Economy of Oceania

This article is a blank template based on the Economy of Europe article, therefore many headings and dates etc. are unnessecary as they reflect key dates and happenings in Europe's economic history.

Economy of Oceania

During 2003 unless otherwise stated

Population:	32 million (2002)
GDP (PPP) (2003):	$720 billion
GDP (Currency):
GDP/capita (PPP) :	$22,647
GDP/capita (Currency) :
Annual growth of per capita GDP:
Income of top 10%:
Unemployment
Estimated female income
Most numbers are from the UNDP from 2002, some numbers exclude certain countries for lack of information.
See also: World Economy - Economy of Africa - Economy of Asia - Economy of Europe - Economy of North America - Economy of Oceania - Economy of South America

The economy of Oceania is comprised of more than...

Economic development

to be completed - dates taken from European version, need to be changed to reflect major economic changes in Oceania

Future

This Oceania-related article is a stub. You can help Wikipedia by expanding it.

Regional variation

to be completed

Oceania

Trade blocs

Many of the smaller Pacific nations rely on trade with Australia, New Zealand and the United States for exporting goods and for accessing other products.

Currency

Below is a list of the currencies of Oceania, with exchange rates between each currency and both the Euro and US Dollars ^{as of 17th November 2004}.

Country	Currency	worth in Euro	worth in USD	Central Bank
Australia	Australian Dollar	0.566748	0.7546878	Reserve Bank of Australia
Federated States of Micronesia	US Dollar	0.71059	1
Fiji	Fiji Dollar	0.448499	0.5969	Reserve Bank of Fiji
Kiribati	Australian Dollar	0.566748	0.7546878	Reserve Bank of Australia
Marshall Islands	US Dollar	0.71059	1
Nauru	Australian Dollar	0.566748	0.7546878	Reserve Bank of Australia
New Zealand	New Zealand Dollar	0.53287	0.709405	Reserve Bank of New Zealand
Palau	US Dollar	0.71059	1
Papua New Guinea	Kina	0.25	0.33	Bank of Papua New Guinea
Samoa	Tala
Solomon Islands	Solomon Islands dollar
Tonga	Pa'anga			National Reserve Bank of Tonga
Tuvalu	Tuvaluan Dollar
Vanuatu	Vatu	0.00714	0.00909

Table correct as of 17th November 2004

Economic sectors

Fishing and Agriculture

The overwhelming majority of people in the Pacific (not including Australia and New Zealand) work in the Primary sector. Many nations are still quintessentially agricultural; for example, 80% of the population of Vanuatu and 70% of the population of Fiji works in agriculture. The main produce from the pacific is copra or coconut, but timber, beef, palm oil, cocoa, sugar and ginger are also commonly grown across the tropics of the Pacific. Old growth logging is exploited on larger islands, including the Solomons and Papua New Guinea.

Fishing provides a major industry for many of the smaller nations in the Pacific, although many fishing areas are exploited by other larger countries, namely Japan.

[[[Natural Resources]], such as lead, zinc, nickel and gold, are mined accross the West of the region, in the Solomon Islands and Australia.

Manufacturing

The Manufacturing of clothing is a major industry in some parts of the Pacific, escpecially Fiji, although this is decreasing.

Investing and banking

Very little of the economy is in this area, save in the larger countries; Australia and New Zealand.

Other

Recently tourism has become a large source of income for many in the Pacific; tourists come from Australia, New Zealand, Japan, the United Kingdom and the USA. Fiji currently draws almost half a million tourists each year; more than a quarter from Australia. This contributes $300 million to Fiji's economy.

As well as this, many places in the Pacific still rely on foreign aid for development. In the Solomon Islands 50% of Government spendings is paid for by International donors; namely Australia, New Zealand, the European Union, Japan and the Republic of China (Taiwan).

See also

• Oceania

This Oceania-related article is a stub. You can help Wikipedia by expanding it.