1945

Executive Summary

With an estimated population of just over 11,000 and a total land area of 26 square kilometers, Tuvalu faces a number of unique development challenges. Its economic potential is constrained by the lack of natural resources; a small domestic market and an underdeveloped private sector. Its geographic location and fragmentation across nine islands and atolls make for difficult and expensive access to major international markets and high inter-island transport costs. Tuvalu is highly dependent on imports, the bulk of which consists of food, fuel, building materials, medicine and medical equipment, as well as most consumer products including motor vehicles, appliances, and clothing. Tuvalu has been characterized as a classic migration-remittances-aid-bureaucracy (MIRAB) economy, predominated by government activities. With limited opportunities for private business, the country relies on its public sector as the main driver of growth. Tuvalu is one of the least connected countries in the world, with high-cost and limited Internet services. Poor connectivity constrains business and tourism opportunities as well as the ability to respond quickly to natural disasters.

Countries: Tuvalu
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