Economy - overview The economy is heavily dependent on aid from New Zealand as Niue hasno indigenous export product. Government expenditures regularly exceed revenues,with the shortfall made up by grants from New Zealand - the grants are usedto pay wages to public employees. Niue has cut government expenditures in1994-96, however, by reducing the public service by almost half. The agriculturalsector consists mainly of subsistence gardening, although some cash cropsare grown for export. Industry consists primarily of small factories to processpassion fruit, lime oil, honey, and coconut cream. The sale of postage stampsto foreign collectors is an important source of revenue. The island in recentyears has suffered a serious loss of population because of migration of Niueansto New Zealand.

GDP purchasing power parity - $2.4 million (1993 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $1,200 (1993 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Inflation rate - consumer price index 5% (1992)

Labor force
total: 1,000 (1981 est.)
by occupation: most work on family plantations; paid work exists only in governmentservice, small industry, and the Niue Development Board

Unemployment rate NA%

Budget
revenues: $5.5 million
expenditures: $6.3 million, including capital expenditures of $NA (1985 est.)

Industries tourism, handicrafts, food processing

Industrial production growth rate NA%

Electricity - capacity NA kW

Electricity - production NA kWh

Electricity - consumption per capita NA kWh

Agriculture - products coconuts, passion fruit, honey, limes, taro, yams, cassava (tapioca),sweet potatoes; pigs, poultry, beef cattle

Exports
total value: $117,500 (f.o.b., 1989)
commodities: canned coconut cream, copra, honey, passion fruit products, pawpaw,root crops, limes, footballs, stamps, handicrafts
partners: NZ 89%, Fiji, Cook Islands, Australia

Imports
total value: $4.1 million (c.i.f., 1989)
commodities: food, live animals, manufactured goods, machinery, fuels, lubricants,chemicals, drugs
partners : NZ 59%, Fiji 20%, Japan 13%, Western Samoa, Australia, US

Debt - external $NA

Economic aid
recipient: ODA, $5.9 million from NZ (FY95/96)

Currency 1 New Zealand dollar (NZ$) = 100 cents

Exchange rates New Zealand dollars (NZ$) per US$1 - 1.4247 (January 1997), 1.4543 (1996),1.5235 (1995), 1.6844 (1994), 1.8495 (1993), 1.8584 (1992)

Fiscal year 1 April - 31 March

NOTE: The information regarding Niue 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 Niue Economy 1997 information contained here. All suggestions for corrections of any errors about Niue Economy 1997 should be addressed to the CIA.