Tokelau Economy - 2004

Economy - overview:
Tokelau's small size (three villages), isolation, and lack of resources greatly restrain economic development and confine agriculture to the subsistence level. The people rely heavily on aid from New Zealand - about $4 million annually - to maintain public services, with annual aid being substantially greater than GDP. The principal sources of revenue come from sales of copra, postage stamps, souvenir coins, and handicrafts. Money is also remitted to families from relatives in New Zealand.

GDP:
purchasing power parity - $1.5 million (1993 est.)

GDP - real growth rate:
NA%

GDP - per capita:
purchasing power parity - $1,000 (1993 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line:
NA% (2002 est.)

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
NA%

Labor force:
NA

Unemployment rate:
NA%

Budget:
revenues: $430,830
expenditures: $2.8 million, including capital expenditures of $37,300 (1987 est.)

Industries:
small-scale enterprises for copra production, woodworking, plaited craft goods; stamps, coins; fishing

Industrial production growth rate:
NA%

Electricity - production:
NA kWh

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%

Electricity - consumption:
NA kWh

Agriculture - products:
coconuts, copra, breadfruit, papayas, bananas; pigs, poultry, goats

Exports:
$98,000 f.o.b. (1983)

Exports - commodities:
stamps, copra, handicrafts

Exports - partners:
NZ (2000)

Imports:
$323,000 c.i.f. (1983)

Imports - commodities:
foodstuffs, building materials, fuel

Imports - partners:
NZ (2000)

Debt - external:
$0

Economic aid - recipient:
from New Zealand about $4 million annually

Currency:
New Zealand dollar (NZD)

Currency code:
NZD

Exchange rates:
New Zealand dollars per US dollar - 1.7229 (2003), 2.154 (2002), 2.3776 (2001), 2.1863 (2000), 1.8886 (1999)