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Pitcairn Islands:
Economy

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Pitcairn Islands Page


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


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