Asian Development Bank and Tonga: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on Tonga as well as concise information on ADB's operations in the country and contact information. Tonga has received $57.79 million in loans and $17.05 million in technical assistance since joining the Asian Development Bank (ADB) in 1972. The economy of Tonga contracted by around 1.2% in 2010, owing to continued weaknesses in remittances and tourism receipts because of slow recovery in source countries such as New Zealand and the United States. This marked the second straight year of contraction for Tonga. Remittances fell by 10% in 2010 and tourism receipts by 13.3% both on year-on-year bases. Constrained growth in private sector credit and delays in major construction projects also subdued economic activity.