Agriculture > products
coconuts, passion fruit, honey, limes, taro, yams, cassava, sweet potatoes; pigs, poultry, beef cattle |
|
Debt > External
|
$418,000.00 |
|
[97th of 136]
|
|
Definition: Economy > Debt > External |
|
Source: CIA World Factbook, 28 July 2005 |
|
Economic aid > Recipient
|
$2,600,000.00 |
|
[25th of 134]
|
|
Definition: Economy > Economic aid > Recipient |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Economy > Overview
The economy suffers from the typical Pacific island problems of geographic isolation, few resources, and a small population. 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. Niue has cut government expenditures by reducing the public service by almost half. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories to process passion fruit, lime oil, honey, and coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue. 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 a financial services industry, although the International Banking Repeal Act of 2002 resulted in the termination of all offshore banking licenses. Economic aid from New Zealand in 2002 was US$2.6 million. Niue suffered a devastating typhoon in January 2004, which decimated nascent economic programs. While in the process of rebuilding, Niue has been dependent on foreign aid. |
|
Definition: Economy > Economy > Overview |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
Exchange rates
New Zealand dollars per US dollar - 1.5087 (2004), 1.7221 (2003), 2.1622 (2002), 2.3788 (2001), 2.2012 (2000) |
|
Definition: Economy > Exchange rates |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Exports
|
$201,400.00 |
|
[59th of 189]
|
|
Definition: Economy > Exports |
|
Source: CIA World Factbook, 28 July 2005 |
Exports > Commodities
canned coconut cream, copra, honey, vanilla, passion fruit products, pawpaws, root crops, limes, footballs, stamps, handicrafts |
|
Definition: Economy > Exports > Commodities |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Exports to US
|
$0.00 |
|
[227th of 224]
|
|
Definition: Economy > Exports to US |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Fiscal year
|
1 April - 31 March |
|
|
|
Definition: Economy > Fiscal year |
|
Source: US Census Bureau |
|
GDP
|
$7,600,000.00 |
|
[195th of 203]
|
|
Definition: Economy > GDP |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP (official exchange rate)
|
$10,010,000.00 |
|
[5th of 192]
|
|
Definition: Economy > GDP (official exchange rate) |
|
Source: World Development Indicators database and CIA World Factbook |
|
GDP (purchasing power parity)
|
$7,600,000.00 |
|
[7th of 187]
|
|
Definition: Economy > GDP (purchasing power parity) |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Composition by sector > Agriculture
|
23.5% |
|
[32nd of 146]
|
|
Definition: Economy > GDP > Composition by sector > Agriculture |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Composition by sector > Industry
|
26.9% |
|
[84th of 146]
|
|
Definition: Economy > GDP > Composition by sector > Industry |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Composition by sector > Services
|
49.5% |
|
[92nd of 146]
|
|
Definition: Economy > GDP > Composition by sector > Services |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
GDP > Real growth rate
|
6.2% |
|
[28th of 198]
|
|
Definition: Economy > GDP > Real growth rate |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Imports
|
$9,038,000.00 |
|
[59th of 185]
|
|
Definition: Economy > Imports |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Inflation rate (consumer prices)
|
4% |
|
[97th of 192]
|
|
Definition: Economy > Inflation rate (consumer prices) |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Tourist arrivals by region of origin > Europe
|
295 |
|
[177th of 195]
|
|
Definition: Economy > Tourist arrivals by region of origin > Europe |
|
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008 |
|
Trade balance with US
|
$0.00 |
|
[105th of 224]
|
|
Definition: Economy > Trade balance with US |
|
Source: Source: World Tourism Organization Statistics Database and Yearbook | United Nations World Tourism Organization |
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