PACIFIC ISLANDS BUSINESS INDICATORS
| Tuvalu | |
| Exchange Rate: 1 $ Local currency = x $US | |
| Currency | AUS$ |
| Calendar Year 1996 | 0.78 |
| Calendar Year 1997 (used in tables) | 0.75 |
| Q1 1998 | 0.67 |
| % Change 1996 - Q1 1998 | -14% |
GENERAL |
|
Land Area |
26 km2 |
EEZ |
900,000 km2 |
GDP |
US$12 million (1996) |
GNP per Capita |
US$1,212 (1996) |
Human Development Index |
0.652 (1994) |
| LABOUR FORCE CONTEXT | |
| Population (1,000s latest census) 1 | 10 |
| Potential Labour Force, age 15-59 | 5.60 |
| Unpaid/underemployed labour force (%) 2 | |
| male | 64 |
| female | 82 |
| Quality of Local Labour Force3 | |
| Adult literacy rate (%) | 90 |
| Enrolment rate secondary schools (%) | 89 |
| LABOUR FORCE CONDITIONS | |
| Legislated minimum wage | - |
| Average Wage Rates ($per hour)4 | |
| Managerial | 5.70 |
| Supervisory | 3.80 |
| Skilled | 2.60 |
| Semi Skilled | 1.40 |
| Unskilled | 1.10 |
| Normal number of hours work per week | 37.50 |
| No. paid holidays per year | 12 |
| Employer Contributions (% wage bill) | |
| Workers Superannuation Fund | |
| compulsory? | Yes |
| rate (%) | 5 |
| Western Compensation Fund | |
| compulsory? | Yes |
| rate (%)5 | 1 |
| Electricity | |
| connection fee | 188 |
| tariff per kilowat hour | 0.26 |
| Water & Sewage | |
| water connection fee ($) | n/a |
| sewage connection fee | - |
| sewage rate | - |
| Telephone | |
| installation fee ($) | 38 |
| line/equipment rental rate ($) per year | 90 |
| rate per local call ($) | 0.08 |
| long distance rates ($) per minute | |
| Japan (Tokyo) | 3.00 |
| USA (Los Angeles) | 3.00 |
| United Kingdom (London) | 3.00 |
| Australia (Sydney) | 1.10 |
| New Zealand (Auckland) | 1.90 |
| Singapore | 3.00 |
| Neighbouring Forum Island countries | |
| Tonga | |
| Samoa | |
| Fiji | 1.50 |
| Papua New Guinea | |
| Vanuatu | |
| Marshall Islands | 1.88 |
| Tuvalu | |
| Kiribati | 1.88 |
| Federated States of Micronesia | |
| Solomon Islands | |
| Cook Islands | |
| Nauru | |
| Palau | |
| Total Cost 1 year of service 1 | 3,020 |
| Internet/E-mail | |
| connection fee | not |
| rental rate per year | available |
| no. free hours per month included in rental | |
| rate per additional hour use | |
| Total cost 1 year of service2 | |
| Sea Freight (cif) per cubic metre 1 | |
| Japan (Tokyo) | 105 |
| USA (Los Angeles) | 146 |
| United Kingdom (London) | |
| Australia (Sydney) | 71 |
| New Zealand (Auckland) | 64 |
| Singapore | 117 |
| Neighbouring Forum Island Countries | |
| Tonga | 68 |
| Samoa | 68 |
| Fiji | 44 |
| Marshall Islands | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Kiribati | |
| Federated States of Micronesia | |
| Air Freight (cif) per kilogram | |
| Japan (Tokyo) | 8.90 |
| USA (Los Angeles) | 8.40 |
| United Kingdom (London) | 14.20 |
| Australia (Sydney) | 5.20 |
| New Zealand (Auckland) | 4.60 |
| Singapore | 8.90 |
| Neighbouring Forum Island Countries | |
| Tonga | 3.90 |
| Samoa | 3.60 |
| Fiji | 2.40 |
| Marshall Islands | |
| Kiribati | |
| Federated States of Micronesia | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Land | |
| total area (sq kilometers | 26 |
| Customary land | |
| Proportion customarily owned (%) | 100 |
| Max period for commercial lease (yrs) | 25 |
| Average lease rate per acre per annum | |
| agricultural land ($) | 980 |
| commercial land ($) | 980 |
| Free hold land | |
| average purchase price per acre | |
| Factory Space | |
| average annual rental price per sq ft | 2.30 |
| Commercial Banking | |
| Commercial Banks, excl Dev Banks (No) | 1 |
| Lending rate range (% per annum) | 8.0-11.0 |
| Average lending rate (% per annum) | 9.50 |
| Personal Tax Rates (Brackets) | |
| No tax | <2,015 |
| rate of 5% | |
| rate of 6% | |
| rate of 8% | |
| rate of 10% | |
| rate of 12% | |
| rate of 15% | |
| rate of 20% | |
| rate of 25% | |
| rate of 30% | >2,015 |
| rate of 35% | |
| rate of 37% | |
| rate of 40% | |
| Company Tax Rate (%) | |
| Resident Company | |
| General | 30 |
| Mining | |
| Petroleum | |
| Non-Resident Company | |
| General | 40 |
| Mining | |
| Petroleum | |
| Other Taxes & Fees | |
| Business Gross Receipt tax (%) | |
| GST/Value added tax (%) | - |
| Sales tax (%) | 5 |
| Annual business licence fees ($) | Oct-75 |
| Import Duty Rates (% range) | |
| manufacturing inputs | 0 |
| general (excluding cigarettes, liquor et) | 20-40 |