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Christmas Island Economy 1996

Overview:

Phosphate mining had been the only significant economic activity, but in December 1987 the Australian Government closed the mine as no longer economically viable. Plans have been under way to reopen the mine and also to build a casino and hotel to develop tourism.

National product:

GDP $NA

National product real growth rate:

NA%

National product per capita:

$NA

Inflation rate (consumer prices):

NA%

Unemployment rate:

NA%

Budget:

revenues:

$NA

expenditures:

$NA, including capital expenditures of $NA

Exports:

$NA

commodities:

phosphate

partners:

Australia, NZ

Imports:

$NA

commodities:

consumer goods

partners:

principally Australia

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

11,000 kW

production:

30 million kWh

consumption per capita:

17,800 kWh (1990)

Industries:

phosphate extraction (near depletion)

Agriculture:

Economic aid:

none

Currency:

1 Australian dollar ($A) = 100 cents

Exchange rates:

Australian dollars ($A) per US$1 - 1.3058 (January 1995), 1.3667 (1994), 1.4704, (1993), 1.3600 (1992), 1.2836 (1991), 1.2799 (1990)

Fiscal year:

1 July - 30 June

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