Economy Of New Caledonia
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Economy overview
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New Caledonia has about 25% of the world's known nickel resources. Only a small amount of the land is suitable for cultivation, and food accounts for about 20% of imports. In addition to nickel, substantial financial support from France - equal to more than one-fourth of GDP - and tourism are keys to the health of the economy. Substantial new investment in the nickel industry, combined with the recovery of global nickel prices, brightens the economic outlook for the next several years.
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GDP
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purchasing power parity - $3.158 billion (2003 est.)
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GDP - real growth rate
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NA
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GDP - per capita
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purchasing power parity - $15,000 (2003 est.)
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GDP - composition by sector
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agriculture: 5%
industry: 30%
services: 65% (1997 est.)
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Investment gross fixed
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Population below poverty line
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NA
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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-0.6% (2000 est.)
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Labor force
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79,400 (including 15,018 unemployed, 1996)
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Labor force by occupation
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agriculture 7%, industry 23%, services 70% (1999 est.)
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Unemployment rate
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19% (1996)
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Budget
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revenues: $861.3 million
expenditures: $735.3 million, including capital expenditures of $52 million (1996 est.)
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Public debt
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Agriculture products
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vegetables; beef, deer, other livestock products
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Industries
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nickel mining and smelting
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Industrial production growth rate
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-0.6% (1996)
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Electricity production
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1.613 billion kWh (2001)
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Electricity production by source
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fossil fuel: 76.3%
hydro: 23.7%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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1.5 billion kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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0 kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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8,750 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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Exports
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$448 million f.o.b. (2002)
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Exports commodities
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ferronickels, nickel ore, fish
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Exports partners
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Japan 21.8%, France 19.2%, Taiwan 14%, Spain 11%, South Korea 8.5%, Australia 7.2%, Italy 5.1% (2003)
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Imports
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$1.007 billion f.o.b. (2002)
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Imports commodities
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machinery and equipment, fuels, chemicals, foodstuffs
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Imports partners
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France 46.1%, Australia 9.5%, Singapore 9.3%, New Zealand 4.3% (2003)
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Reserves of foreign exchange gold
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Debt external
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$79 million (1998 est.)
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Economic aid recipient
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$880 million annual subsidy from France (1998)
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Currency
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Comptoirs Francais du Pacifique franc (XPF); note - may adopt the euro in 2003
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Currency code
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XPF
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Exchange rates
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Comptoirs Francais du Pacifique francs (XPF) per US dollar - 105.73 (2003), 126.72 (2002), 133.26 (2001), 129.44 (2000), 111.93 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English to French Translation .
This information was reproduced in part from the CIA World Fact book.
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