Home | Category: Government, Infrastructure, Economics
ECONOMY OF TONGA
Tonga is a 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. [Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by Origin) agriculture: 19.9 percent (2017 estimate)
industry: 20.3 percent (2017 estimate)
services: 59.8 percent (2017 estimate)
comparison rankings: agriculture 49; industry 145; services 129. [Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by End Use) household consumption: 99.4 percent (2017 estimate)
government consumption: 21.9 percent (2017 estimate)
investment in fixed capital: 24.1 percent (2017 estimate)
investment in inventories: 0 percent (2017 estimate)
exports of goods and services: 22.8 percent (2017 estimate)
imports of goods and services: -68.5 percent (2017 estimate). [Source: CIA World Factbook, 2023]
Natural Resources: arable land, fish
Industries: tourism, construction, fishing. Industrial Production Growth 1.23 percent (2021 estimate); ranking compared to other countries in the world: 146. [Source: CIA World Factbook, 2023]
Fiscal Year: 1 July: 30 June. [Source: CIA World Factbook, 2023]
Economic Statistics for Tonga
Gross Domestic Product (GDP) (purchasing power parity): $651.247 million (2021 estimate)
$669.095 million (2020 estimate)
$665.842 million (2019 estimate). Data are in 2017 dollars; ranking compared to other countries in the world: 212. [Source: CIA World Factbook, 2023]
Growth: -2.67 percent (2021 estimate)
0.49 percent (2020 estimate)
0.71 percent (2019 estimate); ranking compared to other countries in the world: 207. [Source: CIA World Factbook, 2023]
Per Capita GDP: $6,100 (2021 estimate) Data are in 2017 dollars; $6,400 (2020 estimate) Data are in 2017 dollars, $6,300 (2019 estimate); ranking compared to other countries in the world: 160. [Source: CIA World Factbook, 2023]
GDP: (official exchange): $455 million (2017 estimate). [Source: CIA World Factbook, 2023]
Inflation (consumer prices): 5.64 percent (2021 estimate)
-0.35 percent (2020 estimate)
1.18 percent (2019 estimate); ranking compared to other countries in the world: 58
Agriculture in Tonga
Agricultural Products: coconuts, gourds, cassava, sweet potatoes, vegetables, yams, taro, roots/tubers nes, plantains, lemons/limes. [Source: CIA World Factbook, 2023]
Land Use: agricultural land: 43.1 percent (2018 estimate). Arable Land: 22.2 percent (2018 estimate); permanent crops: 15.3 percent (2018 estimate); permanent pasture: 5.6 percent (2018 estimate); forest: 12.5 percent (2018 estimate); other: 44.4 percent (2018 estimate). Irrigated Land: 0 square kilometers (2022). [Source: CIA World Factbook 2023]
Labor, Poverty and Unemployment
Labor Force: 32,000 (2021 estimate); ranking compared to other countries in the world: 203. [Source: CIA World Factbook, 2023]
Labor Force by Occupation: agriculture: 2,006 percent (2006 estimate)
industry: 27.5 percent (2006 estimate)
services: 2,006 percent (2006 estimate). [Source: CIA World Factbook, 2023]
Unemployment Rate: 3.97 percent (2021 estimate)
3.63 percent (2020 estimate)
3.06 percent (2019 estimate); ranking compared to other countries in the world: 177. [Source: CIA World Factbook 2023]
Youth Unemployment Rate (ages 15-24): total: 11.1 percent; male: 7.5 percent; female: 16.3 percent (2021 estimate); ranking compared to other countries in the world: 145. [Source: CIA World Factbook 2023]
Population Below Poverty Line: 22.5 percent (2010 estimate)
Gini Index coefficient: distribution of family income
37.6 (2015 estimate); ranking compared to other countries in the world: 79. [Source: CIA World Factbook, 2023]
Household Income or Consumption by Percentage Share: lowest 10 percent: NA; highest 10 percent: NA. [Source: CIA World Factbook, 2023]
Trade in Tonga
Current Account Balance: -$19.188 million (2021 estimate)
-$25.78 million (2020 estimate)
-$4.214 million (2019 estimate); ranking compared to other countries in the world: 82. [Source: CIA World Factbook, 2023]
Exports (data in current year dollars): $58.745 million (2021 estimate); $99.78 million (2020 estimate); $112.482 million (2019 estimate) ; ranking compared to other countries in the world: 212. [Source: CIA World Factbook, 2023]
Main Exports: squash, fish, various fruits and nuts, antiques, coral and shells (2019). Export Partners: United States 38 percent, South Korea 18 percent, Australia 14 percent, New Zealand 14 percent, Japan 6 percent, (2019). [Source: CIA World Factbook, 2023]
Imports (data in current year dollars): $285.675 million (2021 estimate); $309.685 million (2020 estimate); $327.395 million (2019 estimate) ; ranking compared to other countries in the world: 208. [Source: CIA World Factbook, 2023]
Main Imports: refined petroleum, poultry meats, audio equipment, mutton, goat meat, broadcasting equipment (2019). Import Partners: Fiji 29 percent, New Zealand 23 percent, China 14 percent, United States 8 percent, Australia 6 percent, Japan 6 percent (2019). [Source: CIA World Factbook, 2023]
Debt and Foreign Exchange
Reserves of Foreign Exchange and Gold: $361.812 million (31 December 2021 estimate)
$298.948 million (31 December 2020 estimate)
$218.448 million (31 December 2019 estimate); ranking compared to other countries in the world: 172. [Source: CIA World Factbook, 2023]
Debt (External): $189.9 million (31 December 2017 estimate)
$198.2 million (31 December 2016 estimate); ranking compared to other countries in the world: 190. [Source: CIA World Factbook, 2023]
Public Debt: 51.8 percent of GDP (FY2016 estimate)
49.41 percent of GDP (2016 estimate); ranking compared to other countries in the world: 107. [Source: CIA World Factbook, 2023]
Taxes: 39.8 percent (of GDP) (2017 estimate); ranking compared to other countries in the world: 12. [Source: CIA World Factbook, 2023]
Currency Exchange Rates: pa'anga (TOP) per US dollar
2.265 (2021 estimate)
2.3 (2020 estimate)
2.289 (2019 estimate)
2.237 (2018 estimate)
2.206 (2017 estimate)
[Source: CIA World Factbook, 2023]
Image Sources:
Text Sources: CIA World Factbook, 2023; “Encyclopedia of World Cultures, Volume 2: Oceania,” edited by Terence E. Hays, 1991, Wikipedia, New York Times, Washington Post, Los Angeles Times, Times of London, Lonely Planet Guides, Library of Congress, The Guardian, National Geographic, Smithsonian magazine, The New Yorker, Reuters, Associated Press, AFP, BBC, CNN, and various books, websites and other publications.
Last updated August 2023