The additional strategic areas are climate change; environment; migration and urbanization; and oceans and seas. [28] The ADB identified that the number of Tuvaluans employed as seafarers has decreased steadily from about 340 in 2001 to only 205 in 2010; so that of a total pool of 800 qualified seafarers, including those on leave, almost 450 were unemployed. Its modern usage is “place of identity and confidence, where good deeds are recorded”. Given the absence of natural resources (apart from tuna in the territorial waters), and the constrains imposed on the Tuvaluan economy by its remoteness and lack of economies of scale, practical policies are needed for improvements to the livelihoods of the growing numbers of young Tuvaluans who aspire to a more affluent lifestyle than older generations. To improve aid effectiveness, the government of Tuvalu, ADB, AusAID, and NZAID signed the Development Partners Declaration (DPD) in 2009. Search and explore the world’s largest statistical database to find data. In 2019, GDP for Tuvalu was 0.04 billion US dollars.

);[12] $3,800 (2017 est. Tuvalu participates in the Enhanced Integrated Framework for Trade-Related Technical Assistance to Least Developed Countries, which was established in October 1997 under the auspices of the World Trade Organisation. It is calculated without making deductions for depreciation of fabricated assets or for … The operation of the Trust Fund through two accounts assists in stabilising the long-term financial situation of the Government of Tuvalu as well as addressing short-term budget needs. Please check your download folder. There is no apparent large income disparity among the residents, although virtually the only jobs in the islands that pay a steady wage or salary are with the government, which make up about two-thirds of those in formal employment. Taina within the Tuvaluan Exclusive Economic Zone (EEZ) and other Pacific Island waters. Though Tuvalu real GDP growth fluctuated substantially in recent years, it tended to increase through 2005 - 2019 period ending at 6 % in 2019. Since 2002 economic growth has slowed as Tuvalu was exposed to rapid rises in world prices of fuel and food with the level of inflation peaking at 13.4% in 2008,[34] and falling to -1¾% in November 2010. Details.

[47] In 2018 the TTF amounted to about A$179 million.[17].

-tenths of one percent less than the figure of 4.6% published in 2017.
The capital of the Trust Fund is known as the “A Account”. The value of these remittances was valued at A$4 million (est.

This equates to an average of $55,000 spent per island per year.[52]. 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. Tausoalima means “hand of friendship” and Falekaupule means traditional island meeting hall.

Payments from US government made under the South Pacific Tuna Treaty (SPTT) was about $9 million in 1999.

); 1.33 (2015 est.

Prime Minister Enele Sopoaga said that this deferral was necessary to maintain access by Tuvalu to the funds provided by the United Nations's National Adaptation Programme of Action (NAPA), as “Once Tuvalu graduates to a developed country, it will not be considered for funding assistance for climate change adaptation programmes like NAPA, which only goes to LDCs”.

World and regional statistics, national data, maps and rankings, Latest releases of new datasets and data updates from different sources around the world. Our tools allow individuals and organizations to discover, visualize, model, and present their data and the world’s data to facilitate better decisions and better outcomes. Annual percentage growth rate of GDP at market prices based on constant local currency. Where buy-to-let property earns the most; It's cashing in thanks to Twitch", "United States and Pacific Islands Strengthen Fisheries Cooperation", "US signs new tuna agreement with the Pacific", "TWCPFC13: Don't forget Article 30- Tuvalu reminds Tuna Commission of 'disproportionate burden' for SIDS", "Tuvalu: Country Operations Business Plan (2012-2014)", "United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States", "Tuvalu – Draft Country Review Paper, Implementation in Asia and the Pacific of the Brussels Programme of Action for the Least Developed Countries for the Decade 2001–2010: progress made, obstacles encountered and the way forward", "Tuvalu wants changes in assessment of LDC criteria", "Overview of Australia's aid program to Tuvalu", "European Commission launches new wave of development strategies with 13 Pacific Island States (IP/07/1552)", "World Bank Approves Additional Funds for Tuvalu", "Tuvalu - Draft Country Review Paper, Implementation in Asia and the Pacific of the Brussels Programme of Action for the Least Developed Countries for the Decade 2001-2010: progress made, obstacles encountered and the way forward", "Tuvalu signs PIDF Charter and formally joins PIDF", "PACER-Plus Regional Trade Agreement Signed In Tonga Ceremony", "Tuvalu's National Adaptation Programme of Action", "2017 TUVALU NATIONAL BUDGET SPEECH By the Honourable Maatia Toafa Deputy Prime Minister and Minister for Finance and Economic Development", "Government of Tuvalu 2017 National Budget", https://en.wikipedia.org/w/index.php?title=Economy_of_Tuvalu&oldid=978082160, Wikipedia articles incorporating text from the World Factbook, Creative Commons Attribution-ShareAlike License, Funded by: development partner assistance – recurrent, Funded by: development partner assistance – non recurrent. [4] With a capital value of about 3.5 times GDP, the TTF provides an important cushion for Tuvalu's volatile income sources from fishing and royalties from the sale of the dot-TV domain. [27] This project was completed in 2011.


This is some $3.5 million higher than the market value of $23.8 million. The consequence is that remittances from seafarers to their families in Tuvalu fell by about 9% of GDP for Tuvalu. Electricity - installed generating capacity: 5,100 kW (2011)[12], Electricity - from fossil fuels: 96% of total installed capacity (2015 est. ); $136.5 million (2013 est. If you use our datasets on your site or blog, we ask that you provide attribution via a link back to this page. Curated by Knoema’s data analysts to deliver leading short-term and long-term indicators and forecasts from trusted sources for each of the covered industries. [32], While a budget deficit of A$0.4 million was projected for 2015, the ADB assessed the budget as being A$14.3m in surplus as the result of high tuna fish license fees.

Real GDP (constant, inflation adjusted) of Tuvalu reached $40,487,384 in … GDP 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. The International Monetary Fund 2014 Country Report described the effect of the GFC as reducing demand for the services of Tuvaluan seafarers.

The majority of visitors to Tuvalu are government officials, aid workers, NGO officials or consultants. We have provided a few examples below that you can copy and paste to your site: Your image export is now complete.

); 1.1094 (2013 est. Definition: This entry gives GDP growth on an annual basis adjusted for inflation and expressed as a percent. The absolute value of GDP in Tuvalu rose €0 $2 million with respect to 2017.

[76], Tuvalu's National Adaptation Programme of Action (NAPA) describes a response to the climate change problem as using the combined efforts of several local bodies on each island that will work with the local community leaders (the Falekaupule). [64][71] In 2013 Tuvalu deferred its graduation from Least Developed Country status to a developing country to 2015. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. [22] In terms of physical land size, at just 26 square kilometres (10 sq mi) Tuvalu is the fourth smallest country in the world; as compared to its immediate neighbours, Tuvalu is larger than Nauru, which is 21 km2 (8.1 sq mi), and smaller than Kiribati, which comprises groups of atolls dispersed over 3.5 million square kilometres, (1,351,000 square miles) of the Pacific Ocean.

[3] In May 2013 representatives from the United States and the Pacific Islands countries agreed to sign interim arrangement documents to extend the Multilateral Fisheries Treaty (which encompasses the South Pacific Tuna Treaty) to confirm access to the fisheries in the Western and Central Pacific for US tuna boats for 18 months.

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