Tokelau Tenders

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According to the US Central Intelligence Agency's list of countries by GDP (PPP) Tokelau has the smallest economy in the world. Tokelau has an annual purchasing power of about US$1,000 (€674) per capita. The government is almost entirely dependent on subsidies from New Zealand. It has annual revenues of less than US$500,000 (€336,995) against expenditures of some US$2.8 million (€1.9 million). The deficit is made up by aid from New Zealand. Tokelau annually exports around US$100,000 (€67,000) of stamps, copra and woven and carved handicrafts and imports over US$300,000 (€202,000) of foodstuffs, building materials, and fuel to, and from, New Zealand. New Zealand also pays directly for the cost of medical and education services. Local industries include small-scale enterprises for copra production, wood work, plaited craft goods, stamps, coins, and fishing. Agriculture and livestock produces coconuts, copra, breadfruit, papayas, bananas, figs, pigs, poultry and a few goats. Many Tokelauans live in New Zealand and support their families in Tokelau through remittances. Tokelau is one of only two nations to rely solely on renewable sources of energy in the production and consumption of electricity (Iceland also achieves 100% electricity production from renewable sources).