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    New Caledonia Economy - 1991

      Overview: New Caledonia has more than 25% 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: $973 million, per capita $5,790; real growth rate 2.4% (1990 est.)

      Inflation rate (consumer prices): 4.1% (1989)

      Unemployment rate: 16.0% (1989)

      Budget: revenues $224.0 million; expenditures $211.0 million, including capital expenditures of NA (1985)

      Exports: $344 million (f.o.b., 1989); commodities--nickel metal 87%, nickel ore; partners--France 52.3%, Japan 15.8%, US 6.4%

      Imports: $389 million (c.i.f., 1989); commodities--foods, fuels, minerals, machines, electrical equipment; partners--France 44.0%, US 10%, Australia 9%

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 400,000 kW capacity; 2,200 million kWh produced, 12,790 kWh per capita (1990)

      Industries: nickel mining

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

      Illicit drugs: illicit cannabis cultivation is becoming a principal source of income for some families

      Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $3.9 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--93.28 (January 1991), 99.00 (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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Caledonia Economy 1991 information contained here. All suggestions for corrections of any errors about New Caledonia Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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