Norfolk Island Economy - 1990
SOURCE: 1990 CIA WORLD FACTBOOK
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.
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); commodities--postage stamps, seeds of the Norfolk Island pine and Kentia Palm, small quantities of avocados; partners--Australia, Pacific Islands, NZ, Asia, Europe
Imports: $16.3 million (c.i.f., FY85); commodities--NA; partners--Australia, Pacific Islands, NZ, Asia, Europe
External debt: NA
Industrial production: growth rate NA%
Electricity: 7,000 kW capacity; 8 million kWh produced, 3,210 kWh per capita (1989)
Agriculture: Norfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit, cattle, poultry
Currency: Australian dollar (plural--dollars); 1 Australian dollar ($A) = 100 cents
Exchange rates: Australian dollars ($A) per US$1--1.2784 (January 1990), 1.2618 (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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Norfolk Island Economy 1990 information contained here. All suggestions for corrections of any errors about Norfolk Island Economy 1990 should be addressed to the CIA.