Net incurrence of liabilities, total in Tonga
Tonga: Net incurrence of liabilities, total was 0.0% in 2023. ◆ Volatile
Net incurrence of liabilities, total in Tonga, 2013–2023
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for net incurrence of liabilities, total in Tonga is 0.0%, measured in 2023.
Compared with earlier readings it is up 105.0% on the previous year and up 106.7% over ten years.
Over the whole period, net incurrence of liabilities, total in Tonga peaked at 1.5% in 2016 and was at its lowest, -1.2%, in 2019.
Tonga ranks 121st of 136 countries on this measure, in the bottom quarter.
The series is highly variable year to year, so single readings are best treated with caution.
Net incurrence of liabilities, total in Tonga, year by year
| Year | % of GDP | Change |
|---|---|---|
| 2013 | -0.7% | — |
| 2014 | -0.8% | +10.8% |
| 2015 | 1.0% | -227.0% |
| 2016 | 1.5% | +43.7% |
| 2017 | 0.9% | -38.6% |
| 2018 | -0.5% | -154.5% |
| 2019 | -1.2% | +133.3% |
| 2020 | 0.7% | -160.7% |
| 2021 | 1.2% | +67.8% |
| 2022 | -1.0% | -183.1% |
| 2023 | 0.0% | -105.0% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 0.0% | -1.2% | 1.5% | 7 |
| 2020s | 0.2% | -1.0% | 1.2% | 4 |
Countries ranked near Tonga
- 118 Norway 0.3%
- 119 Kyrgyzstan 0.1% compare
- 120 Andorra 0.1% compare
- 122 Lebanon 0.0% compare
- 123 Marshall Islands -0.1% compare
- 124 Netherlands -0.1%
More public sector data for Tonga
- Arms imports 7.00 million SIPRI trend indicator values (2020)
- Arms imports (SIPRI trend indicator values), per capita 66.22 SIPRI trend indicator values per person (2020)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0138 SIPRI trend indicator values per US$ of GDP (2020)
- Arms imports (SIPRI trend indicator values), gaps filled 7.00 million SIPRI trend indicator values (2020)
- Arms imports (SIPRI trend indicator values), per square kilometre 9,722 SIPRI trend indicator values per square kilometre (2020)
- Tax revenue 20.5% (2023)
- Taxes on income, profits and capital gains 8.9% (2023)
- Taxes on goods and services 30.0% (2023)
- Net investment in nonfinancial assets 6.8% (2023)
- Net lending (+) / net borrowing (-) 5.3% (2023)
Frequently asked questions
- What is net incurrence of liabilities, total in Tonga?
- Net incurrence of liabilities, total in Tonga was 0.0% in 2023, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest net incurrence of liabilities, total recorded in Tonga?
- The highest recorded value was 1.5% in 2016.
- What is the lowest net incurrence of liabilities, total recorded in Tonga?
- The lowest recorded value was -1.2% in 2019.
- How does Tonga rank for net incurrence of liabilities, total?
- Tonga ranks 121st out of 136 countries with data for 2023.
- Is net incurrence of liabilities, total rising or falling in Tonga?
- Over the last ten years it is up 106.7%. The long-run trend across the full record is volatile.
- Where does this Tonga data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Net incurrence of liabilities, total (% of GDP). Statizoid updates them automatically from the source API.
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About this data
Net incurrence of government liabilities includes foreign financing (obtained from nonresidents) and domestic financing (obtained from residents), or the means by which a government provides financial resources to cover a budget deficit or allocates financial resources arising from a budget surplus. The net incurrence of liabilities should be offset by the net acquisition of financial assets. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.