Tonga - Economy
How is the economy of Tonga? Based on the information we have, Tonga has 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. Key agricultural products in this country include: coconuts, pumpkins/squash, cassava, sweet potatoes, vegetables, yams, taro, root vegetables, plantains, lemons/limes (2022).
More about the economy of Tonga
Labor force 38,000 (2023 est.)
Industrial production growth rate 1.23% (2021 est.)
Industries tourism, construction, fishing
Population below poverty line 20.6% (2021 est.)
Taxes and other revenues 21.3% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency pa'anga (TOP) per US dollar -
Exchange rates 2023 2.364 (2023 est.)
Exchange rates 2022 2.328 (2022 est.)
Exchange rates 2021 2.265 (2021 est.)
Exchange rates 2020 2.3 (2020 est.)
Exchange rates 2019 2.289 (2019 est.)
Debt - external
Debt - external 2022 $152.877 million (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $396.53 million (2023 est.)
Reserves of foreign exchange and gold 2022 $375.564 million (2022 est.)
Reserves of foreign exchange and gold 2021 $361.812 million (2021 est.)
Current account balance
Current account balance 2022 -$28.84 million (2022 est.)
Current account balance 2021 -$33.414 million (2021 est.)
Current account balance 2020 -$36.294 million (2020 est.)
Public debt
Public debt 2020 45.02% of GDP (2020 est.)
Budget
Revenues $215.007 million (2020 est.)
Expenditures $160.257 million (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 45.03% of GDP (2022 est.)
Remittances 2021 46.95% of GDP (2021 est.)
Remittances 2020 38.26% of GDP (2020 est.)
Household income
Lowest 10% 4% (2021 est.)
Highest 10% 22% (2021 est.)
Imports
Imports 2022 $332.743 million (2022 est.)
Imports 2021 $299.094 million (2021 est.)
Imports 2020 $314.803 million (2020 est.)
Imports (partners) Fiji 28%, China 23%, NZ 21%, Australia 6%, US 5% (2022)
Comodities Imports force refined petroleum, plastic products, poultry, sheep and goat meat, cars (2022)
Exports
Imports 2022 $332.743 million (2022 est.)
Imports 2021 $299.094 million (2021 est.)
Imports 2020 $314.803 million (2020 est.)
Exports (partners) US 31%, Australia 19%, NZ 12%, Hong Kong 8%, Belgium 8% (2022)
Comodities Exports force fish, scrap copper, processed crustaceans, vegetables, perfume plants (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2022 $700.437 million (2022 est.)
Real GDP (purchasing power parity) 2021 $714.816 million (2021 est.)
Real GDP (purchasing power parity) 2020 $734.406 million (2020 est.)
GDP (official exchange rate) $500.275 million (2022 est.)
Real GDP Per capita
Real GDP per capita 2022 $6,600 (2022 est.)
Real GDP per capita 2021 $6,700 (2021 est.)
Real GDP per capita 2020 $7,000 (2020 est.)
GDP - composition, by sector of origin
Agriculture 16.3% (2021 est.)
Industry 15.9% (2021 est.)
Services 49.7% (2021 est.)
GDP - composition, by end use
Household consumption 109% (2021 est.)
Government consumption 30.7% (2021 est.)
Investment in fixed capital 23.2% (2021 est.)
Investment in inventories -1.3% (2021 est.)
Exports of goods and services 12.5% (2021 est.)
Imports of goods and services -60.8% (2021 est.)
Unemployment rate
Unemployment rate 2023 2.3% (2023 est.)
Unemployment rate 2022 2.35% (2022 est.)
Unemployment rate 2021 2.11% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 6.7% (2023 est.)
Male 4.4% (2023 est.)
Female 10.5% (2023 est.)
All Important Facts about Tonga

Want to know more about Tonga? Check all different factbooks for Tonga below.

Tonga is found in Polynesia