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Economy Stats: compare key data on India & Pitcairn Islands

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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.
  • Economic aid > Recipient: This entry, which is subject to major problems of definition and statistical coverage, refers to the net inflow of Official Development Finance (ODF) to recipient countries. The figure includes assistance from the World Bank, the IMF, and other international organizations and from individual nation donors. Formal commitments of aid are included in the data. Omitted from the data are grants by private organizations. Aid comes in various forms including outright grants and loans. The entry thus is the difference between new inflows and repayments.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • 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).
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • 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 > Exports to US: in US dollars. Jan 2003 - March 2003
  • Trade > With US > US imports of bauxite and aluminum: US imports of bauxite and aluminum, USD Thousands, 2004
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
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STAT India Pitcairn Islands HISTORY
Agriculture > Products rice, wheat, oilseed, cotton, jute, tea, sugarcane, lentils, onions, potatoes; dairy products, sheep, goats, poultry; fish honey; wide variety of fruits and vegetables; goats, chickens; fish
Budget > Expenditures $263.80 billion
Ranked 17th. 256615 times more than Pitcairn Islands 		$1.03 million
Ranked 149th.
Budget > Revenues $172.10 billion
Ranked 23th. 230697 times more than Pitcairn Islands 		$746,000.00
Ranked 221st.
Budget > Revenues > Per capita $124.97 per capita
Ranked 133th. 		$15,529.45 per capita
Ranked 7th. 124 times more than India
Currency Indian rupee New Zealand dollar
Economic aid > Recipient $1.72 billion
Ranked 7th. 498 times more than Pitcairn Islands 		$3.46 million
Ranked 51st.
Overview India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization measures, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and have served to accelerate the country's growth, which averaged under 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for nearly two-thirds of India's output, with less than one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services, business outsourcing services, and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth began slowing in 2011 because of a slowdown in government spending and a decline in investment, caused by investor pessimism about the government's commitment to further economic reforms and about the global situation. High international crude prices have exacerbated the government's fuel subsidy expenditures, contributing to a higher fiscal deficit and a worsening current account deficit. In late 2012, the Indian Government announced additional reforms and deficit reduction measures to reverse India's slowdown, including allowing higher levels of foreign participation in direct investment in the economy. The outlook for India's medium-term growth is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has yet to fully address, including poverty, corruption, violence and discrimination against women and girls, an inefficient power generation and distribution system, ineffective enforcement of intellectual property rights, decades-long civil litigation dockets, inadequate transport and agricultural infrastructure, limited non-agricultural employment opportunities, inadequate availability of quality basic and higher education, and accommodating rural-to-urban migration. 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.
Exchange rates Indian rupees (INR) per US dollar -<br />53.44 (2012 est.)<br />46.67 (2011 est.)<br />45.73 (2010 est.)<br />48.41 (2009)<br />43.32 (2008) New Zealand dollars (NZD) per US dollar -<br />1.23 (2012)<br />1.26 (2011)<br />1.39 (2010)<br />1.6 (2009)<br />1.42 (2008)
Exports > Commodities petroleum products, precious stones, machinery, iron and steel, chemicals, vehicles, apparel fruits, vegetables, curios, stamps
Fiscal year 1 1
Imports > Commodities crude oil, precious stones, machinery, fertilizer, iron and steel, chemicals fuel oil, machinery, building materials, flour, sugar, other foodstuffs
Industries textiles, chemicals, food processing, steel, transportation equipment, cement, mining, petroleum, machinery, software, pharmaceuticals postage stamps, handicrafts, beekeeping, honey
Labor force 482
Ranked 18th. 32 times more than Pitcairn Islands 		15
Ranked 110th.
Trade > Exports to US $3.23 billion
Ranked 18th. 323320 times more than Pitcairn Islands 		$10,000.00
Ranked 211th.
Trade > With US > US imports of bauxite and aluminum 12,597
Ranked 31st. 		0.0
Ranked 110th.
Labor force per thousand people 0.000395
Ranked 162nd. 		230.77
Ranked 4th. 584488 times more than India
Budget > Expenditures > Per capita $152.76 per capita
Ranked 130th. 		$18,683.38 per capita
Ranked 5th. 122 times more than India
Trade balance with US $-2,073,000,000.00
Ranked 209th. 		$790,000.00
Ranked 84th.

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; US Census Bureau; FTDWebMaster, Foreign Trade Division, U.S. Census Bureau; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.

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Factoid #231

  • In 2013, over half the Mexican population lived below the poverty line.

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