The Economy of Pitcairn Islands

Pitcairn Islands flag

The Economy of Pitcairn Islands

Pitcairn Islander Economy

Pitcairn Islands' map

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:

GDP - real growth rate:

GDP - per capita:

GDP - composition by sector:

Population below poverty line:

Household income or consumption by percentage share:

Distribution of family income - Gini index:

Inflation rate (consumer prices):

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

Unemployment rate:

Budget: revenues: $746,000 expenditures: $1.028 million (FY04/05)

Industries: postage stamps, handicrafts, beekeeping, honey

Industrial production growth rate:

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

Electricity - production by source:

Electricity - consumption:

Electricity - exports:

Electricity - imports:

Oil - production:

Oil - consumption:

Oil - exports:

Oil - imports:

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

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

Exports: $NA

Exports - commodities: fruits, vegetables, curios, stamps

Exports - partners:

Imports: $NA

Imports - commodities: fuel oil, machinery, building materials, flour, sugar, other foodstuffs

Imports - partners:

Debt - external:

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: New Zealand dollars (NZD) per US dollar - 1.4151 (2008 est.), 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004)

Fiscal year:

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