Diplomatic representation in the US: none (self-governing territory in free association with New Zealand)
Diplomatic representation from the US: none (self-governing territory in free association with New Zealand)
Flag description: yellow with the flag of the UK in the upper hoist-side quadrant; the flag of the UK bears five yellow five-pointed stars - a large one on a blue disk in the center and a smaller one on each arm of the bold red cross
Economy Niue
Economy - overview: The economy suffers from the typical Pacific island problems of geographic isolation, few resources, and a small population. Government expenditures regularly exceed revenues, and the shortfall is made up by critically needed grants from New Zealand that are used to pay wages to public employees. Niue has cut government expenditures by reducing the public service by almost half. The agricultural sector consists mainly of subsistence gardening, although some cash crops are grown for export. Industry consists primarily of small factories to process passion fruit, lime oil, honey, and coconut cream. The sale of postage stamps to foreign collectors is an important source of revenue. The island in recent years has suffered a serious loss of population because of migration of Niueans to New Zealand. Efforts to increase GDP include the promotion of tourism and a financial services industry, although Premier LAKATANI announced in February 2002 that Niue will shut down the offshore banking industry. Economic aid from New Zealand in 2002 will be about $2.6 million.
GDP: purchasing power parity - $7.6 million (2000 est.)
GDP - real growth rate: -0.3% (2000 est.)
GDP - per capita: purchasing power parity - $3,600 (2000 est.)
GDP - composition by sector: agriculture: NA% industry: NA% services: 55%
Population below poverty line: NA%