Short facts about the economy in Wallis and Futuna

Economy - overview:

The economy is limited to traditional subsistence agriculture, with about 80% of the labor force earning its livelihood 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 - $30 million (1997 est.)

GDP - real growth rate:

NA%

GDP - per capita:

purchasing power parity - $2,000 (1997 est.)

GDP - composition by sector:

agriculture:  NA% industry:  NA% services:  NA%

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%:  NA% highest 10%:  NA%

Inflation rate (consumer prices):

NA%

Labor force:

NA

Labor force - by occupation:

agriculture, livestock, and fishing 80%, government 4% (est.)

Unemployment rate:

NA%

Budget:

revenues:  $20 million expenditures:  $17 million, including capital expenditures of $NA (1998 est.)

Industries:

copra, handicrafts, fishing, lumber

Industrial production growth rate:

NA%

Electricity - production:

NA kWh

Electricity - production by source:

fossil fuel:  NA% hydro:  NA% nuclear:  NA% other:  NA%

Electricity - consumption:

NA kWh

Agriculture - products:

breadfruit, yams, taro, bananas; pigs, goats

Exports:

$250,000 (f.o.b., 1999)

Exports - commodities:

copra, chemicals, construction materials

Exports - partners:

Italy 40%, Croatia 15%, US 14%, Denmark 13%

Imports:

$300,000 (f.o.b., 1999)

Imports - commodities:

chemicals, machinery, passenger ships, consumer goods

Imports - partners:

France 97%, Australia 2%, New Zealand 1%

Debt - external:

$NA

Economic aid - recipient:

assistance from France

Currency:

Comptoirs Francais du Pacifique franc (XPF)

Currency code:

XPF

Exchange rates:

Comptoirs Francais du Pacifique francs (XPF) per US dollar - 1127.11 (January 2001), 129.43 (2000), 111.93 (1999), 107.25 (1998), 106.11 (1997), 93.00 (1996); note - linked at the rate of 119.25 XPF to the euro

Fiscal year:

calendar year

Source: World Factbook