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The Economy of New Caledonia

New Caledonian Economy

New Caledonia's map

Economy - overview: 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 15% 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.

GDP:

GDP - real growth rate: NA%

GDP - per capita:

GDP - composition by sector: agriculture: 15% industry: 8.8% services: 76.2% (2003)

Population below poverty line:

Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 78,990 (2004)

Labor force - by occupation: agriculture: 20% industry: 20% services: 60% (2002)

Unemployment rate: 17.1% (2004)

Budget: revenues: $996 million expenditures: $1.072 billion (2001 est.)

Industries: nickel mining and smelting

Industrial production growth rate:

Electricity - production: 1.602 billion kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 1.49 billion kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 11,560 bbl/day (2006 est.)

Oil - exports: 356.2 bbl/day (2005)

Oil - imports: 11,780 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

Agriculture - products: vegetables; beef, deer, other livestock products; fish

Exports: $1.341 billion f.o.b. (2006)

Exports - commodities: ferronickels, nickel ore, fish

Exports - partners: Japan 20.1%, China 14.5%, Taiwan 14.2%, France 11.6%, Belgium 10.4%, Spain 8.6%, South Africa 6.9% (2007)

Imports: $1.998 billion f.o.b. (2006)

Imports - commodities: machinery and equipment, fuels, chemicals, foodstuffs

Imports - partners: France 36.7%, Singapore 14.7%, Australia 12.1%, NZ 5.2%, Germany 4.6% (2007)

Debt - external: $79 million (1998 est.)

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Comptoirs Francais du Pacifique francs (XPF) per US dollar - 87.59 (2007), 94.97 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003)

Fiscal year: