Niue Economic Statistics and Indicators

14, Oct 2019, EDT. Welcome to the Niue economic statistics pages provided by the beta version of EconomyWatch.com's Econ Stats database.

Economic Indicators For: Niue › Change country
National or Regional Currency: New Zealand Dollar, NZD
Year of data: 2015 › Change year
Number of Indicators Listed:
Full Dataset: From Year 1980 to 2019
Date of Last Update: 17th March 2015
Population: 1,190 (July 2014 est.)
Area: total: 260 sq km ; land: 260 sq km ; water: 0 sq km
Natural Resources: fish, arable land
Capital: name: Alofi ; geographic coordinates: 19 01 S, 169 55 W ; time difference: UTC-11 (6 hours behind Washington, DC, during Standard Time)

The economy suffers from the typical Pacific island problems of geographic isolation, few resources, and a small population. Government expenditures regularly exceed revenues, and the shortfall is made up by critically needed grants from New Zealand that are used to pay wages to public employees. Niue has cut government expenditures 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 emigration to New Zealand. Efforts to increase GDP include the promotion of tourism and financial services, although the International Banking Repeal Act of 2002 resulted in the termination of all offshore banking licenses. Economic aid from New Zealand in FY08/09 was US$5.7 million. While in the process of rebuilding, Niue has been dependent on foreign aid.

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