stments and
conservative withdrawals, this Fund has grown from an initial $17
million to over $35 million in 1999. The US government is also a major
revenue source for Tuvalu, with 1999 payments from a 1988 treaty on
fisheries at about $9 million, a total which is expected to rise
annually. 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%. In 1998,
Tuvalu began deriving revenue from use of its area code for "900"
lines and from the sale of its ".tv" Internet domain name. Royalites
from these new technology sources could raise GDP three or more times
over the next decade. Low-lying Tuvalu is particularly vulnerable to
any rise in the sea level from future global warming.

GDP: purchasing power parity - $7.8 million (1995 est.)

GDP - real growth rate: 8.7% (1995 est.)

GDP - per capita: purchasing power parity - $800 (1995 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): 3.9% (average 1985-93)

Labor force: NA

Labor force - by occupation: people make a living mainly through
exploitation of the sea, reefs, and atolls and from wages sent home by
those working abroad (mostly workers in the phosphate industry and
sailors)

Unemployment rate: NA%

Budget:
revenues: $4.3 million
expenditures: $4.3 million, including capital expenditures of $NA
(1989 est.)

Industries: fishing, tourism, copra

Industrial production growth rate: NA%

Electricity - production: 3 million kWh (1995)

Electricity - production by source:
fossil fuel: NA%
hydro: NA%
nuclear: NA%
other: NA%

Electricity - consumption: 3 million kWh (1995)

Electricity - exports: 0 kWh (1995)

Electricity - imports: 0 kWh (1995)

Agriculture - products: coconuts; fish

Exports: $165,000 (f.o.b., 1989)

Exports - commodities: copra

Exports - partners: Fiji, Australia, NZ

Imports: $4.4 million (c.i.f., 1989)

Imports - commodities: food, animals, mineral fuels, machinery,
manufactured goods

Imports - partners: Fiji, Australia, NZ

Debt - external: $NA

Economic aid - recipient: $7.9 million (1995); note - substantial
annual support from an international trust fund

Currency: 1 Tuvaluan dollar ($T)