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New Caledonia Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











New Caledonia Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
New Caledonia has 11% of the world's nickel reserves, representing the second largest reserves on the planet. Only a small amount of the land is suitable for cultivation, and food accounts for about 20% of imports. In addition to nickel, substantial financial support from France - equal to more than 15% of GDP - and tourism are keys to the health of the economy.

With the gradual increase in the production of two new nickel plants in 2015, average production of metallurgical goods stood at a record level of 94 thousand tons. However, the sector is exposed to the high volatility of nickel prices, which have been in decline since 2016. In 2017, one of the three major mining firms on the island, Vale, put its operations up for sale, triggering concerns of layoffs ahead of the 2018 independence referendum.

GDP (purchasing power parity):
$11.11 billion (2017 est.)
$10.89 billion (2016 est.)
$10.77 billion (2015 est.)
note: data are in 2015 dollars
country comparison to the world: 159
[see also: GDP country ranks ]

GDP (official exchange rate):
$9.77 billion (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2017 est.)
1.1% (2016 est.)
3.2% (2015 est.)
country comparison to the world: 154
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$31,100 (2015 est.)
$32,100 (2014 est.)
$29,800 (2012 est.)
country comparison to the world: 66
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 64.3% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 24% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 38.4% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 18.7% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -45.5% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.4% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.4% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 72.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
vegetables; beef, venison, other livestock products; fish

Industries:
nickel mining and smelting

Industrial production growth rate:
3.5% (2017 est.)
country comparison to the world: 87
[see also: Industrial production growth rate country ranks ]

Labor force:
119,500 (2016 est.)
country comparison to the world: 181
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 2.7%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 22.4%
[see also: Labor force - by occupation - industry country ranks ]
services: 74.9% (2010)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
14.7% (2014)
14% (2009)
country comparison to the world: 171
[see also: Unemployment rate country ranks ]

Population below poverty line:
17% (2008)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 1.995 billion (2015 est.)
[see also: Budget - revenues country ranks ]
expenditures: 1.993 billion (2015 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
20.4% (of GDP) (2015 est.)
country comparison to the world: 147
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0% (of GDP) (2015 est.)
country comparison to the world: 45
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
6.5% of GDP (2015 est.)
6.5% of GDP (2014 est.)
country comparison to the world: 203
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.4% (2017 est.)
0.6% (2016 est.)
country comparison to the world: 79
[see also: Inflation rate (consumer prices) country ranks ]

Stock of domestic credit:
$9.522 billion (2015 est.)
country comparison to the world: 107
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
NA
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$1.469 billion (2014 est.)
-$1.861 billion (2013 est.)
country comparison to the world: 156
[see also: Current account balance country ranks ]

Exports:
$2.207 billion (2014 est.)
country comparison to the world: 138
[see also: Exports country ranks ]

Exports - partners:
China 25.4%, Japan 16.6%, South Korea 14.8%, France 8.2%, Belgium 5%, US 4.6% (2017)

Exports - commodities:
ferronickels, nickel ore, fish

Imports:
$2.715 billion (2015 est.)
$4.4 billion (2014 est.)
country comparison to the world: 154
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, fuels, chemicals, foodstuffs

Imports - partners:
France 24.2%, Singapore 13.1%, China 9.2%, Australia 7.1%, South Korea 5.2%, Malaysia 4.7%, NZ 4.4%, US 4.4% (2017)

Debt - external:
$112 million (31 December 2013 est.)
$79 million (31 December 1998 est.)
country comparison to the world: 192
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$16.43 billion (2015 est.)
$14.55 billion (2014 est.)
country comparison to the world: 87
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$658.2 million (2015 est.)
$593.8 million (2014 est.)
country comparison to the world: 94
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Comptoirs Francais du Pacifique francs (XPF) per US dollar -
110.2 (2017 est.)
107.84 (2016 est.)
107.84 (2015 est.)
89.85 (2013 est.)
90.56 (2012 est.)

NOTE: 1) The information regarding New Caledonia on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Caledonia Economy 2019 information contained here. All suggestions for corrections of any errors about New Caledonia Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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