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EconomyEconomy - overview
Phosphate mining had been the only significant economic activity, but in December 1987 the Australian government closed the mine. In 1991, the mine was reopened. With the support of the government, a $34 million casino opened in 1993 but closed in 1998. Gdp (purchasing power parity)
$NA
Labor force
NA
Budget
Revenues $NA
Expenditures $NA Agriculture - products
NA
Industries
Tourism, phosphate extraction (near depletion) Exports
$NA
Exports - commodities
Phosphate
Imports
$NA
Imports - commodities
Consumer goods
Exchange rates
Australian dollars (AUD) per US dollar - 0.9695 (2011)1.0902 (2010) 1.2822 (2009) 1.2059 (2008) 1.2137 (2007) Fiscal year
1 July - 30 June
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Christmas Island [ Australia ] (Australia):
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Named in 1643 for the day of its discovery, the island was annexed and settlement began by the UK in 1888. Phosphate mining began in the 1890s. The UK transferred sovereignty to Australia in 1958. Almost two-thirds of the island has been declared a national park.