Includes historical data for Tonga’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Remittances And Overseas Assistance Economically Crucial
Consisting of a group of 176 islands in the South Pacific, the Kingdom of Tonga is the last Polynesian monarchy. A former British protectorate, Tonga became fully independent in 1970 and voted in its first popularly elected parliament in 2010, ending 165 years of feudal rule. Tonga’s economy relies mainly on agriculture, fishing and tourism, and remains dependent on external assistance and overseas remittances.
This nation of approximately just 100,000 people faces many of the challenges typical for small island developing states, including geographical isolation, limited financial resources and the high costs of importing goods and providing basic services. Unemployment, particularly among the youth, is high. Inconsistent regulations, lack of transparency and incentives to open the economy further deter investment and private business initiatives.
Macroeconomy & Sovereign Data
| Type of Government | Constitutional monarchy |
|---|---|
| Capital | Nuku’alofa |
| Sovereign Ratings |
S&P: Not rated Moody’s: Not rated Fitch: Not rated |
| Total Population | 99,000 |
| Median Age | 21.9 |
| Adult Per Capita Income (PPP) | 12,316.47 |
| Total GDP (2023) | 0.6 billion |
Tonga GDP & Economic Overview
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Trade & Investment
| Total Exports | USD 265.6 million (2022) |
|---|---|
| Leading Exports |
Refined Petroleum Poultry Meats Cars Mutton Goat Meat Lumber X-Ray Equipment Broadcasting Equipment |
| Total Imports | USD 12.6 million (2022) |
| Leading Imports |
Natural Gas Shellfish Various Fruits And Nuts Vegetables Cassava Coral And Shells |
| Source: | World Integrated Trade Solution |
Tonga Leading Companies
| Tonga Development Bank | Financials |
|---|---|
| Tonga Communication Corporation | Telecommunication Services |
| Tonga Power | Utilities, Electricity Generation & Distribution |
| Shoreline Shipping Company | Transportation Services |
| Heilala Vanilla | Consumer Staples, Food Products |
Major Trade Partners — Import
| New Zealand | 28.6% |
|---|---|
| Singapore | 21.1% |
| United States | 10.86% |
| Japan | 8.0% |
| Fiji | 7.8% |
Major Trade Partners — Export
| New Zealand | 23.2% |
|---|---|
| Hong Kong | 17.7% |
| Unspecified | 15.5% |
| United States | 13.1% |
| Japan | 10.9% |
Global Finance Rankings & Awards
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