Tokelau - Economy
Geography - People - Economy - Government - Communications - Transportation - Military - Transnational IssuesTokelau is located Oceania, group of three atolls in the South Pacific Ocean, about one-half of the way from Hawaii to New Zealand. The climate is tropical; moderated by trade winds (April to November). The terrain is low-lying coral atolls enclosing large lagoons.
Economy - overview
This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.Economy - overview : Tokelau's small size (three villages), isolation, and lack of resources greatly restrain economic development and confine agriculture to the subsistence level. The people rely heavily on aid from New Zealand - about $4 million annually - to maintain public services with annual aid being substantially greater than GDP. The principal sources of revenue come from sales of copra, postage stamps, souvenir coins, and handicrafts. Money is also remitted to families from relatives in New Zealand.
GDP (purchasing power parity)
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per- capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP- denominated GDP values for most of the wealthy industrialized countries are generally much smaller.GDP (purchasing power parity) : $1.5 million (1993 est.)
GDP (official exchange rate)
This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at official exchange rates (OER) is the home-currency-denominated annual GDP figure divided by the bilateral average US exchange rate with that country in that year. The measure is simple to compute and gives a precise measure of the value of output. Many economists prefer this measure when gauging the economic power an economy maintains vis-a-vis its neighbors, judging that an exchange rate captures the purchasing power a nation enjoys in the international marketplace. Official exchange rates, however, can be artificially fixed and/or subject to manipulation - resulting in claims of the country having an under- or over-valued currency - and are not necessarily the equivalent of a market-determined exchange rate. Moreover, even if the official exchange rate is market-determined, market exchange rates are frequently established by a relatively small set of goods and services (the ones the country trades) and may not capture the value of the larger set of goods the country produces. Furthermore, OER-converted GDP is not well suited to comparing domestic GDP over time, since appreciation/depreciation from one year to the next will make the OER GDP value rise/fall regardless of whether home- currency-denominated GDP changed.GDP (official exchange rate) : $NA
GDP - real growth rate
This entry gives GDP growth on an annual basis adjusted for inflation and expressed as a percent.GDP - real growth rate : NA%
GDP - per capita (PPP)
This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.GDP - per capita (PPP) : $1,000 (1993 est.)
GDP
GDP - composition by sector - agriculture : NA%
GDP - composition by sector - industry : NA%
GDP - composition by sector - services : NA%
Labor force
This entry contains the total labor force figure.Labor force : 440 (2001)
Unemployment rate
This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.Unemployment rate : NA%
Population below poverty line
Population below poverty line : NA%
Budget
This entry includes revenues, expenditures, and capital expenditures. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.Budget - revenues : $430,800
Budget - expenditures : $2.8 million (1987 est.)
Fiscal year
Fiscal year : 1 April - 31 March
Inflation rate (consumer prices)
This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.Inflation rate (consumer prices) : NA%
Agriculture - products
This entry is an ordered listing of major crops and products starting with the most important.Agriculture - products : coconuts, copra, breadfruit, papayas, bananas; pigs, poultry, goats; fish
Industries
This entry provides a rank ordering of industries starting with the largest by value of annual output.Industries : small-scale enterprises for copra production, woodworking, plaited craft goods; stamps, coins; fishing
Electricity - production
This entry is the annual electricity generated expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.Electricity - production : NA kWh
Electricity - consumption
This entry consists of total electricity generated annually plus imports and minus exports, expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.Electricity - consumption : NA kWh
Electricity
Electricity - production by source - fossil fuel : 100%
Electricity - production by source - hydro : 0%
Electricity - production by source - nuclear : 0%
Electricity - production by source - other : 0% (2001)
Exports
This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.Exports : $0 (2002)
Exports - commodities
This entry provides a listing of the highest- valued exported products; it sometimes includes the percent of total dollar value.Exports - commodities : stamps, copra, handicrafts
Exports - partners
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.Exports - partners : New Zealand (2006)
Imports
This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.Imports : $969,200 c.i.f. (2002)
Imports - commodities
This entry provides a listing of the highest- valued imported products; it sometimes includes the percent of total dollar value.Imports - commodities : foodstuffs, building materials, fuel
Imports - partners
This entry provides a rank ordering of trading partners starting with the most important; it sometimes includes the percent of total dollar value.Imports - partners : New Zealand (2006)
Currency (code)
Currency (code) : New Zealand dollar (NZD)
Currency code
Currency code : NZD
Exchange rates
This entry provides the official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat. The International Organization for Standardization (ISO) 4217 alphabetic currency code for the national medium of exchange is presented in parenthesis.Exchange rates : New Zealand dollars (NZD) per US dollar - 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004), 1.7221 (2003)
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