Tonga:
Economy

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Other pages in this profile of Tonga:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $526 million (2007 est.)
GDP (official exchange rate)	Definition $219 million (2007 est.)
GDP - real growth rate	Definition - World rank and map -3.5% (2007 est.)
GDP - per capita	Definition - World rank and map $5,100 (2007 est.)
GDP - composition by sector	Definition agriculture: 25% industry: 17% services: 57% (FY05/06 est.)
Labor force	Definition 33,910 (2003)
Labor force - by occupation	Definition agriculture: 65% industry and services: 35% (1997 est.)
Unemployment rate	Definition - World rank and map 13% (FY03/04 est.)
Population below poverty line	Definition 24% (FY03/04)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 5.9% (2007 est.)
Budget	Definition revenues: $80.48 million expenditures: $109.8 million (FY07/08)
Agriculture - products	Definition squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish
Industries	Definition tourism, construction, fishing
Industrial production growth rate	Definition - World rank and map 1% (2003 est.)
Electricity - production	Definition - World rank and map 54 million kWh (2006)
Electricity - consumption	Definition - World rank and map 47 million kWh (2006)
Electricity - consumption per capita	Definition - World rank and map 395 kWh (2006)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2007 est.)
Oil - consumption	Definition - World rank and map 880 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 7.4 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2007 est.)
Oil - imports	Definition - World rank and map 842.3 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2007 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2007 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2007 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2007 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2007 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2007)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2007 est.)
Current account balance	Definition - World rank and map -$23 million (FY06/07)
Exports	Definition - World rank and map $22 million f.o.b. (2006)
Exports - commodities	Definition squash, fish, vanilla beans, root crops
Exports - partners	Definition US 34.4%, Japan 20.3%, South Korea 10.5%, NZ 9.5%, Fiji 5.5%, Samoa 4.6% (2006)
Imports	Definition - World rank and map $139 million f.o.b. (2006)
Imports - commodities	Definition foodstuffs, machinery and transport equipment, fuels, chemicals
Imports - partners	Definition Fiji 33.1%, NZ 28%, US 9.2%, Australia 7.8%, China 4.8% (2006)
Reserves of foreign exchange and gold	Definition - World rank and map $40.83 million (yearend)
Debt - external	Definition - World rank and map $80.7 million (2004)
Market value of publicly traded shares	Definition $NA
Economic aid - recipient	Definition $31.75 million (2005)
Currency (code)	Definition pa'anga (TOP)
Exchange rates	Definition pa'anga per US dollar - NA (2007), 2.0277 (2006), 1.96 (2005), 1.9716 (2004), 2.142 (2003)
Fiscal year	Definition 1 July - 30 June

Tonga: Economy

Tonga:
Economy