Page last updated on February 5, 2013
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. 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.
GDP (purchasing power parity):
$786 million (2012 est.)
country comparison to the world: 211
$775.4 million (2011 est.)
$765 million (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP country ranks ]
GDP (official exchange rate):
$476 million (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
GDP - real growth rate:
1.4% (2012 est.)
country comparison to the world: 153
1.5% (2011 est.)
1.6% (2010 est.)
[see also:
GDP - real growth rate country ranks ]
GDP - per capita:
$7,500 (2012 est.)
country comparison to the world: 135
$7,500 (2011 est.)
$7,400 (2010 est.)
note:
data are in 2012 US dollars
[see also:
GDP - per capita country ranks ]
GDP - composition by sector:
agriculture: 20.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
16.6%
services:
62.5% (2012 est.)
Labor force:
39,960 (2007)
country comparison to the world: 196
[see also: Labor force country ranks ]
Labor force - by occupation:
agriculture: 31.8%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
30.6%
services:
2,003% (2003 est.)
Unemployment rate:
13% (FY03/04 est.)
country comparison to the world: 133
[see also: Unemployment rate country ranks ]
Population below poverty line:
24% (FY03/04)
[see also: Population below poverty line country ranks ]
Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
Budget:
revenues: $115.1 million
[see also: Budget revenues country ranks ]
expenditures:
$115.1 million (2012 est.)
Taxes and other revenues:
24.2% of GDP (2012 est.)
country comparison to the world: 131
[see also: Taxes and other revenues country ranks ]
Budget surplus (+) or deficit (-):
0% of GDP (2012 est.)
country comparison to the world: 43
[see also: Budget surplus (+) or deficit (-) country ranks ]
Inflation rate (consumer prices):
4.5% (2012 est.)
country comparison to the world: 126
6.6% (2011 est.)
[see also:
Inflation rate (consumer prices) country ranks ]
Commercial bank prime lending rate:
11.9% (31 December 2012 est.)
country comparison to the world: 73
11.21% (31 December 2011 est.)
[see also:
Commercial bank prime lending rate country ranks ]
Stock of narrow money:
$67.82 million (31 December 2012 est.)
country comparison to the world: 185
$66.57 million (31 December 2011 est.)
[see also:
Stock of narrow money country ranks ]
Stock of broad money:
$169.2 million (31 December 2012 est.)
country comparison to the world: 187
$177.3 million (31 December 2011 est.)
[see also:
Stock of broad money country ranks ]
Stock of domestic credit:
$164.2 million (31 December 2012 est.)
country comparison to the world: 183
$173.8 million (31 December 2011 est.)
[see also:
Stock of domestic credit country ranks ]
Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]
Agriculture - products:
squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish
Industries:
tourism, construction, fishing
Industrial production growth rate:
1% (2003 est.)
country comparison to the world: 138
[see also: Industrial production growth rate country ranks ]
Current account balance:
-$48.1 million (2012 est.)
country comparison to the world: 63
-$29.8 million (2011 est.)
[see also:
Current account balance country ranks ]
Exports:
$11.4 million (2012 est.)
country comparison to the world: 214
$10.8 million (2011 est.)
[see also:
Exports country ranks ]
Exports - commodities:
squash, fish, vanilla beans, root crops
Exports - partners:
Hong Kong 19.9%, Japan 14.3%, US 10.6%, South Korea 10.1%, Fiji 8.9%, NZ 8.6%, Samoa 7.5%, Brazil 5.3%, American Samoa 4.7% (2011)
Imports:
$124.2 million (2012 est.)
country comparison to the world: 209
$121.1 million (2011 est.)
[see also:
Imports country ranks ]
Imports - commodities:
foodstuffs, machinery and transport equipment, fuels, chemicals
Imports - partners:
Fiji 36.7%, NZ 24.9%, US 10.5%, China 7.2% (2011)
Reserves of foreign exchange and gold:
$118.3 million (31 December 2012 est.)
country comparison to the world: 161
$143.3 million (31 December 2011 est.)
[see also:
Reserves of foreign exchange and gold country ranks ]
Debt - external:
$118.6 million (31 December 2012 est.)
country comparison to the world: 189
$113.5 million (31 December 2011 est.)
[see also:
Debt - external country ranks ]
Exchange rates:
pa'anga (TOP) per US dollar -
1.737 (2012 est.)
1.729 (2011 est.)
1.906 (2010 est.)
Fiscal year:
1 July - 30 June
NOTE: The information regarding Tonga on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 2013 information contained here. All suggestions for corrections of any errors about Tonga Economy 2013 should be addressed to the CIA.
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