Christmas Island Economy - 2005

Economy - overview:
Phosphate mining had been the only significant economic activity, but in December 1987 the Australian Government closed the mine. In 1991, the mine was reopened. With the support of the government, a $34 million casino opened in 1993. The casino closed in 1998. The Australian Government in 2001 agreed to support the creation of a commercial space-launching site on the island, projected to begin operations in the near future

GDP:
purchasing power parity - NA

GDP - real growth rate:
NA

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

Labor force:
NA

Labor force - by occupation:
NA

Budget:
revenues: NA
expenditures: NA, including capital expenditures of NA

Agriculture - products:
NA

Industries:
tourism, phosphate extraction (near depletion)

Exports:
NA

Exports - commodities:
phosphate

Exports - partners:
Australia, NZ

Imports:
NA

Imports - commodities:
consumer goods

Imports - partners:
principally Australia

Economic aid - recipient:
NA

Currency (code):
Australian dollar (AUD)

Exchange rates:
Australian dollars per US dollar - 1.3598 (2004), 1.5419 (2003), 1.8406 (2002), 1.9334 (2001), 1.7248 (2000)