Economy - overview: Norfolk Island is suffering from a severe economic downturn. Tourism, the primary economic activity, is the main driver of economic growth. The agricultural sector has become self-sufficient in the production of beef, poultry, and eggs.
Definition: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
Source: CIA World Factbook - This page was last updated on July 9, 2017