Tuvalu - Economic sectors



Tuvalu's economy is limited due to its small size and narrow range of natural resources. The nation's economic base is divided into 2 main sectors: agriculture and revenues from external licensing. Agriculture remains based on subsistence farming, with minor exports of copra. Concurrently, licensing of fishing, the nation's phone prefix, and the ".tv" domain name provide the majority of revenue for both the government and the national economy.

The government's main economic priority is to develop the economy to such an extent that foreign aid is no longer required. In addition, the government is endeavoring to support international efforts to stop global warming and pollution in general in order to protect both the islands themselves and the agricultural sector on the lands. For instance, in the spring of 2000, floods of 3.2 meters (11 feet) left most of the islands underwater. The government subsequently entered into agreements which would allow those Tuvaluans permanently displaced by global warming to immigrate to Australia or New Zealand. Finally, although substantial revenues are expected from the ".tv" licenses, the government is attempting to protect the local way of life from overt commercialism.

Also read article about Tuvalu from Wikipedia

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