Tuvalu Economy

Is Tuvalu a wealthy country?

Despite its small size and remote location, Tuvalu has a developing economy that relies on a mix of traditional subsistence farming, fishing, and international aid.

Agriculture and fishing are the mainstay of the Tuvaluan economy. The majority of the population engage in subsistence farming, growing crops such as pulaka, taro, and bananas, as well as fishing for tuna, trevally, and other marine species. The government has also invested in developing the country's aquaculture industry, which involves farming fish and shellfish in ponds and tanks.

In addition to traditional agriculture and fishing, Tuvalu also relies heavily on international aid. The country is one of the smallest and poorest nations in the world, with limited natural resources and infrastructure. As such, it has received significant aid from international organizations such as the World Bank, the Asian Development Bank, and the United Nations Development Programme. Much of this aid has been directed towards improving access to clean water, sanitation, and healthcare, as well as developing the country's infrastructure, including roads, airports, and telecommunications networks.

Another important sector of the Tuvaluan economy is the tourism industry. While the country is not a major tourist destination, it does receive a small number of visitors each year who come to experience the unique culture and natural beauty of the atolls. The government has invested in developing tourism infrastructure, including the construction of hotels and guesthouses, as well as promoting Tuvalu as an eco-friendly and sustainable travel destination.

Despite its modest economic growth, Tuvalu still faces significant challenges. The country is highly vulnerable to the impacts of climate change, including rising sea levels, increased frequency of storms and floods, and saltwater intrusion into the limited freshwater supply. These challenges threaten the country's food security, infrastructure, and economy, and require significant investments in adaptation and mitigation measures.

Tuvalu Economy Data

What is the GDP of Tuvalu?

Currency Name and Code Austrlian Dollar (AUD)
GDP - Gross Domestic Product (PPP) $50,000,000 (USD)
GDP - official exchange rate $34,000,000 (USD)
GDP - real growth rate 3.5%
GDP Per Capita $3,400.00 (USD)
GDP by Sector- agriculture 24.5%
GDP by Sector- Industry 5.6%
GDP by Sector- services 70%
Inflation Rate 3.8%
Labor Force 3,615
Labor Force by Occupation - note people make a living mainly through exploitation of the sea, reefs, and atolls and through overseas remittances (mostly from workers in the phosphate industry and sailors)
Fiscal Year calendar year
Annual Budget $21,540,000 (USD)
Budget Surplus or Deficit - percent of GDP -4%
Taxes and other revenues - percent of GDP 56.7%
Major Industries fishing, tourism, copra
Agriculture Products coconuts; fish
Exchange Rate per US Dollar Australian dollar (AUD); note - there is also a Tuvaluan dollar

Labor Force by Occupation- As reported by Tuvalu

All Countries
Afghanistan Akrotiri Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burma Burundi Cabo Verde Cambodia Cameroon Canada Cayman Islands Central African Republic Chad Chile China Christmas Island Clipperton Island Cocos (Keeling) Islands Colombia Comoros Congo, Democratic Republic of the Congo, Republic of the Cook Islands Coral Sea Islands Costa Rica Cote d’Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Dhekelia Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Eswatini Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia, The Gaza Strip Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Holy See Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Jan Mayen Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea, North Korea, South Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Macedonia Northern Mariana Islands Norway Oman Pakistan Palau Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena, Ascension, and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa Spain Sri Lanka Sudan Sudan, South Suriname Svalbard Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States (US) Uruguay Uzbekistan Vanuatu Venezuela Vietnam Virgin Islands Wake Island Wallis and Futuna West Bank Western Sahara World Yemen Zambia Zimbabwe