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Pitcairn Islands Economy 1996

Overview:

The inhabitants exist on fishing and subsistence farming. 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.

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:

$430,000

expenditures:

$429,000, including capital expenditures of $NA (1987 est.)

Exports:

$NA

commodities:

fruits, vegetables, curios

partners:

Imports:

$NA

commodities:

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

partners:

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

110 kW

production:

300,000 kWh

consumption per capita:

5,360 kWh (1990)

Industries:

postage stamps, handicrafts

Agriculture:

based on subsistence fishing and farming; wide variety of fruits and vegetables; must import grain products

Economic aid:

recipient:

ODA bilateral commitments (1992-93), $84,000

Currency:

1 New Zealand dollar (NZ$) = 100 cents

Exchange rates:

New Zealand dollars (NZ$) per US$1 - 1.5601 (January 1995), 1.6844 (1994), 1.8495 (1993), 1.8584 (1992), 1.7265 (1991), 1.6750 (1990)

Fiscal year:

1 April - 31 March

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