Norfolk Island Economy - 2004

Economy - overview:
Tourism, the primary economic activity, has steadily increased over the years and has brought a level of prosperity unusual among inhabitants of the Pacific islands. The agricultural sector has become self-sufficient in the production of beef, poultry, and eggs.

GDP:
purchasing power parity - $NA

GDP - real growth rate:
NA%

GDP - per capita:
purchasing power parity - $NA

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):
NA%

Labor force:
NA

Labor force - by occupation:
tourism NA%, subsistence agriculture NA%

Unemployment rate:
NA% (2002 est.)

Budget:
revenues: $4.6 million
expenditures: $4.8 million, including capital expenditures of $NA (FY92/93)

Industries:
tourism

Industrial production growth rate:
NA%

Electricity - production:
NA kWh

Electricity - production by source:
fossil fuel: 0%
hydro: 0%
other: 0% (2002)
nuclear: 0%

Electricity - consumption:
NA kWh

Agriculture - products:
Norfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit; cattle, poultry

Exports:
$1.5 million f.o.b. (FY91/92)

Exports - commodities:
postage stamps, seeds of the Norfolk Island pine and Kentia palm, small quantities of avocados

Exports - partners:
Australia, other Pacific island countries, NZ, Asia, Europe

Imports:
$17.9 million c.i.f. (FY91/92)

Imports - commodities:
NA

Imports - partners:
Australia, other Pacific island countries, NZ, Asia, Europe

Debt - external:
$NA

Economic aid - recipient:
$NA

Currency:
Australian dollar (AUD)

Currency code:
AUD

Exchange rates:
Australian dollars per US dollar - 1.5419 (2003), 1.8406 (2002), 1.9320 (2001), 1.7173 (2000), 1.5497 (1999)