New Caledonia - Economy
How is the economy of New Caledonia? Based on the information we have, New Caledonia has a upper-middle-income French Pacific territorial economy; enormous nickel reserves; ongoing French independence negotiations; large Chinese nickel exporter; luxury eco-tourism destination; large French aid recipient; high cost-of-living; lingering wealth disparities. Key agricultural products in this country include: coconuts, vegetables, fruits, pork, beef, maize, eggs, bananas, yams, oranges (2023).
More about the economy of New Caledonia
Labor force 130,800 (2024 est.)
Industrial production growth rate
Industries nickel mining and smelting
Population below poverty line
Taxes and other revenues
Fiscal year
Exchange rates
Currency Comptoirs Francais du Pacifique francs (XPF) per US dollar -
Exchange rates 2024 110.306 (2024 est.)
Exchange rates 2023 110.347 (2023 est.)
Exchange rates 2022 113.474 (2022 est.)
Exchange rates 2021 100.88 (2021 est.)
Exchange rates 2020 104.711 (2020 est.)
Current account balance
Current account balance 2016 -$654.237 million (2016 est.)
Current account balance 2015 -$1.119 billion (2015 est.)
Current account balance 2014 -$1.3 billion (2014 est.)
Public debt
Public debt 2014 6.5% of GDP (2014 est.)
Budget
Revenues $1.995 billion (2015 est.)
Expenditures $1.993 billion (2015 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 6.5% of GDP (2022 est.)
Remittances 2021 6.2% of GDP (2021 est.)
Remittances 2020 6.6% of GDP (2020 est.)
Imports
Imports 2021 $2.26 billion (2021 est.)
Imports 2020 $2.1 billion (2020 est.)
Imports 2019 $2.48 billion (2019 est.)
Imports (partners) France 36%, Singapore 16%, Australia 15%, China 6%, NZ 3% (2023)
Comodities Imports force refined petroleum, coal, cars, aircraft, packaged medicine (2023)
Exports
Imports 2021 $2.26 billion (2021 est.)
Imports 2020 $2.1 billion (2020 est.)
Imports 2019 $2.48 billion (2019 est.)
Exports (partners) China 75%, Japan 9%, Taiwan 3%, India 3%, France 2% (2023)
Comodities Exports force iron alloys, nickel, nickel ore, processed crustaceans, shellfish (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $8.469 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $8.642 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $8.678 billion (2022 est.)
GDP (official exchange rate) $10.129 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $34,600 (2024 est.)
Real GDP per capita 2023 $35,000 (2023 est.)
Real GDP per capita 2022 $33,500 (2022 est.)
GDP - composition, by sector of origin
Agriculture 1.8% (2019 est.)
Industry 22.3% (2019 est.)
Services 65.2% (2019 est.)
GDP - composition, by end use
Household consumption 65.6% (2017 est.)
Government consumption 23.5% (2017 est.)
Investment in fixed capital 27.9% (2017 est.)
Investment in inventories -0.1% (2017 est.)
Exports of goods and services 21% (2017 est.)
Imports of goods and services -37.9% (2017 est.)
Unemployment rate
Unemployment rate 2024 11.2% (2024 est.)
Unemployment rate 2023 11% (2023 est.)
Unemployment rate 2022 10.8% (2022 est.)
Youth unemployment rate (ages 15-24)
Total 32.7% (2024 est.)
Male 30.2% (2024 est.)
Female 35.7% (2024 est.)
All Important Facts about New Caledonia

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New Caledonia is found in Melanesia