Wallis and Futuna: Economy#

The economy is limited to traditional subsistence agriculture, with 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.

Economic Facts#

GDP (purchasing power parity)$60 million (2004 est.)
GDP - real growth rateNA%
GDP - per capita (PPP)$3,800 (2004 est.)
GDP - composition, by sector of originagriculture: NA%
industry: NA%
services: NA%
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 80%
industry: 4%
services: 16% (2001 est.)
Exports - commoditiescopra, chemicals, construction materials
Agriculture - productscoconuts, breadfruit, yams, taro, bananas; pigs, goats; fish
Budgetrevenues: $29,730
expenditures: $31,330 (2004)
Imports - commoditieschemicals, machinery, consumer goods
Exchange ratesComptoirs Francais du Pacifique francs (XPF) per US dollar -
90.01 (February 2012)
87.59 (2007)
Exports$47,450 (2004)
Debt - external$3.67 million (2004)
Fiscal yearcalendar year
Imports$61.17 million (2004)
Industrial production growth rateNA%
Industriescopra, handicrafts, fishing, lumber
Inflation rate (consumer prices)2.8% (2005)
Labor force3,104 (2003)
Unemployment rate12.2% (2008)
Public debt5.6% of GDP (2004 est.)
note: offical data; data cover general government debt, and includes debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intra-governmental debt; intra-governmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
GDP (official exchange rate)$NA