Tokelau Economy - 2021


SOURCE: 2021 CIA WORLD FACTBOOK

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Economic overview

Tokelau's small size (three villages), isolation, and lack of resources greatly restrain economic development and confine agriculture to the subsistence level. The principal sources of revenue are from sales of copra, postage stamps, souvenir coins, and handicrafts. Money is also remitted to families from relatives in New Zealand.

The people rely heavily on aid from New Zealand - about $15 million annually in FY12/13 and FY13/14 - to maintain public services. New Zealand's support amounts to 80% of Tokelau's recurrent government budget. An international trust fund, currently worth nearly $32 million, was established in 2004 by New Zealand to provide Tokelau an independent source of revenue.

Real GDP growth rate

N/A

Inflation rate (consumer prices)

4% (2020 est.)

2.5% (2019 est.)

11% (2017 est.)

note: Tokelau notes that its wide inflation swings are due almost entirely due to cigarette prices, a chief import.

country comparison to the world: 168

Real GDP (purchasing power parity)

$7,711,583 (2017 est.)

note: data are in 2017 dollars.

country comparison to the world: 228

GDP (official exchange rate)

$12.658 million (2017 est.)

note: data uses New Zealand Dollar (NZD) as the currency of exchange.

Real GDP per capita

$6,004 (2017 est.)

$4,855 (2016 est.)

$4,292 (2015 est.)

note: data are in 2017 dollars.

country comparison to the world: 166

GDP - composition, by sector of origin

agriculture: NA

industry: NA

services: NA

Agricultural products

coconuts, roots/tubers nes, tropical fruit, pork, bananas, eggs, poultry, pig offals, pig fat, fruit

Industries

small-scale enterprises for copra production, woodworking, plaited craft goods; stamps, coins; fishing

Labor force

1,100 (2019 est.)

country comparison to the world: 228

Unemployment rate

2% (2015 est.)

note: Underemployment may be as high as 6.6%

country comparison to the world: 21

Population below poverty line

N/A

Budget

revenues: 24,324,473 (2017 est.)

expenditures: 11,666,542 (2017 est.)

Fiscal year

1 April - 31 March

Exports

$103,000 (2015 est.)

$102,826 (2002 est.)

country comparison to the world: 222

Exports - partners

Singapore 25%, France 19%, South Africa 7%, New Zealand 5%, United States 5%, Ireland 5% (2019)

Exports - commodities

oscilloscopes, house linens, fruits, nuts, recreational boats, iron products (2019)

Imports

$15,792,720 (2015 est.)

country comparison to the world: 223

Imports - partners

Samoa 35%, Ireland 17%, Philippines 14%, Malaysia 13%, South Africa 9% (2019)

Imports - commodities

oscilloscopes, integrated circuits, refined petroleum, packaged medicines, orthopedic appliances (2019)

Exchange rates

New Zealand dollars (NZD) per US dollar -

1.543 (2017 est.)

NOTE: The information regarding Tokelau on this page is re-published from the 2021 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Tokelau 2021 information contained here. All suggestions for corrections of any errors about Tokelau 2021 should be addressed to the CIA or the source cited on each page.

This page was last modified 16 Dec 23, Copyright © 2023 ITA all rights reserved.