Norfolk Island Economy 2008

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

Labor force:
NA

Labor force - by occupation:
agriculture: 10%
industry and services: 90%

Budget:
revenues: $4.6 million
expenditures: $4.8 million (FY99/00)

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

Industries:
tourism, light industry, ready mixed concrete

Electricity - production:
NA kWh

Electricity - consumption:
NA kWh

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 (2006)

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

Imports - partners:
Australia, other Pacific island countries, NZ, Asia, Europe (2006)

Economic aid - recipient:
$NA

Debt - external:
$NA

Currency (code):
Australian dollar (AUD)

Exchange rates:
Australian dollars per US dollar - 1.2137 (2007), 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003)