The 2023 composition of Tuvalu's GDP is significantly led by the services sector, comprising 51.18% of the GDP. Agriculture, hunting, forestry, and fishing follow at 24.28%, while wholesale, retail trade, restaurants, and hotels account for 10.71%. The construction industry represents 7.14%, with transport, storage, and communication at 5.58%, and mining, manufacturing, and utilities at a minimal 1.11%. Over the last two years, there has been a notable shift towards services and construction, with moderate growth in wholesale and negligible movement in mining and manufacturing. The 5-year CAGR highlights a consistent tilt towards a service-oriented economy.
Future trends to watch include the potential for increased tourism impacting wholesale and retail trade sectors, the continued rise of construction driven by infrastructure development, and digital transformation enhancing the transport and communication sector. Monitoring these trends will be essential for understanding shifts in Tuvalu’s economic structure.
Top countries in GDP Composition by Sector
| # | 6 Countries | Percent | Last Year | |
|---|---|---|---|---|
| 1 | 1 Services | 51.18 | 2016 | |
| 2 | 2 Agriculture, hunting, forestry, fishing | 24.28 | 2016 | |
| 3 | 3 Wholesale, retail trade, restaurants and hotels | 10.71 | 2016 | |
| 4 | 4 Construction | 7.14 | 2016 | |
| 5 | 5 Transport, storage and communication | 5.58 | 2016 | |
| 6 | 6 Mining, Manufacturing, Utilities | 1.11 | 2016 |
