Economy (Tokelau)
=================


     Overview:
         Tokelau's small size, isolation, and lack of resources greatly restrain
         economic development and confine agriculture to the subsistence level. The
         people must rely on aid from New Zealand to maintain public services, annual
         aid being substantially greater than GDP. The principal sources of revenue
         come from sales of copra, postage stamps, souvenir coins, and handicrafts.
         Money is also remitted to families from relatives in New Zealand.
     GDP:
         exchange rate conversion - $1.4 million, per capita $800; real growth rate
         NA% (1988 est.)
     Inflation rate (consumer prices):
         NA%
     Unemployment rate:
         NA%
     Budget:
         revenues $430,830; expenditures $2.8 million, including capital expenditures
         of $37,300 (FY87)
     Exports:
         $98,000 (f.o.b., 1983)
       commodities:
         stamps, copra, handicrafts
       partners:
         NZ
     Imports:
         $323,400 (c.i.f., 1983)
       commodities:
         foodstuffs, building materials, fuel
       partners:
         NZ
     External debt:
         none
     Industrial production:
         growth rate NA%
     Electricity:
         200 kW capacity; 300,000 kWh produced, 180 kWh per capita (1990)
     Industries:
         small-scale enterprises for copra production, wood work, plaited craft
         goods; stamps, coins; fishing
     Agriculture:
         coconuts, copra; basic subsistence crops - breadfruit, papaya, bananas;
         pigs, poultry, goats
     Economic aid:
         Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $24
         million
     Currency:
         New Zealand dollar (plural - dollars); 1 New Zealand dollar (NZ$) = 100
         cents
     Exchange rates:
         New Zealand dollars (NZ$) per US$1 - 1.8245 (March 1992), l.7265 (1991),
         1.6750 (1990), 1.6708 (1989), 1.5244 (1988), 1.6886 (1987)
     Fiscal year:
         1 April-31 March