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. The casino closed in 1998. The Australian Government in 2001 agreed to support the creation of a commercial space-launching site on the island, slated to begin operation in 2003.

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%

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) NA%

Labor force NA

Labor force - by occupation tourism 400 people, mining 100 people (1995)

Unemployment rate NA%

Budget
revenues: $NA
expenditures: $NA, including capital expenditures of $NA

Industries tourism, phosphate extraction (near depletion)

Industrial production growth rate NA%

Electricity - production NA kWh

Electricity - production by source
fossil fuel: NA%
hydro: NA%
other: NA%
nuclear: NA%

Electricity - consumption NA kWh

Agriculture - products NA

Exports $NA

Exports - commodities phosphate

Exports - partners Australia, NZ

Imports $NA

Imports - commodities consumer goods

Imports - partners principally Australia

Debt - external $NA

Economic aid - recipient $NA

Currency Australian dollar (AUD)

Currency code AUD

Exchange rates Australian dollars per US dollar - 1.9354 (January 2002), 1.9320 (2001), 1.7173 (2000), 1.5497 (1999), 1.5888 (1998), 1.3439 (1997)

Fiscal year 1 July - 30 June

NOTE: The information regarding Christmas Island on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Christmas Island Economy 2002 information contained here. All suggestions for corrections of any errors about Christmas Island Economy 2002 should be addressed to the CIA.