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New Caledonia


    • Overview:
      New Caledonia has more than 25% of the world's known nickel resources. In recent years the economy has suffered because of depressed international demand for nickel, the principal source of export earnings. Only a negligible amount of the land is suitable for cultivation, and food accounts for about 25% of imports.

    • National product:
      GDP - purchasing power parity - $1 billion (1991 est.)

    • National product real growth rate:
      2.4% (1988)

    • National product per capita:
      $6,000 (1991 est.)

    • Inflation rate (consumer prices):
      1.4% (1990)

    • Unemployment rate:
      16% (1989)

    • Budget:

        revenues:
        $224 million

        expenditures:
        $211 million, including capital expenditures of $NA (1985 est.)

    • Exports:
      $671 million (f.o.b., 1989)

        commodities:
        nickel metal 87%, nickel ore

        partners:
        France 32%, Japan 23.5%, US 3.6%

    • Imports:
      $764 million (c.i.f., 1989)

        commodities:
        foods, fuels, minerals, machines, electrical equipment

        partners:
        France 44.0%, US 10%, Australia 9%

    • External debt:
      $NA

    • Industrial production:
      growth rate NA%

    • Electricity:

        capacity:
        250,000 kW

        production:
        1.2 billion kWh

        consumption per capita:
        6,178 kWh (1993)

    • Industries:
      nickel mining and smelting

    • Agriculture:
      large areas devoted to cattle grazing; coffee, corn, wheat, vegetables; 60% self-sufficient in beef

    • Illicit drugs:
      illicit cannabis cultivation is becoming a principal source of income for some families

    • Economic aid:

        recipient:
        Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $4.185 billion

    • Currency:
      1 CFP franc (CFPF) = 100 centimes

    • Exchange rates:
      Comptoirs Francais du Pacifique francs (CFPF) per US$1 - 96.25 (January 1995), 100.93 (1994), 102.96 (1993), 96.24 (1992), 102.57 (1991), 99.00 (1990); note - linked at the rate of 18.18 to the French franc

    • Fiscal year:
      calendar year






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