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    Niue Economy - 1989

      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 the 80% or more of the work force employed in public service. 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.

      GNP: $3 million, per capita $1,080; real growth rate NA% (1984)

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

      Unemployment rate: NA%

      Budget: revenues $5.5 million; expenditures $6.3 million, including capital expenditures of NA (FY85 est.)

      Exports: $87,800 (f.o.b., 1985); @m5commodities--canned coconut cream, copra, honey, passion fruit products, pawpaw, root crops, limes, footballs, stamps, handicrafts; @m5partners--NZ, Fiji, Cook Islands, Australia

      Imports: $1.9 million (c.i.f., 1985); @m5commodities--food, live animals, manufactured goods, machinery, fuels, lubricants, chemicals, drugs; @m5partners--NZ, Fiji, Japan, Western Samoa, Australia, US

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 1,500 kW capacity; 3 million kWh produced, 1,320 kWh per capita (1988)

      Industries: tourist, handicrafts

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

      Aid: $2.6 million subsidy from New Zealand (1985 est.)

      Currency: New Zealand dollar (plural--dollars); 1 New Zealand dollar (NZ$) = 100 cents

      Exchange rates: New Zealand dollars (NZ$) per US$1--1.5985 (January 1989), 1.5244 (1988), 1.6886 (1987), 1.9088 (1986), 2.0064 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Niue on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niue Economy 1989 information contained here. All suggestions for corrections of any errors about Niue Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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