Pitcairn islands

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Introduction - Pitcairn Islands:
Location - Pitcairn Islands:
People - Pitcairn Islands:
Government - Pitcairn Islands:
Economy - Pitcairn Islands:

Economy overview

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. In October 2004, more than one-quarter of Pitcairns small labor force was arrested, putting the economy in a bind, since their services were required as lighter crew to load or unload passing ships.

Gdp purchasing power parity

$NA

Labor force

15 able-bodied men (2004)

Labor force by occupation

note: no business community in the usual sense; some public works; subsistence farming and fishing

Budget

revenues: $746,000
expenditures: $1.028 million; including capital expenditures of $NA (FY04/05 est.)

Agriculture products

honey; wide variety of fruits and vegetables; goats, chickens, fish

Industries

postage stamps, handicrafts, beekeeping, honey

Electricity production

NA kWh; note - electric power is provided by a small diesel-powered generator

Exports

$NA

Exports commodities

fruits, vegetables, curios, stamps

Imports

$NA

Imports commodities

fuel oil, machinery, building materials, flour, sugar, other foodstuffs

Economic aid recipient

$3.465 million (2004)

Currency code

New Zealand dollar (NZD)

Exchange rates

New Zealand dollars per US dollar - 1.5408 (2006), 1.4203 (2005), 1.5087 (2004), 1.7221 (2003), 2.1622 (2002)

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


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