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Wallis and Futuna (overseas territory of France) Economy 1999

    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. Wallis and Futuna imports food—particularly flour, sugar, rice, and beef—fuel, clothing, machinery, and transport equipment, but its exports are negligible, consisting mostly of breadfruit, yams, and taro root.

    GDP: purchasing power parity—$28.7 million (1995 est.)

    GDP—real growth rate: NA%

    GDP—per capita: purchasing power parity—$2,000 (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): NA%

    Labor force: NA

    Labor force—by occupation: agriculture, livestock, and fishing 80%, government 4% (est.)

    Unemployment rate: NA%

    revenues: $20 million
    expenditures: $20 million, including capital expenditures of $NA (1997 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

    Electricity—exports: NA kWh

    Electricity—imports: NA kWh

    Agriculture—products: breadfruit, yams, taro, bananas; pigs, goats

    Exports: $370,000 (f.o.b., 1995 est.)

    Exports—commodities: copra, handicrafts

    Exports—partners: NA

    Imports: $13.5 million (c.i.f., 1995 est.)

    Imports—commodities: foodstuffs, manufactured goods, transportation equipment, fuel, clothing

    Imports—partners: France, Australia, New Zealand

    Debt—external: $NA

    Economic aid—recipient: $1 million (1995)

    Currency: 1 Comptoirs Francais du Pacifique franc (CFPF) = 100 centimes

    Exchange rates: Comptoirs Francais du Pacifique francs (CFPF) per US$1—102.72 (January 1999), 107.25 (1998), 106.11 (1997), 93.00 (1996), 90.75 (1995), 100.94 (1994); note—linked at the rate of 18.18 to the French franc

    Fiscal year: calendar year

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    Revised 1-Mar-99
    Copyright © 1999 Photius Coutsoukis (all rights reserved)