About Tuvalu's economy

Tuvalu's economy is small and undiversified, with a GDP of around US$63 million in 2021. The public sector is the main driver of economic activity, employing around 70% of the workforce. Fishing is another important sector, accounting for around 42% of GDP. Agriculture is subsistence-based and contributes only a small amount to the economy. Tuvalu's global trade is limited, with exports of around US$5 million in 2021. The main exports are fish, copra (dried coconut meat), and handicrafts. Imports are much higher, at around US$40 million in 2021. The main imports are food, fuel, and machinery. Government procurement is an important source of demand for goods and services in Tuvalu. The government procures a wide range of goods and services, including construction, transportation, and professional services. Government procurement is subject to a number of regulations and procedures, which are designed to ensure transparency and accountability.

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