Wallis and Futuna Economy Profile 2008

Economy - overview

The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.

GDP (purchasing power parity)

$60 million (2004 est.)

GDP (official exchange rate)

$NA

GDP - real growth rate

NA%

GDP - per capita (PPP)

$3,800 (2004 est.)

GDP - composition by sector

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

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices)

2.8% (2005)

Labor force

3,104 (2003)

Labor force - by occupation

agriculture: 80%
industry: 4%
services: 16% (2001 est.)

Unemployment rate

15.2% (2003)

Budget

revenues: $29,730
expenditures: $31,330 (2004)

Public debt

5.6% of GDP (2004 est.)

Industries

copra, handicrafts, fishing, lumber

Industrial production growth rate

NA%

Electricity - production

NA kWh

Electricity - consumption

NA kWh

Electricity - exports

0 kWh (2002)

Electricity - imports

0 kWh (2002)

Agriculture - products

breadfruit, yams, taro, bananas; pigs, goats; fish

Exports

$47,450 f.o.b. (2004)

Exports - commodities

copra, chemicals, construction materials

Exports - partners

Italy 40%, Croatia 15%, US 14%, Denmark 13% (2006)

Imports

$61.17 million f.o.b. (2004)

Imports - commodities

chemicals, machinery, passenger ships, consumer goods

Imports - partners

France 97%, Australia 2%, NZ 1% (2006)

Debt - external

$3.67 million (2004)

Economic aid - recipient

assistance from France, $NA

Currency (code)

Comptoirs Francais du Pacifique franc (XPF)

Exchange rates

Comptoirs Francais du Pacifique francs (XPF) per US dollar - NA (2007), 95.03 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003)

Fiscal year

calendar year