Tuvalu
Introduction
In 1974, ethnic differences within the British colony of the Gilbert and Ellice Islands caused the Polynesians of the Ellice Islands to vote for separation from the Micronesians of the Gilbert Islands. The following year, the Ellice Islands became the separate British colony of Tuvalu. Independence was granted in 1978. In 2000, Tuvalu negotiated a contract leasing its Internet domain name ".tv" for $50 million in royalties over a 12-year period.
Capital
Funafuti
Official Languages
Tuvaluan, English
Currency
Tuvaluan dollars or Australian dollars (AUD) per US dollar
Geography
Location
Oceania, island group consisting of nine coral atolls in the South Pacific Ocean, about one-half of the way from Hawaii to Australia
Area
Total: 26 sq. km land: 26 sq. km water: 0 sq. km
Climate
Tropical; moderated by easterly trade winds (March to November); westerly gales and heavy rain (November to March)
Natural resources
Fish, coconut (copra)
Land use
Agricultural land: 60%arable land 0%; permanent crops 60%; permanent pasture 0%forest: 33.3%other: 6.7% (2011 est.)
Economy
Overview
Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. Only eight of the atolls are inhabited. It is one of the smallest countries in the world, with its highest point at 4.6 meters above sea level. The country is isolated, almost entirely dependent on imports, particularly of food and fuel, and vulnerable to climate change and rising sea levels, which pose significant challenges to development. The public sector dominates economic activity. Tuvalu has few natural resources, except for its fisheries. Earnings from fish exports and fishing licenses for Tuvalu’s territorial waters are a significant source of government revenue. In 2013, revenue from fishing licenses doubled and totaled more than 45% of GDP. Official aid from foreign development partners has also increased. Tuvalu has substantial assets abroad. The Tuvalu Trust Fund, an international trust fund established in 1987 by development partners, has grown to $141 million in 2013 and is an important cushion for meeting shortfalls in the government's budget. While remittances are another substantial source of income, the value of remittances has declined since the global financial crisis of 2008. Growing income inequality is one of many concerns for the nation..
Agriculture Products
Coconuts; fish
Industries
Fishing
Exports Commodities
Copra, fish
Imports Commodities
Food, animals, mineral fuels, machinery, manufactured goods
Useful Links
Government of Tuvalu
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