Tokelau Economy Profile 2008

Economy - overview

Tokelau's small size (three villages), isolation, and lack of resources greatly restrain economic development and confine agriculture to the subsistence level. The people rely heavily on aid from New Zealand - about $4 million annually - to maintain public services with annual aid being substantially greater than GDP. The principal sources of revenue come from sales of copra, postage stamps, souvenir coins, and handicrafts. Money is also remitted to families from relatives in New Zealand.

GDP (purchasing power parity)

$1.5 million (1993 est.)

GDP (official exchange rate)

$NA

GDP - real growth rate

NA%

GDP - per capita (PPP)

$1,000 (1993 est.)

GDP - composition by sector

agriculture: NA%
industry: NA%
services: NA%

Population below poverty line

NA%

Inflation rate (consumer prices)

NA%

Labor force

440 (2001)

Unemployment rate

NA%

Budget

revenues: $430,800
expenditures: $2.8 million (1987 est.)

Industries

small-scale enterprises for copra production, woodworking, plaited craft goods; stamps, coins; fishing

Electricity - production

NA kWh

Electricity - consumption

NA kWh

Agriculture - products

coconuts, copra, breadfruit, papayas, bananas; pigs, poultry, goats; fish

Exports

$0 (2002)

Exports - commodities

stamps, copra, handicrafts

Exports - partners

New Zealand (2006)

Imports

$969,200 c.i.f. (2002)

Imports - commodities

foodstuffs, building materials, fuel

Imports - partners

New Zealand (2006)

Currency (code)

New Zealand dollar (NZD)

Exchange rates

New Zealand dollars per US dollar - 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004), 1.7221 (2003)

Fiscal year

1 April - 31 March