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
Agriculture - productsNorfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit; cattle, poultry
Industriestourism, light industry, ready mixed concrete
Labor force978 (2006)
Labor force - by occupationagriculture: 6%
industry: 14%
services: 80% (2006 est.)
Budgetrevenues: $4.6 million
expenditures: $4.8 million (FY99/00)
Fiscal year1 July - 30 June
Exports - commoditiespostage stamps, seeds of the Norfolk Island pine and Kentia palm, small quantities of avocados
Imports - commoditiesNA
Debt - external$NA
Exchange ratesAustralian dollars (AUD) per US dollar -
1.352 (2016 est.)
1.3291 (2015 est.)
1.3291 (2013)
1.0358 (2013)
0.97 (2012)