Economy
Main article: Economy of Tuvalu
Tuvalu has almost no natural resources, and its main form of income consists of foreign aid. Main industries are fishing and tourism, even though due to the remote location of the islands only a small number of tourists arrive annually.
Government revenues largely come from the sale of stamps and coins and worker remittances. About 1,000 Tuvaluans work in Nauru in the phosphate mining industry. Nauru has begun repatriating Tuvaluans, however, as phosphate resources decline. Substantial income is received annually from an international trust fund established in 1987 by Australia, New Zealand, and the United Kingdom and supported also by Japan and South Korea. Thanks to wise investments and conservative withdrawals, this Fund has grown from an initial $17 million to over $35 million in 1999. The US government is also a major revenue source for Tuvalu, with 1999 payments from a 1988 treaty on fisheries at about $9 million, a total which is expected to rise annually. In an effort to reduce its dependence on foreign aid, the government is pursuing public sector reforms, including privatization of some government functions and personnel cuts of up to 7%.
In 1998, Tuvalu began deriving revenue from use of its area code for "900" lines and from the sale of its ".tv" Internet domain name. In 2000, Tuvalu negotiated a contract leasing its Internet domain name ".tv" for $50 million in royalties over the next dozen years. Royalites from these new technology sources could raise GDP three or more times over the next decade. Low-lying Tuvalu is particularly vulnerable to any rise in the sea level from future global warming.
The Tuvalu dollar, the local currency, is coupled to the Australian dollar.
Demographics
Main article: Demographics of Tuvalu
The small population of Tuvalu is almost entirely of Polynesian ethnicity. About 97% of the Tuvaluans is a member of the Church of Tuvalu, a Protestant Christian church. The religion has been mixed with some elements of the indigenous religions.
The Tuvaluan language is spoken by virtually everybody, while I-Kiribati is spoken by some people on Nui. English is also an official language, but is not spoken in daily use.
Culture
Main article: Culture of Tuvalu
The traditional community system still to a large extent still survives on Tuvalu. Each family has its own task, or salanga, to perform for the community, such as fishing, house building or defence. The skills of a family are passed on from father to son.
Miscellaneous topics
External links
Countries of the world | Oceania