Part 604

International organization participation: ESCAP (associate), FZ, ICFTU, SPC, WFTU, WMO

Diplomatic representation in the US: none (overseas territory of France)

Diplomatic representation from the US: none (overseas territory of France)

Flag description: three horizontal bands, blue (top), red, and green, with a yellow disk enclosing a black symbol centered to the hoist side; the flag of France is used for official occasions

Economy

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 international demand for nickel, the principal source of export earnings. Only a negligible amount of the land is suitable for cultivation, and food accounts for about 25% of imports. In addition to nickel, financial support from France and tourism are 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 (January 1997), 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

@New Caledonia:Communications