| Economy | Tonga |
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Economy - overview:
|
Tonga has a small, open, South Pacific island economy. It has a narrow export base in agricultural goods. Squash, vanilla beans, and yams are the main crops. Agricultural exports, including fish, make up two-thirds of total exports. The country must import a high proportion of its food, mainly from New Zealand. The country remains dependent on external aid and remittances from Tongan communities overseas to offset its trade deficit. Tourism is the second-largest source of hard currency earnings following remittances. Tonga had 39,000 visitors in 2006. The government is emphasizing the development of the private sector, especially the encouragement of investment, and is committing increased funds for health and education. Tonga has a reasonably sound basic infrastructure and well developed social services. High unemployment among the young, a continuing upturn in inflation, pressures for democratic reform, and rising civil service expenditures are major issues facing the government. |
GDP (purchasing power parity):
|
$816 million (2011 est.)
$816 million (2010 est.)
$816 million (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$7,500 (2011 est.)
$7,400 (2010 est.)
$7,400 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$400 million (2011 est.) |
GDP - real growth rate:
|
1.4% (2011 est.)
0.3% (2010 est.)
-0.3% (2009 est.) |
GDP - composition by sector:
|
agriculture: 20.8%
industry: 18.1%
services: 61.1% (2011 est.) |
Investment (gross fixed):
|
26.4% of GDP (2011 est.) |
Population below poverty line:
|
24% (FY03/04) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
8.4% (2011 est.)
3.6% (2010 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
11.8% (31 December 2011 est.)
11.53% (31 December 2010 est.) |
Stock of money:
|
$36.16 million (31 December 2008)
$46.38 million (31 December 2007) |
Stock of money - per capita:
|
342 USD per capita |
Stock of quasi money:
|
$100.7 million (31 December 2008)
$106.8 million (31 December 2007) |
Stock of quasi money - per capita:
|
951 USD per capita |
Stock of domestic credit:
|
$166.7 million (31 December 2011 est.)
$165.8 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
1,574 USD per capita |
Stock of narrow money:
|
$48.96 million (31 December 2011 est.)
$54.37 million (31 December 2010 est.) |
Stock of broad money:
|
$172.7 million (31 December 2011 est.)
$171.8 million (31 December 2010 est.) |
Labor force:
|
39,960 (2007) |
Labor force participation rate:
|
37.73 % of population |
Labor force - by occupation:
|
agriculture: 31.8%
industry: 30.6%
services: 2,003% (2003 est.) |
Unemployment rate:
|
13% (FY03/04 est.) |
Unemployment, youth ages 15-24:
|
total: 11.9%
male: 9.9%
female: 15.1% (2003) |
Budget:
|
revenues: $109.5 million
expenditures: $109.5 million (2011 est.) |
Budget revenues per capita:
|
1,034 USD per capita |
Taxes and other revenues:
|
27.4% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
0% of GDP (2011 est.) |
Public debt:
|
void |
Industries:
|
tourism, construction, fishing |
Industrial production growth rate:
|
1% (2003 est.) |
Electricity - production:
|
40 million kWh (2008 est.) |
Electricity - production per capita:
|
378 kWh per capita |
Electricity - consumption:
|
37.2 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
352 kWh per capita |
Electricity - exports:
|
0 kWh (2009) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
1,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
3.45 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
1,202 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2010 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish |
Current account balance:
|
-$23 million (2007 est.) |
Current account balance - per capita:
|
-217 USD per capita |
Exports:
|
$22 million (2006) |
Exports per capita:
|
208 USD per capita |
Exports - commodities:
|
squash, fish, vanilla beans, root crops |
Exports - partners:
|
Hong Kong 26.8%, US 17.9%, Fiji 10.7%, Samoa 9%, NZ 7.9%, Japan 6.1%, American Samoa 5.7% (2010) |
Imports:
|
$139 million (2006) |
Imports per capita:
|
1,313 USD per capita |
Imports - commodities:
|
foodstuffs, machinery and transport equipment, fuels, chemicals |
Imports - partners:
|
Fiji 31.6%, NZ 22.3%, Japan 11%, US 10.8%, Australia 5.6%, China 5.1% (2010) |
Reserves of foreign exchange and gold:
|
$40.83 million (FY04/05) |
Reserves of foreign exchange and gold - per capita:
|
386 USD per capita |
Debt - external:
|
$104.5 million (31 December 2009 est.)
$80.7 million (2004) |
Debt - external - per capita:
|
987 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
pa'anga (TOP) |
Exchange rates:
|
pa'anga (TOP) per US dollar -
1.826 (2011)
1.91 |
Fiscal year:
|
1 July - 30 June |
|
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