Tonga Economy - 2024

GEOGRAPHICAL NAMES 

Economic overview

upper middle-income Pacific island economy; enormous diaspora and remittance reliance; key tourism and agricultural sectors; major fish exporter; rapidly growing Chinese infrastructure investments; rising methamphetamine hub

Real GDP (purchasing power parity)

$651.247 million (2021 est.)
$669.095 million (2020 est.)
$665.842 million (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

-2.67% (2021 est.)
0.49% (2020 est.)
0.71% (2019 est.)

Real GDP per capita

$6,100 (2021 est.) note: data are in 2017 dollars
$6,400 (2020 est.) note: data are in 2017 dollars
$6,300 (2019 est.)

GDP (official exchange rate)

$455 million (2017 est.)

Inflation rate (consumer prices)

5.64% (2021 est.)
-0.35% (2020 est.)
1.18% (2019 est.)

GDP - composition, by sector of origin

agriculture: 19.9% (2017 est.)

industry: 20.3% (2017 est.)

services: 59.8% (2017 est.)

GDP - composition, by end use

household consumption: 99.4% (2017 est.)

government consumption: 21.9% (2017 est.)

investment in fixed capital: 24.1% (2017 est.)

investment in inventories: 0% (2017 est.)

exports of goods and services: 22.8% (2017 est.)

imports of goods and services: -68.5% (2017 est.)

Agricultural products

coconuts, gourds, cassava, sweet potatoes, vegetables, yams, taro, roots/tubers, plantains, lemons/limes

Industries

tourism, construction, fishing

Industrial production growth rate

1.23% (2021 est.)

Labor force

32,000 (2021 est.)

Unemployment rate

3.97% (2021 est.)
3.63% (2020 est.)
3.06% (2019 est.)

Youth unemployment rate (ages 15-24)

total: 11.1% (2021 est.)

male: 7.5%

female: 16.3%

Population below poverty line

22.5% (2010 est.)

Gini Index coefficient - distribution of family income

37.6 (2015 est.)

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Remittances

45.5% of GDP (2021 est.)
39.3% of GDP (2020 est.)
37.18% of GDP (2019 est.)

Budget

revenues: $212 million (2019 est.)

expenditures: $196 million (2019 est.)

Budget surplus (+) or deficit (-)

0% (of GDP) (2017 est.)

Public debt

49.41% of GDP (2016 est.)
51.8% of GDP (FY2016 est.)

Taxes and other revenues

39.8% (of GDP) (2017 est.)

Fiscal year

1 July - 30 June

Current account balance

-$19.188 million (2021 est.)
-$25.78 million (2020 est.)
-$4.214 million (2019 est.)

Exports

$58.745 million (2021 est.) note: data are in current year dollars
$99.78 million (2020 est.) note: data are in current year dollars
$112.482 million (2019 est.) note: data are in current year dollars

Exports - partners

United States 22%, South Africa 18%, New Zealand 15%, Australia 13%, South Korea 11% (2021)

Exports - commodities

natural gas, shellfish, various fruits and nuts, vegetables, cassava, coral and shells (2021)

Imports

$285.675 million (2021 est.) note: data are in current year dollars
$309.685 million (2020 est.) note: data are in current year dollars
$327.395 million (2019 est.) note: data are in current year dollars

Imports - partners

New Zealand 36%, China 20%, Fiji 18%, Australia 6%, United States 6% (2021)

Imports - commodities

refined petroleum, poultry meats, cars, mutton, goat meat, lumber, x-ray equipment, broadcasting equipment (2021)

Reserves of foreign exchange and gold

$361.812 million (31 December 2021 est.)
$298.948 million (31 December 2020 est.)
$218.448 million (31 December 2019 est.)

Debt - external

$189.9 million (31 December 2017 est.)
$198.2 million (31 December 2016 est.)

Exchange rates

pa'anga (TOP) per US dollar -

Exchange rates:
2.265 (2021 est.)
2.3 (2020 est.)
2.289 (2019 est.)
2.237 (2018 est.)
2.206 (2017 est.)

NOTE: The information regarding Tonga on this page is re-published from the 2024 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Tonga 2024 information contained here. All suggestions for corrections of any errors about Tonga 2024 should be addressed to the CIA or the source cited on each page.