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Economy of Niue

Niue is considered to be a developing 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 developing nation, Niue may not be able to offer consistent social services to its citizens. These social services may include things like public education, reliable healthcare, and law enforcement. Citizens of developing nations may have lower life expectancies than citizens of developed nations. Each year, Niue exports around $0 billion and imports roughly $0.01 billion. 10.7% of population in the country are unemployed.

Currency

The symbol used for this currency is $.

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 Niue.

Central bank

In Niue, the institution that manages the state's currency, money supply, and interest rates is called Reserve Bank of New Zealand.

Public debt

Niue has a government debt of 41% of the country's Gross Domestic Product (GDP), as assessed in 2014.

Tax information

The corporate tax in Niue is set at 30%. Personal income tax ranges from 10% to 30%, depending on your specific situation and income level. VAT in Niue is 12.5%.

Finances

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Niue is $0.01 billion. The total Gross Domestic Product (GDP) in Niue is 15,454 billion. Based on this statistic, Niue 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. GDP Annual Growth Rate in Niue averaged 6.2% in 2014. According to this percentage, Niue is currently experiencing significant growth. Countries that are experiencing significant growth offer the best chance for a substantial return on investment, as GDP growth rate is the most important indicator of economic health. As GDP grows, business, jobs, and personal income grow as well. To read more about financial information click on finances of Niue.

Industry

Major industries in the country are handicrafts, food processing. The total labor force of Niue is 663 people, wherein
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10.7% of population in the country are unemployed. The total number of unemployed people in Niue is 0. To read more about industrial information within Niue click on industry of Niue.

Agriculture

There are 30 km2 of arable land in Niue, and it comprises 11% of the country's total territory. There are 70 km2 of cultivated land in Niue. The country's major agricultural crops and products are coconuts, passion fruit, honey, limes, taro, yams, cassava, sweet potatoes, pigs, poultry, beef cattle.To read more about agriculture click on agriculture of Niue.