Overview: New Caledonia has more than 40% of the world's known nickel resources. In recent years the economy has suffered because of depressed international demand for nickel, the principal source of export earnings. Only a negligible amount of the land is suitable for cultivation, and food accounts for about 25% of imports.

GNP: $860 million, per capita $5,810; real growth rate 2.4% (1989 est.)

Inflation rate (consumer prices): 1.5% (1986)

Unemployment rate: 6.2% (1983)

Budget: revenues $110.5 million; expenditures $110.5 million, including capital expenditures of NA (1981)

Exports: $75 million (f.o.b., 1986); commodities--nickel metal 87%, nickel ore; partners--France 56.3%, Japan

Imports: $180 million (c.i.f., 1986); commodities--foods, fuels, minerals, machines, electrical equipment; partners--France 50.3%, Australia

External debt: $NA

Industrial production: growth rate NA%

Electricity: 400,000 kW capacity; 2,200 million kWh produced, 14,440 kWh per capita (1989)

Industries: nickel mining

Agriculture: large areas devoted to cattle grazing; coffee, corn, wheat, vegetables; 60% self-sufficient in beef

Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $3.6 billion

Currency: Comptoirs Francais du Pacifique franc (plural--francs); 1 CFP franc (CFPF) = 100 centimes

Exchange rates: Comptoirs Francais du Pacifique francs (CFPF) per US$1--104.71 (January 1990), 115.99 (1989), 108.30 (1988), 109.27 (1987), 125.92 (1986), 163.35 (1985); note--linked at the rate of 18.18 to the French franc

Fiscal year: calendar year

NOTE: The information regarding New Caledonia on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Caledonia Economy 1990 information contained here. All suggestions for corrections of any errors about New Caledonia Economy 1990 should be addressed to the CIA.