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This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for about two-thirds of the population. Fishing, offshore financial services, and tourism, with nearly 197,000 visitors in 2008, are other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002, the government stepped up efforts to boost tourism through improved air connections, resort development, and cruise ship facilities. Agriculture, especially livestock farming, is a second target for growth. Australia and New Zealand are the main suppliers of tourists and foreign aid.
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$1.153 billion (2009 est.)
country comparison to the world: 195
$1.111 billion (2008 est.)
$1.042 billion (2007 est.)
note:
data are in 2009 US dollars
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$635 million (2009 est.)
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3.8% (2009 est.)
country comparison to the world: 48
6.6% (2008 est.)
6.8% (2007 est.)
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$5,300 (2009 est.)
country comparison to the world: 140
$5,200 (2008 est.)
$4,900 (2007 est.)
note:
data are in 2009 US dollars
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agriculture: 26%
industry:
12%
services:
62% (2000 est.)
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115,900 (2007)
country comparison to the world: 180
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agriculture: 65%
industry:
5%
services:
30% (2000 est.)
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1.7% (1999)
country comparison to the world: 9
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NA%
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lowest 10%: NA%
highest 10%:
NA%
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revenues: $78.7 million
expenditures:
$72.23 million (2005 est.)
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3.9% (2007 est.)
country comparison to the world: 127
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6% (31 December 2008)
country comparison to the world: 76
6% (31 December 2007)
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5.29% (31 December 2008)
country comparison to the world: 112
8.16% (31 December 2007)
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$101.6 million (31 December 2008)
country comparison to the world: 154
$107.1 million (31 December 2007)
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$430 million (31 December 2008)
country comparison to the world: 139
$421.8 million (31 December 2007)
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$274 million (31 December 2008)
country comparison to the world: 127
$229.5 million (31 December 2007)
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$NA
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copra, coconuts, cocoa, coffee, taro, yams, fruits, vegetables; beef; fish
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food and fish freezing, wood processing, meat canning
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42 million kWh (2007 est.)
country comparison to the world: 200
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39.06 million kWh (2007 est.)
country comparison to the world: 201
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0 kWh (2008 est.)
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0 kWh (2008 est.)
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0 bbl/day (2009 est.)
country comparison to the world: 123
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1,000 bbl/day (2009 est.)
country comparison to the world: 192
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0 bbl/day (2007 est.)
country comparison to the world: 168
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654 bbl/day (2007 est.)
country comparison to the world: 194
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0 bbl (1 January 2009 est.)
country comparison to the world: 108
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0 cu m (2008 est.)
country comparison to the world: 114
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0 cu m (2008 est.)
country comparison to the world: 165
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0 cu m (2008 est.)
country comparison to the world: 103
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0 cu m (2008 est.)
country comparison to the world: 117
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0 cu m (1 January 2009 est.)
country comparison to the world: 121
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-$60 million (2007 est.)
country comparison to the world: 70
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$40 million (2006)
country comparison to the world: 200
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copra, beef, cocoa, timber, kava, coffee
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Thailand 53.15%, Japan 12.22%, Poland 11.78% (2009)
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$156 million (2006)
country comparison to the world: 203
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machinery and equipment, foodstuffs, fuels
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Japan 17.3%, Australia 13.46%, China 12.26%, Singapore 12%, NZ 6.88%, Poland 6.61%, France 5.86%, Fiji 5.52% (2009)
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$40.54 million (2003)
country comparison to the world: 154
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$81.2 million (2004)
country comparison to the world: 181
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vatu (VUV) per US dollar - 97.93 (2009), NA (2007), 111.93 (2006), NA (2005), 111.79 (2004), 122.19 (2003)
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