Tonga: Financial openness
* indicates monthly or quarterly data series
| Tonga |
Financial openness index |
|---|---|
| Latest value | -1.248 |
| Year | 2022 |
| Measure | index points |
| Data availability | 1989 - 2022 |
| Average | -0.490 |
| Min - Max | -1.248 - 1.028 |
| Source | Chinn-Ito Index |
| Available for | Data download |
The latest value from 2022 is -1.248 index points, unchanged from -1.248 index points in 2021. In comparison, the world average is 0.307 index points, based on data from 174 countries. Historically, the average for Tonga from 1989 to 2022 is -0.49 index points. The minimum value, -1.248 index points, was reached in 2004 while the maximum of 1.028 index points was recorded in 1993.
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* indicates monthly or quarterly data series
| Recent values | Tonga: Financial openness |
|---|---|
| 2022 | -1.248 |
| 2021 | -1.248 |
| 2020 | -1.248 |
| 2019 | -1.248 |
| 2018 | -1.248 |
| 2017 | -0.050 |
| 2016 | -0.050 |
| 2015 | -0.050 |
Definition: The Chinn-Ito index measures a country's degree of capital account openness and was introduced in Chinn and Ito (Journal of Development Economics, 2006). It is based on variables that codify the restrictions on cross-border financial transactions in the IMF's Annual Report on Exchange Arrangements and Exchange Restrictions. Higher values mean greater financial openness.
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| Related indicators | Latest | Reference | Measure |
|---|---|---|---|
| Terms of trade | 89.80 | 2024 | percent |
| Trade openness | 77.58 | 2024 | percent |
| Financial openness | -1.248 | 2022 | index points |
| Exports, percent of GDP | 16.90 | 2024 | percent |
| Exports, billion dollars | 0.11 | 2024 | billion U.S. dollars |
| Growth of exports | 9.02 | 2024 | percent |
| Imports, percent of GDP | 60.68 | 2024 | percent |
| Imports, billion dollars | 0.39 | 2024 | billion U.S. dollars |
| Foreign Direct Investment, percent of GDP | -1.87 | 2024 | percent |
| Foreign Direct Investment, billion dollars | -0.01 | 2024 | billion U.S. dollars |
| Portfolio investment inflows, equities | 0.00 | 1993 | million dollars (current) |
| Current account, percent of GDP | -6.72 | 2024 | percent |
| Current account, in dollars | -0.04 | 2024 | billion U.S. dollars |
| Trade balance, percent of GDP | -43.78 | 2024 | percent |
| Trade balance, in dollars | -0.29 | 2024 | billion U.S. dollars |
| Reserves | 0.41 | 2025 | billion U.S. dollars |
| Remittances, percent of GDP | 39.20 | 2024 | percent |
| Remittances | 267.08 | 2025 | million U.S. dollars |
| Net errors and omissions | -22.70 | 2024 | million USD |
| External debt | 30.72 | 2024 | percent |
| Short-term external debt | 0.00 | 2023 | percent |
| Short-term debt to reserves | 0.00 | 2023 | percent |