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EconomyEconomy - overview
The inhabitants of this tiny isolated economy exist on fishing, subsistence farming, handicrafts, and postage stamps. The fertile soil of the valleys produces a wide variety of fruits and vegetables, including citrus, sugarcane, watermelons, bananas, yams, and beans. Bartering is an important part of the economy. The major sources of revenue are the sale of postage stamps to collectors and the sale of handicrafts to passing ships. Gdp (purchasing power parity)
$NA
Labor force World Ranking: 230
15 able-bodied men (2004)
Labor force - by occupation
Note
No business community in the usual sense; some public works; subsistence farming and fishing Budget
Revenues $746,000
Expenditures $1.028 million (FY04/05) Agriculture - products
Honey; wide variety of fruits and vegetables; goats, chickens; fish Industries
Postage stamps, handicrafts, beekeeping, honey Electricity - production
NA kWh; note - electric power is provided by a small diesel-powered generator Exports
$NA
Exports - commodities
Fruits, vegetables, curios, stamps Imports
$NA
Imports - commodities
Fuel oil, machinery, building materials, flour, sugar, other foodstuffs Exchange rates
New Zealand dollars (NZD) per US dollar - 1.2658 (2011)1.3874 (2010) 1.6002 (2009) 1.4151 (2008) 1.3811 (2007) Fiscal year
1 April - 31 March
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Pitcairn Islands [ United Kingdom ] (Overseas Territory):
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Pitcairn Island was discovered in 1767 by the British and settled in 1790 by the Bounty mutineers and their Tahitian companions. Pitcairn was the first Pacific island to become a British colony (in 1838) and today remains the last vestige of that empire in the South Pacific. Outmigration, primarily to New Zealand, has thinned the population from a peak of 233 in 1937 to less than 50 today.