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In 1974, ethnic differences within the British colony of the Gilbert and Ellice Islands caused the Polynesians of the Ellice Islands to vote for separation from the Micronesians of the Gilbert Islands. The following year, the Ellice Islands became the separate British colony of Tuvalu. Independence was granted in 1978. In 2000, Tuvalu negotiated a contract leasing its Internet domain name ".tv" for $50 million in royalties over a 12-year period. The agreement was subsequently renegotiated but details were not disclosed.

Location

Oceania, island group consisting of nine coral atolls in the South Pacific Ocean, about half way from Hawaii to Australia

Natural Resources

fish, coconut (copra)

Population - distribution

Tuvaluan (official), English (official), Samoan, Kiribati (on the island of Nui)
FUNAFUTI (capital) 6,000 (2014)
Conventional long form
none
Conventional short form
Tuvalu
Local long form
none
Local short form
Tuvalu
parliamentary democracy (House of Assembly) under a constitutional monarchy; a Commonwealth realm
Name
Funafuti
Geographic coordinates
8 31 S, 179 13 E
Time difference
UTC+12 (17 hours ahead of Washington, DC, during Standard Time)
has not submitted an ICJ jurisdiction declaration; non-party state to the ICCt
Tuvalu consists of a densely populated, scattered group of nine coral atolls with poor soil. Only eight of the atolls are inhabited. It is one of the smallest countries in the world, with its highest point at 4.6 meters above sea level. The country is isolated, almost entirely dependent on imports, particularly of food and fuel, and vulnerable to climate change and rising sea levels, which pose significant challenges to development.
Inflation
None%
Total tax rate (% of commercial profits)
None%
Real Interest Rate
None%
Manufacturing, value added (% of GDP)
1.15%
Current Account Balance
US$ 6,808,265
Labor Force, Total
Employment in Agriculture
%
Employment in Industry
%
Employment in Services
%
Unemployment Rate
6.50%
Imports of goods and services
US$
Exports of goods and services
US$
Total Merchandise Trade
82.53%
FDI, net inflows
US$ 601,011
Commercial Service Exports
US$ 3,254,374
coconuts; fish
fishing
Commodities
copra, fish
Partners
Commodities
food, animals, mineral fuels, machinery, manufactured goods
Partners
Country Risk Rating
Business Climate Rating

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