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@Tonga, Economy

Overview:
The economy's base is agriculture, which employs about 70% of the
labor force and contributes 40% to GDP. Coconuts, bananas, and vanilla
beans are the main crops and make up two-thirds of exports. The
country must import a high proportion of its food, mainly from New
Zealand. The manufacturing sector accounts for only 11% of GDP.
Tourism is the primary source of hard currency earnings, but the
island remains dependent on sizable external aid and remittances to
offset its trade deficit. The economy continued to grow in 1993
largely because of a rise in squash exports, increased aid flows, and
several large construction projects. The government is now turning its
attention to further development of the private sector and the
reduction of the budget deficit.
National product:
GDP - purchasing power equivalent - $200 million (1993 est.)
National product real growth rate:
4% (1993 est.)
National product per capita:
$2,000 (1993 est.)
Inflation rate (consumer prices):
9% (FY92)
Unemployment rate:
NA%
Budget:
revenues:
$36.4 million
expenditures:
$68.1 million, including capital expenditures of $33.2 million (1991
est.)
Exports:
$18.8 million (f.o.b., FY92 est.)
commodities:
vanilla, fish, root crops, coconut oil, squash
partners:
Japan 34%, US 17%, Australia 13%, NZ 13% (FY91)
Imports:
$68.3 million (c.i.f., FY92 est.)
commodities:
food products, machinery and transport equipment, manufactures, fuels,
chemicals
partners:
NZ 33%, Australia 22%, US 8%, Japan 8% (FY91)
External debt:
$47.5 million (FY91)
Industrial production:
growth rate 1.5% (FY92); accounts for 11% of GDP
Electricity:
capacity:
6,000 kW
production:
8 million kWh
consumption per capita:
80 kWh (1990)
Industries:
tourism, fishing
Agriculture:
accounts for 40% of GDP; dominated by coconut, copra, and banana
production; vanilla beans, cocoa, coffee, ginger, black pepper
Economic aid:
recipient:
US commitments, including Ex-Im (FY70-89), $16 million; Western
(non-US) countries, ODA and OOF bilateral commitments (1970-89), $258
million
Currency:
1 pa'anga (T$) = 100 seniti
Exchange rates:
pa'anga (T$) per US$1 - 1.3934 (November 1993), 1.3471 (1992), 1.2961
(1991), 1.2809 (1990), 1.2637 (1989),
Fiscal year:
1 July-30 June

@Tonga, Communications

Highways:
total:
366 km
paved:
272 km (19