Wallis and Futuna Economy

Is Wallis and Futuna a rich country?

The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings coming from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. However, roughly 70% of the labor force is employed in the public sector, although only about a third of the population is in salaried employment.

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. France directly finances the public sector and health-care and education services. It also provides funding for key development projects in a range of areas, including infrastructure, economic development, environmental management, and health-care facilities.

A key concern for Wallis and Futuna is an aging population with consequent economic development issues. Very few people aged 18-30 live on the islands due to the limited formal employment opportunities. Improving job creation is a current priority for the territorial government.

Wallis and Futuna Economy Data

What is the GDP of Wallis and Futuna?

GDP - Gross Domestic Product (PPP) $60,000,000 (USD)
GDP - official exchange rate $0 (USD)
GDP - official exchange rate note NA
GDP - real growth rate note NA
GDP Per Capita $3,800.00 (USD)
Inflation Rate 2.8%
Labor Force 3,104
Labor Force By Occupation- agriculture 80%
Labor Force By Occupation- industry 4%
Labor Force By Occupation- services 16%
Unemployment Rate 15.2%
Fiscal Year calendar year
Annual Budget $29,730 (USD)
Public Debt (% of GDP) 5.6%
Major Industries copra, handicrafts, fishing, lumber
Agriculture Products breadfruit, yams, taro, bananas; pigs, goats
Currency Code Comptoirs Francais du Pacifique franc (XPF)

Labor Force by Occupation- As reported by Wallis and Futuna

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