Balance of Payments: Total Net Current Account for Tonga
TONBCAGDPBP6PT • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-7.26
Year-over-Year Change
-7.84%
Date Range
1/1/1990 - 1/1/2029
Summary
The Balance of Payments: Total Net Current Account for Tonga measures the net flow of goods, services, and capital between Tonga and the rest of the world. This key economic indicator provides insights into Tonga's international trade and financial position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Balance of Payments: Total Net Current Account for Tonga represents the difference between the value of Tonga's imports and exports, as well as net income and transfer payments. This metric is widely used by economists and policymakers to assess Tonga's external economic stability and competitiveness.
Methodology
The data is collected and calculated by the Central Bank of Tonga based on reporting from various sources within the country.
Historical Context
The Balance of Payments trends are closely monitored by the Tongan government and international institutions to inform economic policies and investment decisions.
Key Facts
- Tonga's current account balance averaged -8.4% of GDP from 2010-2020.
- Remittances from Tongans living abroad account for over 30% of Tonga's GDP.
- Tonga's current account deficit is primarily driven by a trade deficit in goods.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Total Net Current Account for Tonga measures the difference between Tonga's imports and exports of goods, services, and capital, as well as net income and transfer payments.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insight into Tonga's external economic position and competitiveness, which is crucial for policymakers, investors, and analysts assessing the country's economic stability and growth potential.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the Central Bank of Tonga based on reporting from various sources within the country.
Q: How is this trend used in economic policy?
A: Tonga's current account balance is closely monitored by the government and international institutions to inform economic policies, trade agreements, and investment decisions.
Q: Are there update delays or limitations?
A: The Balance of Payments data for Tonga is published quarterly with a short lag, typically 1-2 months after the end of the reporting period.
Related Trends
Remittance Inflows to GDP for Tonga
DDOI11TOA156NWDB
Use of Financial Services: Number of Loan Accounts at Commercial Banks for Tonga
TONFCNODCNUM
Geographical Outreach, Mobile Banking: Registered Number of Agent Outlets for Tonga
TONFCMORNUM
Number of Identified Exporters to Tonga from Oregon
ORTONA475SCEN
Number of Identified Exporters to Tonga from Texas
TXTONA475SCEN
Number of Identified Exporters to Tonga from Puerto Rico
PRTONA475SCEN
Citation
U.S. Federal Reserve, Balance of Payments: Total Net Current Account for Tonga (TONBCAGDPBP6PT), retrieved from FRED.