Pitcairn Islands Economy - 2004

Economy - overview:
The inhabitants of this tiny isolated economy exist on fishing, subsistence farming, handicrafts, and postage stamps. The fertile soil of the valleys produces a wide variety of fruits and vegetables, including citrus, sugarcane, watermelons, bananas, yams, and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships.

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:
12 able-bodied men (1997)

Labor force - by occupation:
no business community in the usual sense; some public works; subsistence farming and fishing

Unemployment rate:
NA%

Budget:
revenues: $729,884
expenditures: $878,119, including capital expenditures of $NA (FY94/95 est.)

Industries:
postage stamps, handicrafts

Industrial production growth rate:
NA%

Electricity - production:
NA kWh; note - electric power is provided by a small diesel-powered generator

Electricity - consumption:
NA kWh

Agriculture - products:
wide variety of fruits and vegetables, goats, chickens

Exports:
$NA

Exports - commodities:
fruits, vegetables, curios, stamps

Exports - partners:
NA (2000)

Imports:
$NA

Imports - commodities:
fuel oil, machinery, building materials, flour, sugar, other foodstuffs

Imports - partners:
NA (2000)

Debt - external:
$NA

Economic aid - recipient:
$NA

Currency:
New Zealand dollar (NZD)

Currency code:
NZD

Exchange rates:
New Zealand dollars per US dollar - 1.7229 (2003), 2.162 (2002), 2.3776 (2001), 2.1863 (2000), 1.8886 (1999)