Tuvalu - Economy
How is the economy of Tuvalu? Based on the information we have, Tuvalu has a upper middle-income Pacific island economy; extremely environmentally fragile; currency pegged to Australian dollar; large international aid recipient; subsistence agrarian sector; Te Kakeega sustainable development; domain name licensing incomes. Key agricultural products in this country include: coconuts, vegetables, tropical fruits, bananas, root vegetables, pork, chicken, eggs, pork fat, pork offal (2022).
More about the economy of Tuvalu
| Labor force | 3,615 |
|---|---|
| Industrial production growth rate | 4.3% (2014 est.) |
| Industries | fishing |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | Tuvaluan dollars or Australian dollars (AUD) per US dollar - |
| Exchange rates 2023 | 1.505 (2023 est.) |
| Exchange rates 2022 | 1.442 (2022 est.) |
| Exchange rates 2021 | 1.331 (2021 est.) |
| Exchange rates 2020 | 1.453 (2020 est.) |
| Exchange rates 2019 | 1.439 (2019 est.) |
| Debt - external | |
| Current account balance | |
| Current account balance 2022 | $2.713 million (2022 est.) |
| Current account balance 2021 | $14.533 million (2021 est.) |
| Current account balance 2020 | $8.46 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 37% of GDP (2017 est.) |
| Budget | |
| Revenues | $87 million (2019 est.) |
| Expenditures | $88 million (2019 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 4.82% of GDP (2023 est.) |
| Remittances 2022 | 4.18% of GDP (2022 est.) |
| Remittances 2021 | 4.9% of GDP (2021 est.) |
| Imports | |
| Imports 2022 | $57.388 million (2022 est.) |
| Imports 2021 | $63.962 million (2021 est.) |
| Imports 2020 | $56.947 million (2020 est.) |
| Imports (partners) | China 34%, Japan 27%, Fiji 20%, NZ 5%, Australia 5% (2022) |
| Comodities Imports force | ships, refined petroleum, iron structures, engine parts, plastic products (2022) |
| Exports | |
| Imports 2022 | $57.388 million (2022 est.) |
| Imports 2021 | $63.962 million (2021 est.) |
| Imports 2020 | $56.947 million (2020 est.) |
| Exports (partners) | Thailand 69%, Croatia 21%, Philippines 4%, South Korea 2%, Japan 1% (2022) |
| Comodities Exports force | fish, ships, computers, integrated circuits, nitrile compounds (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $59.202 million (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $57.006 million (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $56.622 million (2021 est.) |
| GDP (official exchange rate) | $62.28 million (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $5,200 (2023 est.) |
| Real GDP per capita 2022 | $5,000 (2022 est.) |
| Real GDP per capita 2021 | $5,100 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 24.5% (2012 est.) |
| Industry | 5.6% (2012 est.) |
| Services | 70% (2012 est.) |
| GDP - composition, by end use | |
| Government consumption | 87% (2016 est.) |
| Investment in fixed capital | 24.3% (2016 est.) |
| Exports of goods and services | 43.7% (2016 est.) |
| Imports of goods and services | -66.1% (2016 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 20.6% (2016) |
| Male | 9.8% |
| Female | 45.9% |
All Important Facts about Tuvalu
Want to know more about Tuvalu? Check all different factbooks for Tuvalu below.
