Economy in Norfolk Island

Economy—overview: The primary economic activity is tourism which has brought a level of prosperity unusual among inhabitants of the Pacific islands. The number of visitors has increased steadily over the years and reached 28 000 in FY92/93. 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%

Inflation rate—consumer price index: NA%

Labor force:

total: 1 395 (1991 est.)

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—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

Exports:

total value: $1.5 million (f.o.b. FY91/92)

commodities: postage stamps seeds of the Norfolk Island pine and Kentia palm small quantities of avocados

partners: Australia other Pacific island countries NZ Asia Europe

Imports:

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—1.5281 (January 1998) 1.3439 (1997) 1.2773 (1996) 1.3486 (1995) 1.3667 (1994) 1.4704 (1993)

Fiscal year: 1 July—30 June