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

NOTE: The information regarding Norfolk Island on this page is re-published from the 1998 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Norfolk Island Economy 1998 information contained here. All suggestions for corrections of any errors about Norfolk Island Economy 1998 should be addressed to the CIA.