Economy - overview New Caledonia has more than 20% of the world's known nickel resources.In recent years, the economy has suffered because of depressed internationaldemand for nickel, the principal source of export earnings. Only a negligibleamount of the land is suitable for cultivation, and food accounts for about25% of imports. In addition to nickel, financial support from France and tourismare key to the health of the economy.

GDP purchasing power parity - $1.5 billion (1995 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $8,000 (1995 est.)

GDP - composition by sector
agriculture : 5%
industry: 35%
services: 60% (1992 est.)

Inflation rate - consumer price index 1.4% (1990)

Labor force
total : 70,044 (1988)
by occupation: agriculture 32%, industry 20%, services 40%, mining 8% (1992)

Unemployment rate 15% (1994)

Budget
revenues: $755.6 million
expenditures: $755.6 million, including capital expenditures of $NA (1995 est.)

Industries nickel mining and smelting

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production 1.12 billion kWh (1994)

Electricity - consumption per capita 5,744 kWh (1995 est.)

Agriculture - products vegetables; beef, other livestock products

Exports
total value: $528 million (f.o.b., 1995)
commodities: nickel metal 24.5%, nickel ore
partners: France 32.2%, Japan 23.5%, Germany 6.7%, US 3.6%, India 1.2%

Imports
total value : $980 million (c.i.f., 1992)
commodities: foods, fuels, minerals, machines, electrical equipment
partners: France 46.3%, ECE 14.9%, Australia 10.2%, Japan 6.3%, New Zealand 4.4%

Debt - external $NA

Economic aid
recipient: ODA, $NA
note: important support from France

Currency 1 CFP franc (CFPF) = 100 centimes

Exchange rates Comptoirs Francais du Pacifique francs (CFPF) per US$1 - 98.48 (January1997), 93.00 (1996), 90.75 (1995), 100.93 (1994), 102.96 (1993), 96.24 (1992);note - linked at the rate of 18.18 to the French franc

Fiscal year calendar year

NOTE: The information regarding New Caledonia on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of New Caledonia Economy 1997 information contained here. All suggestions for corrections of any errors about New Caledonia Economy 1997 should be addressed to the CIA.