Is Tokelau a wealthy country?
The economic outlook for Tokelau is challenging due to the country's small size, remoteness, and limited resources. However, there are some positive developments that may help improve the country's economic prospects.
One of the most significant factors affecting the Tokelau economy is its heavy reliance on overseas aid. The New Zealand government provides significant financial assistance to Tokelau, which accounts for the majority of the country's revenue. While this aid has helped to support basic services and infrastructure development, it also makes the country vulnerable to changes in the international aid landscape.
In recent years, there has been a growing interest in tourism as a potential source of economic growth for Tokelau. The country's pristine natural environment and unique culture could attract visitors looking for an off-the-beaten-path destination. However, developing a sustainable and responsible tourism industry will require significant investment in infrastructure, marketing, and training.
Another potential area for economic development is the country's fisheries sector. The waters surrounding Tokelau are home to a variety of fish species, including tuna and skipjack. By expanding its fishing operations, Tokelau could increase its exports and generate revenue for the local economy.
Despite these opportunities, there are also significant challenges facing the Tokelau economy. The country's limited land area and natural resources make it difficult to develop new industries, while it's remote location and small population limit its market potential. Additionally, climate change and rising sea levels pose a significant threat to the country's infrastructure and way of life.
What is the GDP of Tokelau?
|Currency Name and Code||New Zealand Dollar (NZD)|
|GDP - Gross Domestic Product (PPP)||$7,711,583 (USD)|
|GDP - official exchange rate||$0 (USD)|
|GDP - official exchange rate note||NA|
|GDP - real growth rate note||NA|
|GDP Per Capita||$1,000.00 (USD)|
|Fiscal Year||1 April - 31 March|
|Annual Budget||$430,800 (USD)|
|Major Industries||small-scale enterprises for copra production, woodworking, plaited craft goods; stamps, coins; fishing|
|Agriculture Products||coconuts, copra, breadfruit, papayas, bananas; pigs, poultry, goats|
|Exchange Rate per US Dollar||New Zealand dollar (NZD)|