Tonga - GDP (current US$)

The latest value for GDP (current US$) in Tonga was $488,830,000 as of 2020. Over the past 45 years, the value for this indicator has fluctuated between $512,350,000 in 2019 and $30,036,420 in 1976.

Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1975 $32,506,740
1976 $30,036,420
1977 $34,139,390
1978 $41,567,470
1979 $44,667,000
1980 $53,260,080
1981 $62,242,010
1982 $62,068,160
1983 $60,863,960
1984 $64,248,360
1985 $60,058,660
1986 $68,195,860
1987 $81,667,140
1988 $106,657,300
1989 $106,344,900
1990 $113,563,800
1991 $132,201,100
1992 $137,066,300
1993 $138,489,900
1994 $195,991,000
1995 $208,871,700
1996 $222,100,600
1997 $214,991,500
1998 $191,504,900
1999 $199,214,600
2000 $204,849,600
2001 $181,117,000
2002 $182,763,700
2003 $202,247,000
2004 $230,658,000
2005 $261,797,600
2006 $292,232,100
2007 $298,514,000
2008 $344,428,600
2009 $312,377,400
2010 $366,840,000
2011 $414,523,400
2012 $470,714,100
2013 $450,643,600
2014 $439,878,800
2015 $437,006,200
2016 $420,540,200
2017 $460,379,100
2018 $489,235,500
2019 $512,350,000
2020 $488,830,000

Limitations and Exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts