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    Norfolk Island Economy 1997

      Economy - overview The primary economic activity is tourism, which has brought a levelof prosperity unusual among inhabitants of the Pacific islands. The numberof visitors has increased steadily over the years and reached 29,000 in FY88/89.Revenues from tourism have given the island a favorable balance of trade andhelped the agricultural sector to become self-sufficient in the productionof 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%

      Inflation rate - consumer price index NA%

      Labor force
      total : 1,395 (1991 est.)
      by occupation: tourism NA%, subsistence agriculture NA%

      Unemployment rate NA%

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

      Industries tourism

      Industrial production growth rate NA%

      Electricity - capacity NA kW

      Electricity - production NA kWh

      Electricity - consumption per capita NA kWh

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

      total value : $1.5 million (f.o.b., FY91/92)
      commodities: postage stamps, seeds of the Norfolk Island pine and Kentia palm, smallquantities of avocados
      partners: Australia, other Pacific island countries, NZ, Asia, Europe

      total value : $17.9 million (c.i.f., FY91/92)
      commodities: NA
      partners: Australia, other Pacific island countries, NZ, Asia, Europe

      Debt - external $NA

      Economic aid none

      Currency 1 Australian dollar ($A) = 100 cents

      Exchange rates Australian dollars ($A) per US$1 - 1.2835 (January 1997), 1.2773 (1996),1.3486 (1995), 1.3667 (1994), 1.4704 (1993), 1.3600 (1992)

      Fiscal year 1 July - 30 June

      NOTE: The information regarding Norfolk Island on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Norfolk Island Economy 1997 information contained here. All suggestions for corrections of any errors about Norfolk Island Economy 1997 should be addressed to the CIA.

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    Revised 06-Mar-02
    Copyright © 2002 Photius Coutsoukis (all rights reserved)