are in current U.S. dollars.

International tourism receipts for travel items are expenditures by international inbound visitors in the reporting economy. The goods and services are purchased by, or on behalf of, the traveler or provided, without a quid pro quo, for the traveler to use or give away. These receipts should include any other prepayment made for goods or services received in the destination country. They also may include receipts from same-day visitors, except in cases where these are so important as to justify a separate classification. Excluded is the international carriage of travelers, which is covered in passenger travel items. Data are in current U.S. dollars.

International tourism expenditures are expenditures of international outbound visitors in other countries. The goods and services are purchased by, or on behalf of, the traveler or provided, without a quid pro quo, for the traveler to use or give away. These may include expenditures by residents traveling abroad as same-day visitors, except in cases where these are so important as to justify a separate classification. Excluded is the international carriage of travelers, which is covered in passenger travel items. Data are in current U.S. dollars.

International tourism expenditures are expenditures of international outbound visitors in other countries, including payments to foreign carriers for international transport. These expenditures may include those by residents traveling abroad as same-day visitors, except in cases where these are important enough to justify separate classification. For some countries they do not include expenditures for passenger transport items. Data are in current U.S. dollars.