Tonga Economy 2018, CIA World Factbook
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Tonga Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Tonga Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Tonga has a small, open island economy and is the last constitutional monarchy among the Pacific Island countries. 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. Tourism is the second-largest source of hard currency earnings following remittances. Tonga had 53,800 visitors in 2015. The country must import a high proportion of its food, mainly from New Zealand.The country remains dependent on external aid and remittances from overseas Tongans to offset its trade deficit. The government is emphasizing the development of the private sector, encouraging investment, and is committing increased funds for health care and education. Tonga's English-speaking and educated workforce offer a viable labor market, and the tropical climate provides fertile soil. Renewable energy and deep-sea mining also offer opportunities for investment.Tonga has a reasonably sound basic infrastructure and well developed social services. The government faces high unemployment among the young, moderate inflation, pressures for democratic reform, and rising civil service expenditures.

GDP (purchasing power parity):
$587 million (2017 est.) $569.6 million (2016 est.) $552.7 million (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 212

GDP (official exchange rate):
$437 million (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.1% (2017 est.) 3.1% (2016 est.) 3.5% (2015 est.)
country comparison to the world: 112
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$5,600 (2017 est.) $5,500 (2016 est.) $5,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 169

GDP - composition, by end use:
household consumption: 99.2%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 20%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 26.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: -2.7%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 18.7%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -61.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 19.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 20.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 59.8% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, sweet potatoes, cassava, taro and kava

Industries:
tourism, construction, fishing

Industrial production growth rate:
5% (2017 est.)
country comparison to the world: 48
[see also: Industrial production growth rate country ranks ]

Labor force:
33,800 (2011 est.)
country comparison to the world: 202
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 27.5%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 27.5%
[see also: Labor force - by occupation - industry country ranks ]
services: 2,006% (2006 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
1.1% (2011 est.) 1.1% (2006)
country comparison to the world: 8
[see also: Unemployment rate country ranks ]

Population below poverty line:
24% (FY03/04 est.)
[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: $134.6 million
[see also: Budget - revenues country ranks ]
expenditures: $134.6 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
30.8% of GDP (2017 est.)
country comparison to the world: 77
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0% of GDP (2017 est.)
country comparison to the world: 35
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
45.1% of GDP (2013) 46.5% of GDP (2012)
country comparison to the world: 118
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
7.5% (2017 est.) 2.6% (2016 est.)
country comparison to the world: 195
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
8.1% (31 December 2017 est.) 7.9% (31 December 2016 est.)
country comparison to the world: 107
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$137.7 million (31 December 2017 est.) $112.8 million (31 December 2016 est.)
country comparison to the world: 187
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$263.9 million (31 December 2017 est.) $227.7 million (31 December 2016 est.)
country comparison to the world: 191
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$166.7 million (31 December 2017 est.) $135.2 million (31 December 2016 est.)
country comparison to the world: 187
[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 ]

Current account balance:
-$59 million (2017 est.) -$53 million (2016 est.)
country comparison to the world: 72
[see also: Current account balance country ranks ]

Exports:
$18.2 million (2017 est.) $19.4 million (2016 est.)
country comparison to the world: 214
[see also: Exports country ranks ]

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

Exports - partners:
Hong Kong 25.6%, Japan 15.1%, NZ 14.3%, US 13.5%, Australia 10%, Philippines 9.4% (2016)

Imports:
$320.7 million (2017 est.) $266.6 million (2016 est.)
country comparison to the world: 195
[see also: Imports country ranks ]

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

Imports - partners:
NZ 35.3%, Fiji 12.1%, Singapore 9.3%, China 8.4%, US 8%, Australia 7.6%, Japan 4.3% (2016)

Reserves of foreign exchange and gold:
$131.9 million (31 December 2017 est.) $176.5 million (31 December 2016 est.)
country comparison to the world: 165
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$233.5 million (31 December 2017 est.) $198.2 million (31 December 2016 est.)
country comparison to the world: 188
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$127.2 million (31 December 2017 est.) $117.2 million (31 December 2016 est.)
country comparison to the world: 130
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
pa'anga (TOP) per US dollar - 2.228 (2017 est.) 2.216 (2016 est.) 2.216 (2015 est.) 2.106 (2014 est.) 1.847 (2013 est.)


NOTE: 1) The information regarding Tonga on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Tonga Economy 2018 information contained here. All suggestions for corrections of any errors about Tonga Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The 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






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