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Tonga Economy 2012

SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES











Tonga Economy 2012
SOURCE: 2012 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 8,

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, a continuing upturn in inflation, pressures for democratic reform, and rising civil service expenditures are major issues facing the government.

GDP (purchasing power parity):
$816 million (2011 est.)
country comparison to the world: 207

$816 million (2010 est.)
$816 million (2009 est.)
note: data are in 2011 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$400 million (2011 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.4% (2011 est.)
country comparison to the world: 178

0.3% (2010 est.)
-0.3% (2009 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$7,500 (2011 est.)
country comparison to the world: 128

$7,400 (2010 est.)
$7,400 (2009 est.)
note: data are in 2011 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 20.8%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 18.1%
[see also: GDP - composition by sector - industry country ranks ]
services: 61.1% (2011 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
39,960 (2007)
country comparison to the world: 194
[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%
[see also: Labor force - by occupation - industry country ranks ]
services: 2,003% (2003 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
13% (FY03/04 est.)
country comparison to the world: 136
[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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Investment (gross fixed):
26.4% of GDP (2011 est.)
country comparison to the world: 54
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $109.5 million
[see also: Budget revenues country ranks ]
expenditures: $109.5 million (2011 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
27.4% of GDP (2011 est.)
country comparison to the world: 106
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0% of GDP (2011 est.)
country comparison to the world: 44
[see also: Budget surplus (+) or deficit (-) country ranks ]

Inflation rate (consumer prices):
8.4% (2011 est.)
country comparison to the world: 175

3.6% (2010 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
11.8% (31 December 2011 est.)
country comparison to the world: 76

11.53% (31 December 2010 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$48.96 million (31 December 2011 est.)
country comparison to the world: 188

$54.37 million (31 December 2010 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$172.7 million (31 December 2011 est.)
country comparison to the world: 188

$171.8 million (31 December 2010 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$166.7 million (31 December 2011 est.)
country comparison to the world: 182

$165.8 million (31 December 2010 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: 145
[see also: Industrial production growth rate country ranks ]

Electricity - production:
40 million kWh (2008 est.)
country comparison to the world: 205
[see also: Electricity - production country ranks ]

Electricity - consumption:
37.2 million kWh (2008 est.)
country comparison to the world: 206
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2009)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2009 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2010 est.)
country comparison to the world: 134
[see also: Oil - production country ranks ]

Oil - consumption:
1,000 bbl/day (2010 est.)
country comparison to the world: 204
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2009 est.)
country comparison to the world: 133
[see also: Oil - exports country ranks ]

Oil - imports:
1,202 bbl/day (2009 est.)
country comparison to the world: 190
[see also: Oil - imports country ranks ]

Natural gas - production:
0 cu m (2009 est.)
country comparison to the world: 131
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2009 est.)
country comparison to the world: 132
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2009 est.)
country comparison to the world: 189
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2009 est.)
country comparison to the world: 132
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2011 est.)
country comparison to the world: 196
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$23 million (2007 est.)
country comparison to the world: 64
[see also: Current account balance country ranks ]

Exports:
$22 million (2006)
country comparison to the world: 205
[see also: Exports country ranks ]

Exports - commodities:
squash, fish, vanilla beans, root crops

Exports - partners:
Hong Kong 26.8%, US 17.9%, Fiji 10.7%, Samoa 9%, NZ 7.9%, Japan 6.1%, American Samoa 5.7% (2010)

Imports:
$139 million (2006)
country comparison to the world: 207
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, machinery and transport equipment, fuels, chemicals

Imports - partners:
Fiji 31.6%, NZ 22.3%, Japan 11%, US 10.8%, Australia 5.6%, China 5.1% (2010)

Reserves of foreign exchange and gold:
$40.83 million (FY04/05)
country comparison to the world: 175
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$104.5 million (31 December 2009 est.)
country comparison to the world: 185

$80.7 million (2004)
[see also: Debt - external country ranks ]

Exchange rates:
pa'anga (TOP) per US dollar -

1.826 (2011)
1.91


NOTE: 1) The information regarding Tonga on this page is re-published from the 2012 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 2012 information contained here. All suggestions for corrections of any errors about Tonga Economy 2012 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






This page was last modified 07-Mar-12
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