Oceania > Tonga > Economy

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Agriculture > products squash, coconuts, copra, bananas, vanilla beans, cocoa, coffee, ginger, black pepper; fish
Current account balance	-$23,000,000.00		[67th of 181]
Debt > External	$80,700,000.00		[27th of 136]
Economy > Overview Tonga has a small, open, South Pacific island economy. It has a narrow export base in agricultural goods. Squash, vanilla beans, and yams are the main crops, and agricultural exports, including fish, make up two-thirds of total exports. The country must import a high proportion of its food, mainly from New Zealand. The country remains dependent on external aid and remittances from Tongan communities overseas to offset its trade deficit. Tourism is the second-largest source of hard currency earnings following remittances. The government is emphasizing the development of the private sector, especially the encouragement of investment, and is committing increased funds for health and education. Tonga has a reasonably sound basic infrastructure and well-developed social services. High unemployment among the young, a continuing upturn in inflation, pressures for democratic reform, and rising civil service expenditures are major issues facing the government.
Exchange rates pa'anga per US dollar - 1.9716 (2004), 2.142 (2003), 2.1952 (2002), 2.1236 (2001), 1.7585 (2000)
Exports	$22,000,000.00		[183rd of 189]
Exports to US	$1,700,000.00		[165th of 224]
GDP	$222,949,600.00		[167th of 203]
GDP (purchasing power parity)	$526,000,000.00		[185th of 187]
GDP > PPP	$737,000,000.00		[159th of 163]
GDP > Real growth rate	-3.5%		[185th of 198]
GDP growth > annual %	2.32 annual %		[137th of 187]
GDP per capita, PPP > current international $	8,176.82 PPP $		[62nd of 169]
Gross National Income	$154,218,000.00		[166th of 172]
Human Development Index	0.81		[54th of 178]
Inflation rate (consumer prices)	5.9%		[81st of 192]
Population below poverty line	24%		[13th of 46]
Total reserves minus gold > current US$	46,864,170 $		[170th of 178]
Tourist arrivals	26,000		[139th of 152]
Tourist arrivals by region of origin > Europe	2,908		[170th of 195]

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