Indicators of economy in Tonga
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Tonga, on the other hand, reached USD 4,426 per capita, or 469.23 million USD for the whole country. Tonga is currently at number 203 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant, taking purchasing power parity into account, then Tonga ranks 130th in the list of the richest countries.Inflation in Tonga in 2021 was around 5.64%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 23.5 percent lower.
The index for perceived corruption in the public sector is 31, which is below average by global standards.
Back to overview: Tonga
Impact of the COVID-19 pandemic
The consequences of the COVID pandemic were not insignificant in Tonga 2020. Overall, gross domestic product in 2020 fell from 512.06 million US dollars to 484.81 million US dollars. With a drop of 5.3 percent, the economy in Tonga suffered more significant losses than other countries. The tourism sector alone slumped by around 16 percent. The unemployment rate rose from 3.1 to 3.6 percent. The inflation rate fell from 1.2 percent previously to -0.3 percent by the end of 2020.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Tonga Total | Tonga per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 469.23 m USD | 4,426.00 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 522.27 m USD | 4,926.27 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in millions of USD 1975 - 2021
› Debt budget development
› Development of inflation
› Corruption in Tonga
› Cost of living in a global comparison
› Development of inflation
› Corruption in Tonga
› Cost of living in a global comparison
Imports and Exports 2021
Tonga Total | Tonga per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 285.68 m USD | 2,694.66 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 58.75 m USD | 554.16 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in millions of USD 1971 - 2021
Exports
Imports