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 - products | Norfolk Island pine seed, Kentia palm seed, cereals, vegetables, fruit; cattle, poultry |
| Industries | tourism, light industry, ready mixed concrete |
| Labor force | 978 (2006) |
| Labor force - by occupation | agriculture: 6% industry: 14% services: 80% (2006 est.) |
| Budget | revenues: $4.6 million expenditures: $4.8 million (FY99/00) |
| Fiscal year | 1 July - 30 June |
| Exports | $NA |
| Exports - commodities | postage stamps, seeds of the Norfolk Island pine and Kentia palm, small quantities of avocados |
| Imports | $NA |
| Imports - commodities | NA |
| Debt - external | $NA |
| Exchange rates | Australian dollars (AUD) per US dollar - 1.352 (2016 est.) 1.3291 (2015 est.) 1.3291 (2013) 1.0358 (2013) 0.97 (2012) |