Niue Economy - 2024

Economic overview

upper-middle-income self-governing New Zealand territorial economy; environmentally fragile; massive emigration; post-pandemic tourism rebound; postage stamps, small-scale agricultural processing, and subsistence farming; most recent Asian Development Bank member

Real GDP (purchasing power parity)

$18.7 million (2021 est.)
$19.9 million (2020 est.)
$20.9 million (2019 est.)

Real GDP growth rate

6.2% (2003 est.)

Real GDP per capita

$11,100 (2021 est.)
$11,800 (2020 est.)
$12,400 (2019 est.)

note: data are in 2009 dollars

GDP (official exchange rate)

$10.01 million (2003) (2003)

Inflation rate (consumer prices)

4% (2005)

GDP - composition, by sector of origin

agriculture: 23.5% (2003)

industry: 26.9% (2003)

services: 49.5% (2003)

Agricultural products

coconuts, taro, fruit, sweet potatoes, tropical fruit, yams, vegetables, lemons, limes, bananas

Industries

handicrafts, food processing

Industrial production growth rate

N/A

Labor force

663 (2001)

Unemployment rate

12% (2001)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $15.07 million (FY04/05)

expenditures: $16.33 million (FY04/05)

Budget surplus (+) or deficit (-)

-12.6% (of GDP) (FY04/05)

Fiscal year

1 April - 31 March

Exports

$5.68 million (2021 est.)
$201,400 (2004 est.)

Exports - partners

Indonesia 57%, Thailand 7%, South Korea 5%, Czechia 4%, Poland 4% (2021)

Exports - commodities

tanker ships, collector's items, commemorative coins, fruits, nuts, juice, electrical resistors (2021)

Imports

$43.8 million (2021 est.)
$9.038 million (2004 est.)

Imports - partners

New Zealand 41%, United Kingdom 40%, Japan 15%, Israel 3%, Fiji 1% (2021)

Imports - commodities

floating platforms, tugboats, refined petroleum, cargo ships, cars, plasticware (2021)

Debt - external

$418,000 (2002 est.)

Exchange rates

New Zealand dollars (NZD) per US dollar -

Exchange rates:
1.416 (2017 est.)
1.4279 (2016 est.)
1.4279 (2015)
1.4279 (2014 est.)
1.2039 (2013 est.)