Christmas Island Economy Profile 2007

Economy - overview

Phosphate mining had been the only significant economic activity, but in December 1987 the Australian Government closed the mine. In 1991, the mine was reopened. With the support of the government, a $34 million casino opened in 1993, but closed in 1998. The Australian Government in 2001 agreed to support the creation of a commercial space-launching site on the island, expected to begin operations in the near future.

GDP (purchasing power parity)

$NA

Labor force

NA

Budget

revenues: $NA
expenditures: $NA

Industries

tourism, phosphate extraction (near depletion)

Agriculture - products

NA

Exports

$NA

Exports - commodities

phosphate

Exports - partners

Australia, NZ (2004)

Imports

$NA

Imports - commodities

consumer goods

Imports - partners

principally Australia (2004)

Economic aid - recipient

$NA

Currency (code)

Australian dollar (AUD)

Exchange rates

Australian dollars per US dollar - 1.3285 (2006), 1.3095 (2005), 1.3598 (2004), 1.5419 (2003), 1.8406 (2002)

Fiscal year

1 July - 30 June