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    Pitcairn Islands Index 2006

    Pitcairn Islands Main Index

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    Pitcairn Islands Economy - 2006

      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 Pitcairn's 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):

      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

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

      Agriculture - products:
      honey; wide variety of fruits and vegetables; goats, chickens

      postage stamps, handicrafts, beekeeping, honey

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


      Exports - commodities:
      fruits, vegetables, curios, stamps


      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 - 1.4203 (2005), 1.5087 (2004), 1.7221 (2003), 2.1622 (2002), 2.3788 (2001)

      Fiscal year:
      1 April - 31 March

      NOTE: The information regarding Pitcairn Islands on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Pitcairn Islands Economy 2006 information contained here. All suggestions for corrections of any errors about Pitcairn Islands Economy 2006 should be addressed to the CIA.

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    Revised 06-Jun-06
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