Economy of New Caledonia
New Caledonia is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. As a developed nation, New Caledonia is able to provide its citizens with social services like public education, healthcare, and law enforcement. Citizens of developed nations enjoy a high standard of living and longer life expectancies than citizens of developing nations. Each year, New Caledonia exports around $1.32 billion and imports roughly $3.24 billion. 14.8% of population in the country are unemployed. The total number of unemployed people in New Caledonia is 41,414. The Gini Index of the country is 43.32. New Caledonia is experiencing poor equality. The gap between the richest and poorest citizens in this country is quite noticeable.
Currency
The currency of New Caledonia is cfp franc. The plural form of the word cfp franc is CFP francs. The symbol used for this currency is Fr, and it is abbreviated as XPF. The cfp franc is divided into Cent; there are 100 in one cfp franc.
Credit rating
Credit rating is the extent to which international investors trust a country in paying debts and upholding the country's obligations in terms of crediting. There is no information on the credit rating of New Caledonia.
Central bank
In New Caledonia, the institution that manages the state's currency, money supply, and interest rates is called Overseas Issuing Institute. Locally, the central bank of New Caledonia is called Institut d'émission d'Outre-Mer.
Public debt
New Caledonia has a government debt of 48.4% of the country's Gross Domestic Product (GDP), as assessed in 2014.
Tax information
The corporate tax in New Caledonia is set at 30%. Personal income tax ranges from 0% to 40%, depending on your specific situation and income level.
Finances
The total Gross Domestic Product (GDP) in New Caledonia is 9,712 billion. Based on this statistic, New Caledonia is considered to have a medium economy. Countries with medium economies support an average number of industries and opportunities for investment. It should not be too difficult to find worthwhile investment opportunities in medium economies. The Gross Domestic Product (GDP) per capita in New Caledonia was last recorded at $35 million. The average citizen in New Caledonia has low wealth. Countries with low wealth per capita often have slightly lower life expectancies and lower quality of living among citizens. It can be difficult to find highly skilled workers in countries with low wealth, as it is occasionally difficult for citizens to obtain the requisite education needed for specialized industries. Labor can be found for low rates when compared with countries with higher wealth per capita. GDP Annual Growth Rate in New Caledonia averaged 2.8% in 2014. According to this percentage, New Caledonia is currently experiencing modest growth. Countries that are experiencing modest growth offer safe opportunities for investment; their expanding economy indicates that businesses, jobs, and income will expand accordingly. To read more about financial information click on finances of New Caledonia.
Industry
Major industries in the country are nickel mining and smelting. The total labor force of New Caledonia is 136,130 people, wherein 14.8% of population in the country are unemployed. The total number of unemployed people in New Caledonia is 41,414. The Industrial Production growth rate of New Caledonia is 8%.To read more about industrial information within New Caledonia click on industry of New Caledonia.
Agriculture
There are 59 km2 of arable land in New Caledonia, and it comprises 0% of the country's total territory. There are 100 km2 of cultivated land in New Caledonia. The country's major agricultural crops and products are vegetables, beef, deer, other livestock products, fish.To read more about agriculture click on agriculture of New Caledonia.