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    Tonga Economy - 1991

      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 11% 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): 4.5% (FY89)

      Unemployment rate: NA%

      Budget: revenues $30.6 million; expenditures $48.9 million, including capital expenditures of $22.5 million (FY89 est.)

      Exports: $9.6 million (f.o.b., FY90 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: $59.9 million (c.i.f., FY90 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: $42.0 million (FY89)

      Industrial production: growth rate 15% (FY86); accounts for 11% of GDP

      Electricity: 6,000 kW capacity; 8 million kWh produced, 80 kWh per capita (1990)

      Industries: tourism, fishing

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

      Economic aid: US commitments, including Ex-Im (FY70-89), $16 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $240 million

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

      Exchange rates: pa'anga (T$) per US$1--1.2832 (January 1991), 1.2809 (1990), 1.2637 (1989), 1.2799 (1988), 1.4282 (1987), 1.4960 (1986), 1.4319 (1985)

      Fiscal year: 1 July-30 June

      NOTE: The information regarding Tonga on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 1991 information contained here. All suggestions for corrections of any errors about Tonga Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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