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    Niue Economy 1995

      Overview: The economy is heavily dependent on aid from New Zealand. Government expenditures regularly exceed revenues, with the shortfall made up by grants from New Zealand - the grants are used to pay wages to public employees. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories to process passion fruit, lime oil, honey, and coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue. The island in recent years has suffered a serious loss of population because of migration of Niueans to New Zealand.

      National product: GNP - exchange rate conversion - $2.1 million (1989 est.)

      National product real growth rate: NA%

      National product per capita: $1,000 (1989 est.)

      Inflation rate (consumer prices): 9.6% (1984)

      Unemployment rate: NA%

      revenues: $5.5 million
      expenditures: $6.3 million, including capital expenditures of $NA (1985 est.)

      Exports: $175,274 (f.o.b., 1985)
      commodities: canned coconut cream, copra, honey, passion fruit products, pawpaw, root crops, limes, footballs, stamps, handicrafts
      partners: NZ 89%, Fiji, Cook Islands, Australia

      Imports: $3.8 million (c.i.f., 1985)
      commodities: food, live animals, manufactured goods, machinery, fuels, lubricants, chemicals, drugs
      partners: NZ 59%, Fiji 20%, Japan 13%, Western Samoa, Australia, US

      External debt: $NA

      Industrial production: growth rate NA%

      capacity: 1,500 kW
      production: 3 million kWh
      consumption per capita: 1,490 kWh (1990)

      Industries: tourist, handicrafts, coconut products

      Agriculture: coconuts, passion fruit, honey, limes; subsistence crops - taro, yams, cassava (tapioca), sweet potatoes; pigs, poultry, beef cattle

      Economic aid:
      recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $62 million

      Currency: 1 New Zealand dollar (NZ$) = 100 cents
      Exchange rates: New Zealand dollars (NZ$) per US$1 - 1.7771 (January 1994), 1.8495 (1993), 1.8584 (1992), 1.7265 (1991), 1.6750 (1990), 1.6711 (1989)

      Fiscal year: 1 April - 31 March

      NOTE: The information regarding Niue on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niue Economy 1995 information contained here. All suggestions for corrections of any errors about Niue Economy 1995 should be addressed to the CIA.

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    Revised 09-Aug-02
    Copyright © 2002 Photius Coutsoukis (all rights reserved)