Confidus Solutions logotype

Confidus Solutions

Economy of Tuvalu

Tuvalu is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developing nation, Tuvalu may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Tuvalu exports around $0 billion and imports roughly $0.02 billion. 39.6% of population in the country are unemployed. The total number of unemployed people in Tuvalu is 4,470. The Gini Index of the country is 34. Tuvalu is experiencing good equality. The majority of citizens in Tuvalu fall within a narrow range of income, although some cases may show significant differences.

Currency

The currency of Tuvalu is Tuvaluan dollar. The plural form of the word Tuvaluan dollar is dollars. The symbol used for this currency is $, and it is abbreviated as TVD. The Tuvaluan dollar is divided into Cent; there are 100 in one dollar.

Credit rating

Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of Tuvalu.

Central bank

Public debt

Tuvalu has a government debt of 41% of the country's Gross Domestic Product (GDP), as assessed in 2014.

Tax information

The corporate tax in Tuvalu is set at 30%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tuvalu is $35 billion. The Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) per capita in Tuvalu was last recorded at $3 million. PPP in Tuvalu is considered to be below average when compared to other countries. Below average PPP indicates that citizens in this country find it difficult to purchase local goods. Local goods can include food, shelter, clothing, health care, personal care, essential furnishings, transportation and communication, laundry, and various types of insurance. Countries with below average PPP are dangerous locations for investments. The total Gross Domestic Product (GDP) in Tuvalu is 0 billion. Based on this statistic, Tuvalu is considered to have a small economy. Countries with small economies generally support less industries and opportunities for investment. However, worthwhile investment opportunities may be found. The Gross Domestic Product (GDP) per capita in Tuvalu was last recorded at $0 million. The average citizen in Tuvalu has very low wealth. Countries with very low wealth per capita often have lower life expectancies and dramatically lower quality of living among citizens. It can be very difficult to find highly skilled workers in countries with very low wealth, as it is difficult for citizens to obtain the requisite education needed for specialized industries. However, labor can be found for very low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in Tuvalu averaged 2.2% in 2014. According to this percentage, Tuvalu is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of Tuvalu.

Industry

Major industries in the country are fishing. The total labor force of Tuvalu is 5,868 people, wherein 39.6% of population in the country are unemployed. The total number of unemployed people in Tuvalu is 4,470. To read more about industrial information within Tuvalu click on industry of Tuvalu.

Agriculture

There are 0 km2 of arable land in Tuvalu, and it comprises 0% of the country's total territory. There are 17 km2 of cultivated land in Tuvalu. The country's major agricultural crops and products are coconuts, fish.To read more about agriculture click on agriculture of Tuvalu.