Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about Tonga economic outlook, debt to GDP ratio, international trade performance and population trends.
Basic Information
Government Type: Constitutional monarchy
Capital City: Nuku’alofa
GDP & Economic Information
Macroeconomy & Sovereign Data
Central Bank | National Reserve Bank of Tonga |
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Currency | pa’anga (TOP) |
International Reserves | USD 0.23 billion (2018, estimate) |
Gross Domestic Product – GDP | USD 0.6 billion (2018, estimate) |
GDP (Purchasing Power Parity) | Intl$ 0.6 billion (2018, estimate) |
GDP Data
Real GDP growth |
2014 2.9% 2015 3.5% 2016 4.2% 2017 2.5% 2018* 1.8% *Estimate |
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GDP per capita – current prices | USD 4,665.2.9 (2018, estimate) |
GDP per capita – PPP | Intl$ 6,110.5 (2018, estimate) |
GDP (PPP) – share of world total | N/A |
GDP – composition by sector |
agriculture: 19.9% industry: 20.3% services: 59.8% (2017 estimate) |
Gross domestic expenditure on R&D; (% of GDP) | N/A |
Inflation |
2014 -1.1% 2015 2.6% 2016 7.4% 2017* 2.9% 2018* 3.8% *Estimate |
Tonga
Inflation & Debt
Inflation |
2014 -1.1% 2015 2.6% 2016 7.4% 2017* 2.9% 2018* 3.8% *Estimate |
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Government Bond Ratings |
Standard & Poor’s: N/A Moody’s: N/A Standard & Poor’s / Moody’s (Updated January 2017) |
Unemployment rate | N/A |
Household saving rates | N/A |
Public debt (General government gross debt as a % of GDP) | N/A |
Public deficit (General government net lending/borrowing as a % of GDP) |
2014 -1.5% 2015 0.9% 2016 1.8% 2017* -0.8% 2018* -2.6% *Estimate |
Market value of publicly traded shares | N/A |
Largest Companies | N/A |
Import/Export
Exports as percent of GDP (Exports of goods and services) | 21.5% (2017) |
---|---|
Shares in world total merchandising export | 0.0001% (2018) |
Shares in world total commercial services export | 0.002% (2018) |
Total exports | USD 103.2 million (2018 estimate) |
Export commodities | Squash, fish, vanilla beans, root crops, kava |
Total imports | USD 323.6 million (2018 estimate) |
Import commodities | Foodstuffs, machinery and transport equipment, fuels, chemicals |
Exports – major partners | Hong Kong 25.1%, NZ 22.6%, US 14.3%, Japan 12.8%, Australia 10.5% (2017) |
Imports – major partners | NZ 33.3%, Fiji 11.7%, US 9.8%, Singapore 9%, Australia 8.9%, China 7.9%, Japan 5.9% (2017) |
Competitiveness & Trade
Current account balance | USD 0.0 billion (2018 estimate) |
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Current account balance by percentage of GDP | -7.7% (2018 estimate) |
FDI inflows |
2016 USD 8.8 8.8 million 2019 USD 13.8 million 2020 USD 8.2 million |
FDI Outflows |
2016 USD 1.2 million 2017 USD 1.5 million 2018 USD 0.5 million |
Value of cross-border M&A, by country of purchaser |
N/A United Nations Conference on Trade and Development (UNCTAD) – World Investment Report |
Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 103 out of 190 countries (2019) Subcategories: Starting a Business: 62 out of 190 countries Dealing with Construction Permits: 69 out of 190 countries Getting Electricity: 95 out of 190 countries Registering Property: 166 out of 190 countries Getting Credit: 48 out of 190 countries Protecting Minority Investors: 153 out of 190 countries Paying Taxes: 102 out of 190 countries Trading across Borders: 97 out of 190 countries Enforcing Contracts: 98 out of 190 countries Resolving Insolvency: 138 out of 190 countries |
Global competitiveness ranking | N/A |
Index of Economic Freedom |
Ranking: 108 / Score: 57.7 (Mostly unfree) (2019) (100=totally free 0=totally repressed) |
Population & Geographic Data
Total Area | 747 sq km |
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Total Population |
1990 0.1 0.1 0.1 Million 2000 0.1 Million 2010 0.1 Million 2015 0.1 Million 2020* 0.1 Million *Estimate |
Urban population as % of total population |
1960 17.6% 1980 21.2% 2000 23.0% 2018 23.1% |
Population median age | 23.3 years (2018 estimate) |
Population growth rate | -0.1% (2018 estimate) |
Life expectancy |
76.6 years (2018 estimate) CIA World Factbook / Life expectancy |
% of population living on less than $3.10 a day | 7.5% (2015 estimate) |
Inequality of wealth distribution (Gini index) | 37.6 (2015 estimate) |
Freedom House rating |
Political Rights: 2 Civil Liberties: 2 (2019) (1 represents the most free, 7 the least free rating) |
Total telephone subscribers as % of population |
Fixed 14.4% Mobile: 105.8% (2017) (fixed-telephone subscribers and mobile-cellular subscribers) |
Internet users as % of total population | 41.25% (2017) |
Language & Religon
Languages | Tongan and English 76.8%, Tongan, English, and other language 10.6%, Tongan only (official) 8.7%, English only (official) 0.7%, other 1.7%, none 2.2% (2016 est.) |
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Literacy |
Total population: 99.4% Male: 99.3% Female: 99.4% (2015 est.) (can read and write Tongan and/or English) |
Religions | Protestant 64.1% (includes Free Wesleyan Church 35%, Free Church of Tonga 11.9%, Church of Tonga 6.8%, Assembly of God 2.3%, Seventh Day Adventist 2.2%, Tokaikolo Christian Church 1.6%, other 4.3%), Mormon 18.6%, Roman Catholic 14.2%, other 2.4%, none 0.5% |
World Rankings
Population | 0.1 million |
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Mercer Cost of living index | N/A |
C02 Emissions per capita | 1.2 metric tons per capita (2014) |
Global Finance Rankings & Awards: Tonga
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000