Norfolk Island: Economy#

Norfolk Island is suffering from a severe economic downturn. Tourism, the primary economic activity, is the main driver of economic growth. The agricultural sector has become self sufficient in the production of beef, poultry, and eggs.

Economic Facts#

GDP (purchasing power parity)$NA
Labor force - by occupationagriculture: 6%
industry: 14%
services: 80% (2006 est.)
Exports - commoditiespostage stamps, seeds of the Norfolk Island pine and Kentia palm, small quantities of avocados
Agriculture - productsNorfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit; cattle, poultry
Budgetrevenues: $4.6 million
expenditures: $4.8 million (FY99/00)
Imports - commoditiesNA
Exchange ratesAustralian dollars (AUD) per US dollar -
1.031 (2013)
0.9658 (2012)
1.0902 (2010)
1.2822 (2009)
1.2059 (2008)
Debt - external$NA
Fiscal year1 July - 30 June
Industriestourism, light industry, ready mixed concrete
Labor force978 (2006)