Part 553

US diplomatic representation: none (self-governing territory in free association with New Zealand)

Flag: yellow with the flag of the UK in the upper hoist-side quadrant; the flag of the UK bears five yellow five-pointed stars - a large one on a blue disk in the center and a smaller one on each arm of the bold red cross

Economy -------

Economic overview: The economy is heavily dependent on aid from New Zealand. Government expenditures regularly exceed revenues, with the shortfall made up by grants from New Zealand - the grants are used to pay wages to public employees. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories to process passion fruit, lime oil, honey, and coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue. The island in recent years has suffered a serious loss of population because of migration of Niueans to New Zealand.

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

GDP real growth rate: NA%

GDP per capita: $1,200 (1993 est.)

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

Inflation rate (consumer prices): 5% (1992)

Labor force: 1,000 (1981 est.) by occupation: most work on family plantations; paid work exists only in government service, 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: 1,500 kW production: 2.7 million kWh consumption per capita: 1,490 kWh (1992)

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

Exports: $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: $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

External debt: $NA

Economic aid: recipient: ODA, $NA

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

Exchange rates: New Zealand dollars (NZ$) per US$1 - 1.5138 (January 1996), 1.5235 (1995), 1.6844 (1994), 1.8495 (1993), 1.8584 (1992), 1.7265 (1991)

Fiscal year: 1 April - 31 March

Transportation --------------

Railways: 0 km

Highways: total: 229 km unpaved: 229 km

Ports: none; offshore anchorage only

Merchant marine: none