Formerly known as the Ellice Islands, is an island country and microstate in the Polynesian subregion of Oceania in the Pacific Ocean. Its islands are situated about midway between Hawaii and Australia. They lie east-northeast of the Santa Cruz Islands (which belong to the Solomon Islands), northeast of Vanuatu, southeast of Nauru, south of Kiribati, west of Tokelau, northwest of Samoa and Wallis and Futuna, and north of Fiji. Tuvalu is composed of three reef islands and six atolls
Economy: The economy of Tuvalu is constrained by its remoteness and lack of economies of scale. Government revenues largely come from fishing licences (primarily paid under the South Pacific Tuna Treaty); direct grants from international donors (government donors as well as from the Asian Development Bank); and income from the Tuvalu Trust Fund. The lease of its highly fortuitous .tv Top Level Domain (TLD) also contributes revenue. The sale of stamps since the independence of Tuvalu in 1976
tuvalu
