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

Economy - overview: The economy is heavily dependent on aid from New
Zealand as Niue has no indigenous export product. 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. Niue has cut government expenditures in 1994-96, however,
by reducing the public service by almost half. 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: 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 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: 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)

Curren