Overview: The economy's base is agriculture, which employs about 70% of the labor force and contributes 50% to GDP. Coconuts, bananas, and vanilla beans are the main crops and make up two-thirds of exports. The country must import a high proportion of its food, mainly from New Zealand. The manufacturing sector accounts for only 10% of GDP. Tourism is the primary source of hard currency earnings, but the island remains dependent on sizable external aid and remittances to sustain its trade deficit.

GDP: $86 million, per capita $850; real growth rate 3.6% (FY89 est.)

Inflation rate (consumer prices): 8.2% (FY87)

Unemployment rate: NA%

Budget: revenues $54.8 million; expenditures $56.2 million, including capital expenditures of $16.9 million (FY88 est.)

Exports: $9.1 million (f.o.b., FY88 est.); commodities--coconut oil, desiccated coconut, copra, bananas, taro, vanilla beans, fruits, vegetables, fish; partners--NZ 54%, Australia 30%, US 8%, Fiji 5% (FY87)

Imports: $60.1 million (c.i.f., FY88 est.); commodities--food products, beverages and tobacco, fuels, machinery and transport equipment, chemicals, building materials; partners--NZ 39%, Australia 25%, Japan 9%, US 6%, EC 5% (FY87)

External debt: $31.8 million (1987)

Industrial production: growth rate 15% (FY86)

Electricity: 5,000 kW capacity; 8 million kWh produced, 80 kWh per capita (1989)

Industries: tourism, fishing

Agriculture: dominated by coconut, copra, and banana production; vanilla beans, cocoa, coffee, ginger, black pepper

Aid: US commitments, including Ex-Im (FY70-87), $15 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $220 million

Currency: pa'anga (plural--pa'anga); 1 pa'anga (T$) = 100 seniti

Exchange rates: pa'anga (T$) per US$1--1.23 (FY89 est.), 1.37 (FY88), 1.51 (FY87), 1.43 (FY86), 1.30 (FY85)

Fiscal year: 1 July-30 June

NOTE: The information regarding Tonga on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 1990 information contained here. All suggestions for corrections of any errors about Tonga Economy 1990 should be addressed to the CIA.