Compare Tuvalu (2007) - Tuvalu (2008)

Compare Tuvalu (2007) z Tuvalu (2008)

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	Tuvalu (2007)	Tuvalu (2008)

Economy - overview	Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. The country has no known mineral resources and few exports. Subsistence farming and fishing are the primary economic activities. Fewer than 1,000 tourists, on average, visit Tuvalu annually. Government revenues largely come from the sale of stamps and coins and remittances from seamen on merchant ships abroad. About 1,000 Tuvaluans are being repatriated from Nauru, with the decline of phosphate resources there. Substantial income is received annually from an international trust fund established in 1987 by Australia, NZ, and the UK and supported also by Japan and South Korea. Thanks to wise investments and conservative withdrawals, this fund grew from an initial $17 million to over $35 million in 1999. The US Government is also a major revenue source for Tuvalu because of payments from a 1988 treaty on fisheries. In an effort to reduce its dependence on foreign aid, the government is pursuing public sector reforms, including privatization of some government functions and personnel cuts of up to 7%. Tuvalu derives around $1.5 million per year from the lease of its ".tv" Internet domain name. With merchandise exports only a fraction of merchandise imports, continued reliance must be placed on fishing and telecommunications license fees, remittances from overseas workers, official transfers, and income from overseas investments.	Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. The country has no known mineral resources and few exports. Subsistence farming and fishing are the primary economic activities. Fewer than 1,000 tourists, on average, visit Tuvalu annually. Government revenues largely come from the sale of stamps and coins and remittances from seamen on merchant ships abroad. Substantial income is received annually from an international trust fund established in 1987 by Australia, NZ, and the UK and supported also by Japan and South Korea. Thanks to wise investments and conservative withdrawals, this fund grew from an initial $17 million to over $35 million in 1999. The US Government is also a major revenue source for Tuvalu because of payments from a 1988 treaty on fisheries. In an effort to reduce its dependence on foreign aid, the government is pursuing public sector reforms, including privatization of some government functions and personnel cuts of up to 7%. Tuvalu derives around $1.5 million per year from the lease of its ".tv" Internet domain name. With merchandise exports only a fraction of merchandise imports, continued reliance must be placed on fishing and telecommunications license fees, remittances from overseas workers, official transfers, and income from overseas investments.
Exchange rates	Tuvaluan dollars or Australian dollars per US dollar - 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003), 1.8406 (2002)	Tuvaluan dollars or Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003)
International organization participation	ACP, AsDB, C, FAO, IFRCS (observer), IMO, ITU, OPCW, PIF, Sparteca, SPC, UN, UNCTAD, UNESCO, UPU, WHO	ACP, ADB, C, FAO, IFRCS (observer), IMO, IOC, ITU, OPCW, PIF, Sparteca, SPC, UN, UNCTAD, UNESCO, UPU, WHO
Telephones - main lines in use	700 (2002)	900 (2005)
Telephones - mobile cellular	0 (2004)	1,300 (2005)

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