Wallis and Futuna Economy 2007

Economy - overview:
The economy is limited to traditional subsistence agriculture, with about 80% of labor force earnings from agriculture (coconuts and vegetables), livestock (mostly pigs), and fishing. About 4% of the population is employed in government. Revenues come from French Government subsidies, licensing of fishing rights to Japan and South Korea, import taxes, and remittances from expatriate workers in New Caledonia.

GDP (purchasing power parity):
$60 million (2004 est.)

GDP (official exchange rate):
$NA

GDP - real growth rate:
NA%

GDP - per capita (PPP):
$3,800 (2004 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Labor force:
3,104 (2003)

Labor force - by occupation:
agriculture: 80%
industry: 4%
services: 16% (2001 est.)

Unemployment rate:
15.2% (2003)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
2.8% (2005)

Budget:
revenues: $29,730
expenditures: $31,330 (2004)

Public debt:
5.6% of GDP (2004 est.)

Agriculture - products:
breadfruit, yams, taro, bananas; pigs, goats; fish

Industries:
copra, handicrafts, fishing, lumber

Industrial production growth rate:
NA%

Electricity - production:
NA kWh

Electricity - consumption:
NA kWh

Electricity - exports:
0 kWh (2002)

Electricity - imports:
0 kWh (2002)

Exports:
$47,450 f.o.b. (2004)

Exports - commodities:
copra, chemicals, construction materials

Exports - partners:
Italy 40%, Croatia 15%, US 14%, Denmark 13% (2006)

Imports:
$61.17 million f.o.b. (2004)

Imports - commodities:
chemicals, machinery, passenger ships, consumer goods

Imports - partners:
France 97%, Australia 2%, NZ 1% (2006)

Economic aid - recipient:
assistance from France, $NA

Debt - external:
$3.67 million (2004)

Currency (code):
Comptoirs Francais du Pacifique franc (XPF)

Exchange rates:
Comptoirs Francais du Pacifique francs (XPF) per US dollar - 95.03 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003), 126.71 (2002)