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Country facts
| Capital city: |
Noumea |
| Surface area: |
18,600 sq km |
| Population: |
240,390 |
| Official language(s): |
French |
| Head of State: |
President HE Mr Nicolas Sarkozy |
| Head of Government: |
President Mr Harold Martin |
| Australian exports to New Caledonia: |
A$359 million |
| Australian imports from New Caledonia: |
A$85 million |
| New Caledonia's principal export destinations: |
Japan, France, China |
| New Caledonia's principal import sources: |
France, Singapore, Australia | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Economic climate
New Caledonia enjoys political stability, and a flourishing economy,
thanks to the nickel mining and processing industry. There are strong
tax incentives to develop export oriented activities, such as tuna
fishing, prawn farming, deer farming, to develop hotel resorts and
tourism. The local manufacturing sector is already well structured, and
investment is welcomed to further enhance this sector.
Major investments are expected to take place in mining and
metallurgical operations over the next few years, with two world scale
nickel producers finalising cost assessments to build processing plants
in the north and south of the mainland, with total capital cost
investment valued in excess of US$3.4 billion dollars.
New Caledonia has 25 per cent of the world’s nickel reserves.
The local economy is driven by the nickel industry (mining and
processing), which employs 3,200 workers and generate 90 per cent of
total exports. Major projects in the mining sector could impact
significantly on the economic development of New Caledonia.
Key economic indicators and statistics for 2007*:
- GDP - US$7.4 billion
- GDP per capita - US$30,638
- Inflation - 1.8 per cent
*Latest statistics
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
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Following the signature of the Noumea Accord, New Caledonia is
undergoing a progressive transfer of authority and responsibility from
the French Government to the newly formed New Caledonian Government
and provinces. New Caledonia is a territorial collectivity with
specific status endowed with wide autonomy. This transfer should lead
to a vote on accession to full sovereignty between 2014 and 2018.
New Caledonia’s institutions comprise of the following:
- an elected assembly in each of the three provinces (northern, southern and island provinces)
- congress (44 members from the provincial assemblies)
- government (11 members, elected by the congress)
- economic and social council
- the customary senate and councils
The three provinces and 33 municipalities freely administrate
themselves in assemblies elected by direct universal suffrage. Each of
the 11 members of government, lead and control a given sector of the
administration.
The following sectors are administrated by the New Caledonian authorities:
- taxation
- work legislation
- economic development
- environment
- health
- primary education
- mining
- infrastructures
- foreign trade relations
The areas of responsibility of the French state are:
- defence
- justice
- external affairs
- currency
- law and order
- enforcement of laws
- secondary education
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Major Australian exports to New Caledonia (2007-08):- Civil engineering equipment and parts - A$26 million
- Coal - A$22 million
- Prefabricated buildings - A$18 million
- Wheat - A$11 million
Major Australian imports to New Caledonia (2007-08):
- Iron ore - A$79 million
- Crustaceans - A$1 million
- Non-ferrous waste and scrap - A$1 million
- Civil engineering equipment - A$1 million
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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