| GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Niue Economy 2017
https://theodora.com/wfbcurrent/niue/niue_economy.html
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES











Niue Economy 2017
SOURCE: 2017 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 12, 2017

Economy - overview:
The economy suffers from the typical Pacific island problems of geographic isolation, few resources, and a small population. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories for processing passion fruit, lime oil, honey, and coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue.Government expenditures regularly exceed revenues, and the shortfall is made up by critically needed grants from New Zealand that are used to pay wages to public employees. Economic aid allocation from New Zealand in FY13/14 was US$10.1 million. Niue has cut government expenditures by reducing the public service by almost half.The island in recent years has suffered a serious loss of population because of emigration to New Zealand. Efforts to increase GDP include the promotion of tourism and financial services, although the International Banking Repeal Act of 2002 resulted in the termination of all offshore banking licenses.

GDP (purchasing power parity):
$10.01 million (2003 est.)
country comparison to the world: 229
[see also: GDP country ranks ]

GDP (official exchange rate):
$10.01 million (2003)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
6.2% (2003 est.)
country comparison to the world: 17
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$5,800 (2003 est.)
country comparison to the world: 164
[see also: GDP - per capita country ranks ]

GDP - composition, by sector of origin:
agriculture: 23.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 26.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 49.5% (2003)
[see also: GDP - composition, by sector of origin - services country ranks ]

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

Industries:
handicrafts, food processing

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Labor force:
663 (2001)
country comparison to the world: 230
[see also: Labor force country ranks ]

Labor force - by occupation:
note: most work on family plantations; paid work exists only in government service, small industry, and the Niue Development Board

Unemployment rate:
12% (2001)
country comparison to the world: 134
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[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: $15.07 million
[see also: Budget revenues country ranks ]
expenditures: $16.33 million (FY04/05)
[see also: Budget expenditures country ranks ]

Budget surplus (+) or deficit (-):
-12.6% of GDP (FY04/05)
country comparison to the world: 207
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
4% (2005)
country comparison to the world: 161
[see also: Inflation rate (consumer prices) country ranks ]

Exports:
$201,400 (2004 est.)
country comparison to the world: 222
[see also: Exports country ranks ]

Exports - commodities:
canned coconut cream, copra, honey, vanilla, passion fruit products, pawpaws, root crops, limes, footballs, stamps, handicrafts

Exports - partners:
Germany 25%, Belgium 11%, United Kingdom 8%, France 8%, Italy 4%, United States 4% (2014)

Imports:
$9.038 million (2004 est.)
country comparison to the world: 222
[see also: Imports country ranks ]

Imports - commodities:
food, live animals, manufactured goods, machinery, fuels, lubricants, chemicals, drugs

Imports - partners:
Germany 16%, Belgium 10%, China 9%, United States 7%, United Kingdom 7%, Russia 5%, France 4%, Norway 4% (2014)

Debt - external:
$418,000 (2002 est.)
country comparison to the world: 203
[see also: Debt - external country ranks ]

Exchange rates:
New Zealand dollars (NZD) per US dollar - 1.441 (2016 est.) 1.4279 (2015 est.) 1.2039 (2014 est.) 1.2039 (2013 est.) 1.23 (2012 est.)

NOTE: The information regarding Niue on this page is re-published from the 2017 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Niue Economy 2017 information contained here. All suggestions for corrections of any errors about Niue Economy 2017 should be addressed to the CIA.




- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

https://theodora.com/wfbcurrent/niue/niue_economy.html

This page was last modified 22-Feb-17
Copyright © 1995- , ITA all rights reserved.

    . Feedback