The Gross Domestic Product (GDP) compilation for Tuvalu for the year 2024 was undertaken with the support of a technical assistance (TA) mission from the PFTAC. The mission was conducted from 22nd to 30th May 2025 by Mr. Michael Andrews, assisted the Tuvalu Central Statistics Division in updating and compiling national accounts estimates in both current and constant 2016 prices.
Tuvalu’s Gross Domestic Product (GDP) increased by 3.1 percent in real terms in 2024, marking the second consecutive year of economic recovery following the pandemic-induced downturn between 2020 and 2022. Although output has surpassed A$60.7 million at constant 2016 prices, the economy remains below its pre-COVID-19 peak of A$66.1 million recorded in 2019. Growth in 2024 was mainly driven by Construction (+32%), Hotels and Restaurants (+172%), and Trade (+19%), while Public Administration and Agriculture recorded moderate declines. The Tuvalu economy continues to be largely public-sector-driven, with government and state-owned enterprises (SOEs) accounting for about half of total GDP. Private sector activity remains limited but is gradually expanding, particularly in construction, tourism, and other services.
Real GDP Trends
Figure 1 and 2 below illustrates the trend of Real GDP at constant 2016 prices and growth for the years from 2016 to 2024.
Sectoral Performance (at Constant 2016 prices)
Sector
Share of Real GDP (2024)
2024 Growth Rate
Key Observations
Primary (Agriculture, Forestry, Fishing)
7.4 %
-6.3 %
Output declined, mainly due to reduced fishing activity and high operational costs.
The International Merchandise Trade Statistics (IMTS) provides information on Tuvalu’s exports, re-exports and imports of goods between Tuvalu, and the rest of the world. The administrative data used to compile the release is supplied by the Tuvalu Customs department through the online ASYCUDA system.
The Tuvalu CSD compiles the IMTS reports on a quarterly basis with the aim of providing users with reliable trade statistics that reflects Tuvalu’s trade performance, structural trends, and key trading partners in order to support evidence-based economic planning, policy formulation and monitoring.
Imports
The value of Imports fluctuated widely, showing strong dependence on seasonal procurement. The highest import was recorded in July 2024 while the lowest import was recorded in June 2025. This could be a reflection of irregular timing of major shipments. The figure below shows the top commodities with the greatest contribution to Tuvalu’s import from July 2024 to June 2025.
XV Base metals & articles thereof – increased by $1.32 M
IX Wood, cork & articles thereof & plaiting materials – increased by $0.45 M
X Wood pulp, paper & paperboard & articles thereof – increased by $0.12 M
XVI Machinery & mechanical & electrical appliances & parts thereof – decreased by $4.8 M
XX Miscellaneous manufactured articles – decreased by $1.7 M
XIII Articles of stone, plaster, cement, glass & ceramic products – decreased by $1.2 M
Exports
From July 2024 to June 2025, the highest export was recorded in April 2025 with approximately $87.3 thousands. Some of the top contributors to the performance of exports include V Mineral Products ( $51k) and XVI Machinery & mechanical & electrical appliances & parts thereof ($50k).
Balance of Trade
Tuvalu’s trade balance was consistently in deficit. The deepest monthly trade balance was recorded in July 2024 at $9.51 million deficit whereas in June 2025, Tuvalu’s trade balance decreased to $1.90 million deficit.
Trade Markets
Trade by Partner Country demonstrates a prominent trade link between Tuvalu and its Pacific neighboring countries – approximately 62% of Total Imports were from Australia (30%), Fiji (28%) and New Zealand(4%), comparably 71% of total exports were exported to Fiji.
For more information, click the buttons below to download the IMTS Report and IMTS Release Tables.
CSD has compiled the IMTS 2023 Q2 report. There is an increase in the trade deficit due to increased imports and decreased exports. More information will be detailed in the report and the release tables.
CSD also completed compiling the IMTS Release Tables for the first quarter of 2023 and plans to complete the tables for the second quarter by the end of July 2023. Click the link to download the release tables.
