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Pitcairn Islands

Pitcairn Islands Economy Stats

Overview:

The inhabitants of this tiny isolated economy exist on fishing, subsistence farming, handicrafts, and postage stamps. The fertile soil of the valleys produces a wide variety of fruits and vegetables, including citrus, sugarcane, watermelons, bananas, yams, and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships. In October 2004, more than one-quarter of Pitcairn's small labor force was arrested, putting the economy in a bind, since their services were required as lighter crew to load or unload passing ships.

Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Currency: The national medium of exchange and its basic sub-unit.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Trade > With US > US imports of bauxite and aluminum: US imports of bauxite and aluminum, USD Thousands, 2004
STAT AMOUNT DATE RANK HISTORY
Agriculture > Products honey; wide variety of fruits and vegetables; goats, chickens; fish 2013
Budget > Expenditures $1.03 million 2010 149th out of 149
Budget > Revenues $746,000.00 2013 221st out of 223
Budget > Revenues > Per capita $15,529.45 per capita 2003 7th out of 160
Currency New Zealand dollar 2008
Exports > Commodities fruits, vegetables, curios, stamps 2013
Fiscal year 1 2013
Industries postage stamps, handicrafts, beekeeping, honey 2013
Labor force 15 2013 110th out of 230
Trade > With US > US imports of bauxite and aluminum 0.0 2004 110th out of 115

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbooks 2010, 2011, 2012, 2013; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau

Citation

"Pitcairn Islands Economy Stats", NationMaster. Retrieved from http://www.nationmaster.com/country-info/profiles/Pitcairn-Islands/Economy

Pitcairn Islands Economy Profiles (Subcategories)

Budget 4 Trade 89
Government 5
  • Pitcairn Islands ranked last for budget > revenues amongst Christian countries in 2013.
  • Pitcairn Islands ranked #17 for labor force amongst Sparsely populated countries in 2013.
  • Pitcairn Islands ranked 15 places from the bottom for trade > exports to US globally in 2003.
  • Pitcairn Islands ranked 4th last for trade balance with US amongst UK and its territories in 2003.
  • Pitcairn Islands has ranked #4 in labor force per thousand people since 2010.