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    Tuvalu Economy - 1990

      Overview: Tuvalu consists of a scattered group of nine coral atolls with poor-quality soil. The country has a small economy, no known mineral resources, and few exports. Subsistence farming and fishing are the primary economic activities. The islands are too small and too remote for development of a tourist industry. Government revenues largely come from the sale of stamps and coins and worker remittances. Substantial income is received annually from an international trust fund established in 1987 by Australia, New Zealand, and the UK and supported also by Japan and South Korea.

      GNP: $4.6 million, per capita $530; real growth rate NA% (1989 est.)

      Inflation rate (consumer prices): 3.9% (1984)

      Unemployment rate: NA%

      Budget: revenues $2.59 million; expenditures $3.6 million, including capital expenditures of NA (1983 est.)

      Exports: $1.0 million (f.o.b., 1983 est.); commodities--copra; partners--Fiji, Australia, NZ

      Imports: $2.8 million (c.i.f., 1983 est.); commodities--food, animals, mineral fuels, machinery, manufactured goods; partners--Fiji, Australia, NZ

      External debt: $NA

      Industrial production: growth rate NA

      Electricity: 2,600 kW capacity; 3 million kWh produced, 350 kWh per capita (1989)

      Industries: fishing, tourism, copra

      Agriculture: coconuts, copra

      Aid: US commitments, including Ex-Im (FY70-87), $1 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $84 million

      Currency: Tuvaluan dollar and Australian dollar (plural--dollars); 1 Tuvaluan dollar ($T) or 1 Australian dollar ($A) = 100 cents

      Exchange rates: Tuvaluan dollars ($T) or Australian dollars ($A) per US$1--1.2784 (January 1990), 1.2618 (1989), 1.2752 (1988), 1.4267 (1987), 1.4905 (1986), 1.4269 (1985)

      Fiscal year: NA

      NOTE: The information regarding Tuvalu 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 Tuvalu Economy 1990 information contained here. All suggestions for corrections of any errors about Tuvalu Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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