| People | 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, and 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. 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):
|
$877 million (2006 est.) |
GDP (official exchange rate):
|
$219 million (2007 est.) |
GDP - real growth rate:
|
-3.5% (2007 est.) |
GDP - per capita (PPP):
|
$2,200 (2005 est.) |
GDP - composition by sector:
|
agriculture: 25%
industry: 17%
services: 57% (FY05/06 est.) |
Investment (gross fixed):
|
void |
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):
|
11.1% (2005 est.) |
Labor force:
|
33,910 (2003) |
Labor force participation rate:
|
28.49 % of population |
Labor force - by occupation:
|
agriculture: 65%
industry and services: 35% (1997 est.) |
Unemployment rate:
|
13% (FY03/04 est.) |
Budget:
|
revenues: $80.48 million
expenditures: $109.8 million (FY07/08) |
Budget revenues per capita:
|
677 USD per capita |
Public debt:
|
void |
Industries:
|
tourism, construction, fishing |
Industrial production growth rate:
|
1% (2003 est.) |
Electricity - production:
|
54 million kWh (2006) |
Electricity - production per capita:
|
454 kWh per capita |
Electricity - consumption:
|
47 million kWh (2006) |
Electricity - consumption - per capita:
|
395 kWh per capita |
Electricity - exports:
|
0 kWh (2005) |
Electricity - imports:
|
0 kWh (2005) |
Oil - production:
|
0 bbl/day (2007 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
880 bbl/day (2005 est.) |
Oil - consumption - per capita:
|
2.70 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2007 est.) |
Oil - imports:
|
842.3 bbl/day (2004) |
Oil - proved reserves:
|
0 bbl (1 January 2007 est.) |
Natural gas - production:
|
0 cu m (2007 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2007 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2007 est.) |
Natural gas - imports:
|
0 cu m (2007) |
Natural gas - proved reserves:
|
0 cu m (1 January 2007 est.) |
Agriculture - products:
|
squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish |
Current account balance:
|
-$25.2 million (FY06/07) |
Current account balance - per capita:
|
-211 USD per capita |
Exports:
|
$22 million f.o.b. (2006) |
Exports per capita:
|
185 USD per capita |
Exports - commodities:
|
squash, fish, vanilla beans, root crops |
Exports - partners:
|
US 39.7%, Japan 27.8%, NZ 8.2%, South Korea 7.6% (2006) |
Imports:
|
$139 million f.o.b. (2006) |
Imports per capita:
|
1,168 USD per capita |
Imports - commodities:
|
foodstuffs, machinery and transport equipment, fuels, chemicals |
Imports - partners:
|
Fiji 30.3%, NZ 27.7%, US 8.2%, Australia 7.5%, France 5.7%, UK 4.7% (2006) |
Reserves of foreign exchange and gold:
|
$40.83 million (yearend, FY04/05) |
Reserves of foreign exchange and gold - per capita:
|
344 USD per capita |
Debt - external:
|
$80.7 million (2004) |
Debt - external - per capita:
|
679 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Market value of publicly traded shares:
|
$NA |
Economic aid - donor:
|
void |
Economic aid - recipient:
|
$31.75 million (2005) |
Economic aid - recipient per capita:
|
267 USD per capita |
Currency (code):
|
pa'anga (TOP) |
Exchange rates:
|
pa'anga per US dollar - NA (2007), 2.0277 (2006), 1.96 (2005), 1.9716 (2004), 2.142 (2003) |
Fiscal year:
|
1 July - 30 June |
|
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