Economy

Economy—overview: The inhabitants exist on fishing and subsistence farming. The fertile soil of the valleys produces a wide variety of fruits and vegetables including citrus sugarcane watermelons bananas yams and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships.

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: 14 able-bodied men (1993)

by occupation: no business community in the usual sense; some public works; subsistence farming and fishing

Unemployment rate: NA%

Budget:

revenues: $729 884

expenditures: $878 119 including capital expenditures of $NA (FY94/95 est.)

Industries: postage stamps handicrafts

Industrial production growth rate: NA%

Electricity—capacity: NA kW

Electricity—production: NA kWh

Electricity—consumption per capita: NA kWh

Agriculture—products: wide variety of fruits and vegetables

Exports: $NA

commodities: fruits vegetables curios

partners: NA

Imports: $NA

commodities: fuel oil machinery building materials flour sugar other foodstuffs

partners: NA

Debt—external: $NA

Economic aid:

recipient: ODA bilateral commitments (1992-93) $84 000

Currency: 1 New Zealand dollar (NZ$) = 100 cents

Exchange rates: New Zealand dollars (NZ$) per US$1—1.7283 (January 1998) 1.5083 (1997) 1.4543 (1996) 1.5235 (1995) 1.6844 (1994) 1.8495 (1993)

Fiscal year: 1 April—31 March