International Trade in Tonga

International Trade in Tonga

This Pacific archipelago was strongly affected by the international financial crisis and its effects were, mainly, a price increase in fuels and food products, a drop in money transfers from Tongans living abroad and a decline in tourism.  The tsunami that hit the country aggravated this... Read more

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Import and Export Services in Tonga (7)

  • Heritage Destination Consulting Ltd

    Heritage Destination Consulting Ltd

    Tourism Consulting, Tonga

    International Heritage Interpretation & Heritage Tourism Destination Consultants Heritage Destination Consulting...
  • CFP International

    CFP International

    Trade Finance, Tonga

    We are CFP International. We provide unique trade finance services for import businesses around the world. We add value to our...

Business Tips About Tonga (5)

Agents and Distributors in Tonga (0)

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Overview About International Trade in Tonga

Economic Overview

This Pacific archipelago was strongly affected by the international financial crisis and its effects were, mainly, a price increase in fuels and food products, a drop in money transfers from Tongans living abroad and a decline in tourism.  The tsunami that hit the country aggravated this situation.  The GDP's growth rate had a contraction of -0.5% in 2009 and it increased slightly in 2010 (0.8%).

In response to the economic crisis, the government adopted incentive tax and monetary measures. The National Strategic Planning Framework, which defines the development goals in mid-to long terms, envisages among many issues, to establish structural reforms, to improve the efficiency of government and the quality of the services rendered and to increase the participation of the private sector.  A plan aiming to reduce the energy dependence of the country is also taking place.  

The country is facing a very high unemployment rate (over 10%), one-fifth of the population lives beyond the poverty line and the deterioration of social indicators encourages civil disturbances among those who want more democracy.

 

FDI in Figures

The islands of Tonga attract very little FDI and the fl...

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