Legend:
Definition
Field Listing
Rank Order
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Background:
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Named in 1643 for the day of its discovery, the island was annexed and settlement was begun 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.
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This category includes the entries dealing with the size, development, and management of productive resources, i.e., land, labor, and capital.
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Economy - overview:
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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. The casino closed in 1998. The Australian Government in 2001 agreed to support the creation of a commercial space-launching site on the island, projected to begin operations in the near future
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Gross domestic product (GDP):
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purchasing power parity - NA
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GDP - real growth rate:
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NA
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GDP - composition by sector:
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agriculture: NA
industry: NA
services: NA
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Labor force:
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NA
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Labor force - by occupation:
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NA
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Budget:
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revenues: NA
expenditures: NA, including capital expenditures of NA
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Agriculture - products:
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NA
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Industries:
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tourism, phosphate extraction (near depletion)
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Exports:
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NA
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Exports - commodities:
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phosphate
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Exports - partners:
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Australia, NZ
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Imports:
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NA
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Imports - commodities:
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consumer goods
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Imports - partners:
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principally Australia
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Economic aid - recipient:
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NA
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Currency:
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Australian dollar (AUD)
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Currency code:
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AUD
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Exchange rates:
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Australian dollars per US dollar - 1.3766 (2004), 1.5419 (2003), 1.9354 (2002), 1.932 (2001), 1.7173 (2000)
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Fiscal year:
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1 July - 30 June
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This category includes the entries dealing with a country's military structure, manpower, and expenditures.
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Military - note:
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defense is the responsibility of Australia
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This category includes entries that deal with current issues going beyond national boundaries.
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International disputes:
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none
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In general, information available as of May 2005
was used in the preparation of Country Facts 2005.
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