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Norfolk Island (territory of Australia) Economy

    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. Revenues from tourism have helped the agricultural sector to 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: 1,395 (1991 est.)

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

    Unemployment rate: NA%

    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: NA%
    hydro: NA%
    nuclear: NA%
    other: NA%

    Electricity—consumption: NA kWh

    Electricity—exports: NA kWh

    Electricity—imports: 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: 1 Australian dollar ($A) = 100 cents

    Exchange rates: Australian dollars ($A) per US$1—1.5853 (January 1999), 1.5888 (1998), 1.3439 (1997), 1.2773 (1996), 1.3486 (1995), 1.3667 (1994)

    Fiscal year: 1 July—30 June

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)