Tuvalu Economic Statistics and Indicators

31, Oct 2020, EDT. Welcome to the Tuvalu economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Tuvalu › Change country
National or Regional Currency: Australian Dollar, AUD
Year of data: 2015 › Change year
Number of Indicators Listed: 28
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 10,782 (July 2014 est.)
Area: total: 26 sq km ; land: 26 sq km ; water: 0 sq km
Natural Resources: fish
Capital: name: Funafuti; note - administrative offices are in Vaiaku Village on Fongafale Islet ; geographic coordinates: 8 31 S, 179 13 E ; time difference: UTC+12 (17 hours ahead of Washington, DC, during Standard Time)

Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. Only eight of the atolls are inhabited. The country has no known mineral resources and few exports and is almost entirely dependent upon imported food and fuel. Subsistence farming and fishing are the primary economic activities. Fewer than 1,000 tourists, on average, visit Tuvalu annually. Job opportunities are scarce and public sector workers make up most of those employed. About 15% of the adult male population work as seamen on merchant ships abroad, and remittances are a vital source of income contributing around $2 million in 2007. Substantial income is received annually from the Tuvalu Trust Fund (TTF) an international trust fund established in 1987 by Australia, NZ, and the UK and supported also by Japan and South Korea. Thanks to wise investments and conservative withdrawals, this fund grew from an initial $17 million to an estimated value of $77 million in 2006. The TTF contributed nearly $9 million towards the government budget in 2006 and is an important cushion for meeting shortfalls in the government's budget. The US Government is also a major revenue source for Tuvalu because of payments from a 1988 treaty on fisheries. In an effort to ensure financial stability and sustainability, the government is pursuing public sector reforms, including privatization of some government functions and personnel cuts. Tuvalu also derives royalties from the lease of its ".tv" Internet domain name with revenue of more than $2 million in 2006. A minor source of government revenue comes from the sale of stamps and coins. With merchandise exports only a fraction of merchandise imports, continued reliance must be placed on fishing and telecommunications license fees, remittances from overseas workers, official transfers, and income from overseas investments. Growing income disparities and the vulnerability of the country to climatic change are among leading concerns for the nation.

GDP (Constant Prices, National Currency) for Tuvalu in year 2015 is AUD 0.036 Billion.

GDP Growth (Constant Prices, National Currency) for Tuvalu in year 2015 is 2.642 %.

GDP (Current Prices, National Currency) for Tuvalu in year 2015 is AUD 0.043 Billion.

GDP (Current Prices, US Dollars) for Tuvalu in year 2015 is US$ 0.033 Billion.

GDP Deflator for Tuvalu in year 2015 is 120.755 (Index, Base Year as per country's accounts = 100).

GDP Per Capita (Constant Prices, National Currency) for Tuvalu in year 2015 is AUD 3,323.06 .

GDP Per Capita (Current Prices, National Currency) for Tuvalu in year 2015 is AUD 4,012.74 .

GDP Per Capita (Current Prices, US Dollars) for Tuvalu in year 2015 is US$ 3,014.63 .

GDP (PPP), US Dollars for Tuvalu in year 2015 is US$ 0.037 Billion.

GDP Per Capita (PPP), US Dollars for Tuvalu in year 2015 is US$ 3,393.05 .

GDP Share of World Total (PPP) for Tuvalu in year 2015 is -- %.

Implied PPP Conversion Rate for Tuvalu in year 2015 is 1.183 .

Inflation, Average Consumer Prices (Indexed to Year 2000) for Tuvalu in year 2015 is 145.038 (Index, Base Year 2000 = 100).

Inflation (Average Consumer Price Change %) for Tuvalu in year 2015 is 3.3 %.

Inflation, End of Year (Indexed to Year 2000) for Tuvalu in year 2015 is 146.322 (Index, Base Year 2000 = 100).

Inflation (End of Year Change %) for Tuvalu in year 2015 is 3.3 %.

Population for Tuvalu in year 2015 is 0.011 Million .

General government revenue (National Currency) for Tuvalu in year 2015 is AUD 0.063 Billions.

General government revenue (% of GDP) for Tuvalu in year 2015 is 143.78 %.

General government total expenditure (National Currency) for Tuvalu in year 2015 is AUD 0.05 Billions.

General government total expenditure (% of GDP) for Tuvalu in year 2015 is 116.12 %.

Total Government Net Lending/ Borrowing (National Currency) for Tuvalu in year 2015 is AUD 0.012 Billions.

Total Government Net Lending/ Borrowing (% of GDP) for Tuvalu in year 2015 is 27.661 %.

Fiscal Year Gross Domestic Product, Current Prices for Tuvalu in year 2015 is AUD 0.043 Billions.

Current Account Balance (US Dollars) for Tuvalu in year 2015 is US$ -0.009 Billion.

Current Account Balance (% GDP) for Tuvalu in year 2015 is -26.712 %.