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Tokelau Economy 1996

Overview:

Tokelau's small size, isolation, and lack of resources greatly restrain economic development and confine agriculture to the subsistence level. The people must rely on aid from New Zealand to maintain public services, annual aid being substantially greater than GDP. The principal sources of revenue come from sales of copra, postage stamps, souvenir coins, and handicrafts. Money is also remitted to families from relatives in New Zealand.

National product:

GDP - purchasing power parity - $1.5 million (1993 est.)

National product real growth rate:

NA%

National product per capita:

$1,000 (1993 est.)

Inflation rate (consumer prices):

NA%

Unemployment rate:

NA%

Budget:

revenues:

$430,830

expenditures:

$2.8 billion, including capital expenditures of $37,300 (1987 est.)

Exports:

$98,000 (f.o.b., 1983)

commodities:

stamps, copra, handicrafts

partners:

Imports:

$323,400 (c.i.f., 1983)

commodities:

foodstuffs, building materials, fuel

partners:

External debt:

Industrial production:

growth rate NA%

Electricity:

capacity:

200 kW

production:

300,000 kWh

consumption per capita:

180 kWh (1990)

Industries:

small-scale enterprises for copra production, wood work, plaited craft goods; stamps, coins; fishing

Agriculture:

coconuts, copra; basic subsistence crops - breadfruit, papaya, bananas; pigs, poultry, goats

Economic aid:

recipient:

Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $24 million

Currency:

1 New Zealand dollar (NZ$) = 100 cents

Exchange rates:

New Zealand dollars (NZ$) per US$1 - 1.5601 (January 1995), 1.6844 (1994), 1.8495 (1993), 1.8584 (1992), l.7265 (1991), 1.6750 (1990)

Fiscal year:

1 April - 31 March

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