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, maize, beef, pork, eggs, yams, bananas, mangoes/guavas (2022).
More about the economy of New Caledonia
Labor force 119,000 (2023 est.)
Industrial production growth rate 4.3% (2014 est.)
Industries nickel mining and smelting
Population below poverty line
Taxes and other revenues 20.4% (of GDP) (2015 est.)
Fiscal year
Exchange rates
Currency Comptoirs Francais du Pacifique francs (XPF) per US dollar -
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.)
Exchange rates 2019 106.589 (2019 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 2015 6.5% of GDP (2015 est.)
Budget
Revenues $1.995 billion (2015 est.)
Expenditures $1.993 billion (2015 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2022 6.45% of GDP (2022 est.)
Remittances 2021 6.17% of GDP (2021 est.)
Remittances 2020 6.57% 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 30%, Australia 22%, Singapore 13%, China 6%, Malaysia 6% (2022)
Comodities Imports force refined petroleum, coal, cars, packaged medicine, trucks (2022)
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 62%, South Korea 14%, Japan 12%, Taiwan 2%, Spain 2% (2022)
Comodities Exports force iron alloys, nickel ore, nickel, aircraft, essential oils (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2021 $10.266 billion (2021 est.)
Real GDP (purchasing power parity) 2017 $11.11 billion (2017 est.)
Real GDP (purchasing power parity) 2016 $10.89 billion (2016 est.)
GDP (official exchange rate) $9.623 billion (2022 est.)
Real GDP Per capita
Real GDP per capita 2021 $35,700 (2021 est.)
Real GDP per capita 2015 $31,100 (2015 est.)
Real GDP per capita 2014 $32,100 (2014 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 2023 11.22% (2023 est.)
Unemployment rate 2022 11.29% (2022 est.)
Unemployment rate 2021 12.54% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 32.6% (2023 est.)
Male 29.8% (2023 est.)
Female 35.7% (2023 est.)
All Important Facts about New Caledonia

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New Caledonia is found in Melanesia