Tuvalu Economics and Business

Business

According to COUNTRYAAH, Tuvalu is one of the least developed countries in the world. Commercial agriculture is a little developed, but many are self-sustaining. The soil is lean, and the only forage product is copra from coconut trees. For your own consumption, taro, papaya, bananas and pandanus nuts are grown (Pandanus is a related screw palm). Fishing (mainly of tuna) is conducted on a small scale.

Tuvalu GDP (Nominal, $USD) 2003-2017

Economy

Inflation rate 4.10%
Unemployment rate
Gross domestic product (GDP) $ 42,000,000
GDP growth rate 3.20%
GDP per capita $ 3,800
GDP by sector
Agriculture 24.50%
Industry 5.60%
Service 70.00%
State budget
Revenue 22.78 million
Expenditure 14.23 million
Proportion of the population below the national poverty line
Distribution of household income
Top 10% k. A.
Lower 10% k. A.
Industrial production growth rate -26.10%
Investment volume
National debt 37.00% of GDP
Foreign exchange reserves
Tourism 2014
Number of visitors 1,000
Revenue $ 2,400,000
  • According to AllCityPopulation, the capital city of Tuvalu is Funafuti with a population of 6 320 (2017).

The country has a large trade deficit. In the first place, food was imported, but also industrial goods, transport and fossil fuels, mainly from Fiji, Japan and Australia. The very limited supply opportunities in Tuvalu mean that more and more people are applying abroad as guest workers, and their money sent home is of great importance to the country’s economy. Furthermore, the country earns revenue from selling rights to the domain name.tv on the internet.

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