Norfolk Island Economy Profile 2007

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. The agricultural sector has become self-sufficient in the production of beef, poultry, and eggs.

GDP (purchasing power parity)

$NA

Labor force

NA

Labor force - by occupation

agriculture: 10%
industry and services: 90%

Unemployment rate

0%

Budget

revenues: $4.6 million
expenditures: $4.8 million; including capital expenditures of $2 million (FY99/00)

Industries

tourism, light industry, ready mixed concrete

Electricity - production

NA kWh

Electricity - consumption

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 (2004)

Imports

$17.9 million c.i.f. (FY91/92)

Imports - commodities

NA

Imports - partners

Australia, other Pacific island countries, NZ, Asia, Europe (2004)

Debt - external

$NA

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