Pitcairn Islands:
Economy

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Pitcairn Islands Page

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Other pages in this profile of the Pitcairn Islands:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition 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)	Definition - World rank and map $NA
Labor force	Definition 15 able-bodied men (2004)
Labor force - by occupation	Definition note: no business community in the usual sense; some public works; subsistence farming and fishing
Budget	Definition revenues: $746,000 expenditures: $1.028 million (FY04/05)
Agriculture - products	Definition honey; wide variety of fruits and vegetables; goats, chickens, fish
Industries	Definition postage stamps, handicrafts, beekeeping, honey
Electricity - production	Definition - World rank and map NA kWh; note - electric power is provided by a small diesel-powered generator
Exports	Definition - World rank and map $NA
Exports - commodities	Definition fruits, vegetables, curios, stamps
Imports	Definition - World rank and map $NA
Imports - commodities	Definition fuel oil, machinery, building materials, flour, sugar, other foodstuffs
Economic aid - recipient	Definition $3.465 million (2004)
Currency (code)	Definition New Zealand dollar (NZD)
Exchange rates	Definition New Zealand dollars per US dollar - 1.3811 (2007), 1.5408 (2006), 1.4203 (2005), 1.5087 (2004), 1.7221 (2003)
Fiscal year	Definition 1 April - 31 March