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    Norfolk Island Economy - 1989

      Overview: The primary economic activity is tourism, which has brought a level of prosperity unusual among inhabitants of the Pacific Islands. The number of visitors has increased steadily over the years and reached almost 30,000 in 1986. Revenues from tourism have given the island a favorable balance of trade and helped the agricultural sector to become self-sufficient in the production of beef, poultry, and eggs.

      GNP: $NA, per capita $NA; real growth rate NA%

      Inflation rate (consumer prices): NA%

      Unemployment rate: NA%

      Budget: revenues $3.4 million; expenditures $3.4 million, including capital expenditures of NA (FY88)

      Exports: $1.8 million (f.o.b., FY85); @m5commodities--postage stamps, seeds of the Norfolk Island pine and Kentia Palm, small quantities of avocados; @m5partners--Australia, Pacific Islands, NZ, Asia, Europe

      Imports: $16.3 million (c.i.f., FY85); @m5commodities--NA; @m5partners--Australia, Pacific Islands, NZ, Asia, Europe

      External debt: NA

      Industrial production: growth rate NA%

      Electricity: 7,000 kW capacity; 8 million kWh produced, 3,270 kWh per capita (1988)

      Industries: tourism

      Agriculture: Norfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit, cattle, poultry

      Aid: NA

      Currency: Australian dollar (plural--dollars); 1 Australian dollar ($A) = 100 cents

      Exchange rates: Australian dollars ($A) per US$1--1.1493 (January 1989), 1.2752 (1988), 1.4267 (1987), 1.4905 (1986), 1.4269 (1985)

      Fiscal year: 1 July-30 June

      NOTE: The information regarding Norfolk Island 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 Norfolk Island Economy 1989 information contained here. All suggestions for corrections of any errors about Norfolk Island Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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