People

• Population: 114,689 (July 2006 estimate)
• Languages: English, Tongan
• Ethnic Groups: Polynesian

Geography

Tonga is an archipelago of 169 islands located in the southwest Pacific, about 650 km east of Fiji.

Economy

• Currency: Pa’anga (TOP)
• GDP per capita (2007): USD 2,200
• GDP growth (2007): 2.4%
• Exports: squash, fish, vanilla beans, root crops

Government

• Government: Constitutional monarchy
• Head of State: H.M. King George V

Exchange control

• Limited restrictions apply.

Banking regulations

• The National Reserve Bank of Tonga is the regulatory authority and operates under the Financial Institution Act
• There are no direct controls on interest rates.

Taxation

• Resident companies: 25%
• Non-resident companies: 25%
• Consumption tax: 15%
• Taxation and financial concessions are available for new enterprises.