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Wallis and Futuna Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Wallis and Futuna Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings coming from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. However, roughly 70% of the labor force is employed in the public sector, although only about a third of the population is in salaried employment.

Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia. France directly finances the public sector and health-care and education services. It also provides funding for key development projects in a range of areas, including infrastructure, economic development, environmental management, and health-care facilities.

A key concern for Wallis and Futuna is an aging population with consequent economic development issues. Very few people aged 18-30 live on the islands due to the limited formal employment opportunities. Improving job creation is a current priority for the territorial government.

GDP (purchasing power parity):
$60 million (2004 est.)
country comparison to the world: 225
[see also: GDP country ranks ]

GDP (official exchange rate):
$195 million (2005) (2005)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
NA
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$3,800 (2004 est.)
country comparison to the world: 181
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 26% (2005)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 54% (2005)
[see also: GDP - composition, by end use - government consumption country ranks ]

GDP - composition, by sector of origin:
agriculture: NA
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: NA
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: NA
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
coconuts, breadfruit, yams, taro, bananas; pigs, goats; fish

Industries:
copra, handicrafts, fishing, lumber

Industrial production growth rate:
NA
[see also: Industrial production growth rate country ranks ]

Labor force:
4,482 (2013)
country comparison to the world: 223
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 74%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 3%
[see also: Labor force - by occupation - industry country ranks ]
services: 23% (2015 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
8.8% (2013 est.)
12.2% (2008 est.)
country comparison to the world: 126
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA
[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 ]

Budget:
revenues: 32.54 million NA (2015 est.)
[see also: Budget - revenues country ranks ]
expenditures: 34.18 million NA (2015 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
16.7% (of GDP) NA (2015 est.)
country comparison to the world: 175
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-0.8% (of GDP) NA (2015 est.)
country comparison to the world: 70
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
5.6% of GDP (2004 est.)
note: offical data; data cover general government debt and include debt instruments issued (or owned) by government entities other than the treasury; the data include treasury debt held by foreign entities; the data include debt issued by subnational entities, as well as intragovernmental debt; intragovernmental debt consists of treasury borrowings from surpluses in the social funds, such as for retirement, medical care, and unemployment; debt instruments for the social funds are not sold at public auctions
country comparison to the world: 204
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
0.9% (2015)
2.8% (2005)
country comparison to the world: 48
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$47,450 (2004 est.)
country comparison to the world: 222
[see also: Exports country ranks ]

Exports - commodities:
copra, chemicals, construction materials

Imports:
$61.17 million (2004 est.)
country comparison to the world: 219
[see also: Imports country ranks ]

Imports - commodities:
chemicals, machinery, consumer goods

Debt - external:
$3.67 million (2004)
country comparison to the world: 201
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
(31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Exchange rates:
Comptoirs Francais du Pacifique francs (XPF) per US dollar -
110.2 (2015 est.)
89.8 (2014 est.)
89.85 (2013 est.)
90.56 (2012 est.)

NOTE: 1) The information regarding Wallis and Futuna on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Wallis and Futuna Economy 2019 information contained here. All suggestions for corrections of any errors about Wallis and Futuna Economy 2019 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 08-Feb-19
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