Economy — New Caledonia
GDP, employment, industries, public finance, and currency.
Profile updated 2026-06-02
⚡ Economy at a glance
GDP, employment, industries, public finance, and currency. Key figure for New Caledonia: New Caledonia has 11% of the world's nickel reserves, representing the second largest reserves on the planet. Only a small amount of the land is suitable for cultivation, and food accounts for about 20% of imports. In addition to nickel, substantial financial support from France - equal to more than 15% of GD…
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Economic overview
- Economic Overview
New Caledonia has 11% of the world's nickel reserves, representing the second largest reserves on the planet.
Only a small amount of the land is suitable for cultivation, and food accounts for about 20% of imports.
In addition to nickel, substantial financial support from France - equal to more than 15% of GDP - and tourism are keys to the health of the economy.
With the gradual increase in the production of two new nickel plants in 2015, average production of metallurgical goods stood at a record level of 94 thousand tons.
However, the sector is exposed to the high volatility of nickel prices, which have been in decline since 2016.
In 2017, one of the three major mining firms on the island, Vale, put its operations up for sale, triggering concerns of layoffs ahead of the 2018 independence referendum.
- Industries
nickel mining and smelting
- GDP - per capita (PPP)
$38,800.00 (USD)
- GDP - real growth rate
2.8%
GDP & growth
- GDP - Gross Domestic Product (PPP)
$11,100,000,000 (USD)
- GDP Per Capita
$38,800.00 (USD)
- GDP - real growth rate
2.8%
- GDP - official exchange rate
$11,100,000,000 (USD)
- GDP - composition, by end use
- household consumption: 62.8%
- government consumption: 25%
- investment in fixed capital: 43.1%
- investment in inventories: 0%
- exports of goods and services: 21.9%
- imports of goods and services: -52.8%
- GDP by Sector- agriculture
1.4%
- GDP by Sector- Industry
26.4%
- GDP by Sector- services
72.2%
Prices & money
- Inflation Rate
1.4%
- Exchange Rate per US Dollar
Comptoirs Francais du Pacifique franc (XPF); note - may adopt the euro in 2003
- Currency Name and Code
CFP Franc (XPF)
- Fiscal Year
calendar year
Employment & labor
- Labor Force
102,600
- Unemployment Rate
17.1%
- Major Industries
nickel mining and smelting
- Agriculture Products
vegetables; beef, deer, other livestock products
Public finance
- Annual Budget
$996,000,000 (USD)
