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New Caledonia:
Economy

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Economy - overview
Definition
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 (purchasing power parity)
Definition - World rank and map
$3.158 billion (2003 est.)
GDP (official exchange rate)
Definition
$3.3 billion (2003 est.)
GDP - real growth rate
Definition - World rank and map
NA%
GDP - per capita
Definition - World rank and map
$15,000 (2003 est.)
GDP - composition by sector
Definition
agriculture: 15%
industry: 8.8%
services: 76.2% (2003)
Labor force
Definition
78,990 (2004)
Labor force - by occupation
Definition
agriculture: 20%
industry: 20%
services: 60% (2002)
Unemployment rate
Definition - World rank and map
17.1% (2004)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
1.4% (2000 est.)
Budget
Definition
revenues: $996 million
expenditures: $1.072 billion (2001 est.)
Agriculture - products
Definition
vegetables; beef, deer, other livestock products; fish
Industries
Definition
nickel mining and smelting
Industrial production growth rate
Definition - World rank and map
-0.6% (1996)
Electricity - production
Definition - World rank and map
1.508 billion kWh (2005)
Electricity - consumption
Definition - World rank and map
1.403 billion kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
6,240.5 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
11,000 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
48.9 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
605.7 bbl/day (2004)
Oil - imports
Definition - World rank and map
11,980 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Exports
Definition - World rank and map
$1.341 billion f.o.b. (2006)
Exports - commodities
Definition
ferronickels, nickel ore, fish
Exports - partners
Definition
Japan 21.1%, China 14.6%, Taiwan 14%, France 12.1%, Belgium 10.9%, Spain 9%, Australia 4.1% (2006)
Imports
Definition - World rank and map
$1.998 billion f.o.b. (2006)
Imports - commodities
Definition
machinery and equipment, fuels, chemicals, foodstuffs
Imports - partners
Definition
France 37.8%, Singapore 15.1%, Australia 12%, NZ 5.3%, Germany 4.7% (2006)
Debt - external
Definition - World rank and map
$79 million (1998 est.)
Market value of publicly traded shares
Definition
$NA
Economic aid - recipient
Definition
$524.3 million annual subsidy from France (2004)
Currency (code)
Definition
Comptoirs Francais du Pacifique franc (XPF)
Exchange rates
Definition
Comptoirs Francais du Pacifique francs (XPF) per US dollar - 87.59 (2007), 95.025 (2006), 95.89 (2005), 96.04 (2004), 105.66 (2003)
Fiscal year
Definition
calendar year


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