Find Industry and Manufacturing expertise in Tonga
Manufacturing contributed 7.4% of GDP to Tonga’s economy in 2011, while the value added figure for industry stood at 22.4% of GDP in 2011 (World Bank). Annual percentage growth for manufacturing was 7.2% in 2011, a significant change from the 2011 rate of -2.5% (World Bank). Vanuatu has been classified 62nd out of 185 countries by the World Bank for ease of doing business, a ranking based on how conducive the regulatory environment is to the opening and operation of a local firm. Industrial production was growing at a rate of around 0.5% in 2012, with the main industries being tourism, construction and fishing.
Agricultural products such as squash, fish, vanilla beans and root crops make up the majority of exports. In 2012, exports contributed approximately US$8.4 million to the economy, an increase of US$0.4 million on 2011 estimates (CIA World Factbook). In 2012, Tonga’s main export partners were South Korea, US, New Zealand and Fiji.
Imports tend to be made up of foodstuffs, machinery and transport equipment, fuels, and chemicals. In 2012 imports totalled approximately $121.9 million, down from $131 million in 2011 (CIA World Factbook). Goods and services are imported primarily from Fiji and New Zealand.
The Ministry of Commerce and Tourism is the main governmental body concerned with industry, the labour market and consumer rights. Several sub-sections of the ministry deal with industry and manufacturing, working to promote investment and industrial development in Tonga.