unbekannter Gast

Tonga: Economy#

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, moderate inflation, pressures for democratic reform, and rising civil service expenditures are major issues facing the government.

Economic Facts#

GDP (purchasing power parity)$846 million (2013 est.)
$837.3 million (2012 est.)
$831.3 million (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate1% (2013 est.)
0.7% (2012 est.)
1.9% (2011 est.)
GDP - per capita (PPP)$8,200 (2013 est.)
$8,100 (2012 est.)
$8,100 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 20.9%
industry: 21.9%
services: 57.2% (2013 est.)
Population below poverty line24% (FY03/04)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 31.8%
industry: 30.6%
services: 2,003% (2003 est.)
Exports - commoditiessquash, fish, vanilla beans, root crops
Exports - partnersSouth Korea 18.5%, US 17%, NZ 15.6%, Fiji 10.2%, Japan 9.5%, Samoa 8.6%, American Samoa 5.4%, Australia 5.1% (2012)
Agriculture - productssquash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish
Budgetrevenues: $112.4 million
expenditures: $112.4 million (2013 est.)
Imports - commoditiesfoodstuffs, machinery and transport equipment, fuels, chemicals
Imports - partnersFiji 35.7%, NZ 24.4%, US 10.5%, China 10.2% (2012)
Exchange ratespa'anga (TOP) per US dollar -
1.78 (2013 est.)
1.72 (2012 est.)
1.906 (2010 est.)
Exports$9.1 million (2013 est.)
$8.4 million (2012 est.)
Debt - external$215.8 million (31 December 2013 est.)
$198.6 million (31 December 2012 est.)
Fiscal year1 July - 30 June
Imports$122.5 million (2013 est.)
$121.9 million (2012 est.)
Industrial production growth rate1% (2013 est.)
Industriestourism, construction, fishing
Inflation rate (consumer prices)2% (2013 est.)
1.2% (2012 est.)
Labor force39,960 (2007)
Unemployment rate13% (FY03/04 est.)
Current account balance-$43.3 million (2013 est.)
-$48.5 million (2012 est.)
Reserves of foreign exchange and gold$147.1 million (31 December 2013 est.)
$152.4 million (31 December 2012 est.)
GDP (official exchange rate)$477 million (2013 est.)
Stock of direct foreign investment - at home$61.39 million (31 December 2013 est.)
$61.43 million (31 December 2012 est.)
Market value of publicly traded shares$NA
Commercial bank prime lending rate10.9% (31 December 2013 est.)
10.36% (31 December 2012 est.)
Stock of domestic credit$110 million (31 December 2013 est.)
$125.5 million (31 December 2012 est.)
Stock of narrow money$85.97 million (31 December 2013 est.)
$81.03 million (31 December 2012 est.)
Stock of broad money$178.8 million (31 December 2013 est.)
$186.6 million (31 December 2012 est.)
Taxes and other revenues23.6% of GDP (2012 est.)
Budget surplus (+) or deficit (-)0% of GDP (2012 est.)
GDP - composition, by end usehousehold consumption: 95.9%
government consumption: 17.2%
investment in fixed capital: 29.9%
investment in inventories: 0%
exports of goods and services: 18.8%
imports of goods and services: -61.8%
(2013 est.)