New Caledonia

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Introduction - New Caledonia:
Location - New Caledonia:
People - New Caledonia:
Government - New Caledonia:
Economy - New Caledonia:

Economy overview

New Caledonia has about 25% of the worlds known nickel resources. Only a small amount of the land is suitable for cultivation, and food accounts for about 20% of imports. In addition to nickel, substantial financial support from France - equal to more than 15% of GDP - and tourism are keys to the health of the economy. Substantial new investment in the nickel industry, combined with the recovery of global nickel prices, brightens the economic outlook for the next several years.

Gdp purchasing power parity

$3.158 billion (2003 est.)

Gdp official exchange rate

$3.3 billion (2003 est.)

Gdp real growth rate

NA%

Gdp per capita ppp

$15,000 (2003 est.)

Gdp composition by sector

agriculture: 15%
industry: 8.8%
services: 76.2% (2003)

Labor force

78,990 (2004)

Labor force by occupation

agriculture: 20%
industry: 20%
services: 60% (2002)

Unemployment rate

17.1% (2004)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA%
highest 10%: NA%

Inflation rate consumer prices

1.4% (2000 est.)

Budget

revenues: $996 million
expenditures: $1.072 billion (2001 est.)

Agriculture products

vegetables; beef, deer, other livestock products; fish

Industries

nickel mining and smelting

Industrial production growth rate

-0.6% (1996)

Electricity production

1.675 billion kWh (2004)

Electricity consumption

1.558 billion kWh (2004)

Electricity exports

0 kWh (2004)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004 est.)

Oil consumption

10,000 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Exports

$1.085 billion f.o.b. (2005 est.)

Exports commodities

ferronickels, nickel ore, fish

Exports partners

Japan 17.3%, France 13.3%, China 10.8%, Taiwan 10.1%, Spain 9.4%, South Korea 8.9%, Belgium 7.3%, Italy 6%, Australia 4.6% (2006)

Imports

$1.78 billion f.o.b. (2005 est.)

Imports commodities

machinery and equipment, fuels, chemicals, foodstuffs

Imports partners

France 39.1%, Singapore 15.4%, Australia 11.5%, NZ 4.9% (2006)

Debt external

$79 million (1998 est.)

Economic aid recipient

$525 million annual subsidy from France (2004)

Currency code

Comptoirs Francais du Pacifique franc (XPF)

Exchange rates

Comptoirs Francais du Pacifique francs (XPF) per US dollar - 95.025 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003), 126.71 (2002)

Communications - New Caledonia:
Transportation - New Caledonia:
Military - New Caledonia:
This page was last updated on 16 September, 2007
Source: CIA >>>


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