Wallis and Futuna Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

lower-middle-income, agrarian French dependency economy; heavily reliant on French subsidies; licenses fishing rights to Japan and South Korea; major remittances from New Caledonia; aging workforce; import-dependent; deforestation-fueled fragility

Real GDP (purchasing power parity)

$60 million (2004 est.)

Real GDP growth rate

N/A

Real GDP per capita

$3,800 (2004 est.)

GDP (official exchange rate)

$195 million (2005) (2005)

Inflation rate (consumer prices)

0.9% (2015)

2.8% (2005)

GDP - composition, by sector of origin

agriculture: NA

industry: NA

services: NA

GDP - composition, by end use

household consumption: 26% (2005)

government consumption: 54% (2005)

Agricultural products

coconuts, breadfruit, yams, taro, bananas; pigs, goats; fish

Industries

copra, handicrafts, fishing, lumber

Industrial production growth rate

N/A

Labor force

4,482 (2013)

Labor force - by occupation

agriculture: 74%

industry: 3%

services: 23% (2015 est.)

Unemployment rate

8.8% (2013 est.)

12.2% (2008 est.)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $32.54 million (2015 est.)

expenditures: $34.18 million (2015 est.)

Budget surplus (+) or deficit (-)

-0.8% (of GDP) (2015 est.)

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

Taxes and other revenues

16.7% (of GDP) (2015 est.)

Fiscal year

calendar year

Exports

$47,450 (2004 est.)

Exports - partners

Singapore 47%, France 32%, Belgium 9% (2019)

Exports - commodities

integrated circuits, jewelry, cars, aircraft parts, polyacetals (2019)

Imports

$61.17 million (2004 est.)

Imports - partners

France 43%, Fiji 24%, New Zealand 11%, Australia 6% (2019)

Imports - commodities

refined petroleum, beef products, poultry meats, engine parts, packaged medicines (2019)

Debt - external

$3.67 million (2004)

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: The information regarding Wallis and Futuna on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Wallis and Futuna 2023 information contained here. All suggestions for corrections of any errors about Wallis and Futuna 2023 should be addressed to the CIA or the source cited on each page.