PACIFIC ISLANDS BUSINESS INDICATORS
| Niue | |
| Exchange Rate: 1 $ Local currency = x $US | |
| Currency | NZ$ |
| Calendar Year 1996 | 0.69 |
| Calendar Year 1997 (used in tables) | 0.70 |
| Q1 1998 | 0.57 |
| % Change 1996 - Q1 1998 | -17% |
GENERAL |
|
Land Area |
259 km2 |
EEZ |
390,000 km2 |
GDP |
US$8 million (1994) |
GNP per Capita |
US$3.447 (1994) |
Human Development Index |
0.879 (1994) |
Life Expectancy |
66 years (1987) |
Infant Mortality |
12 per 1000 births (1990) |
| LABOUR FORCE CONTEXT | |
| Population (1,000s latest census) 1 | 2 |
| Potential Labour Force, age 15-59 | 1.10 |
| Unpaid/underemployed labour force (%) 2 | |
| male | 32 |
| female | 32 |
| Quality of Local Labour Force3 | |
| Adult literacy rate (%) | 99 |
| Enrolment rate secondary schools (%) | 87 |
| LABOUR FORCE CONDITIONS | |
| Legislated minimum wage | - |
| Average Wage Rates ($per hour)4 | |
| Managerial | 9.90 |
| Supervisory | 7 |
| Skilled | 4.60 |
| Semi Skilled | 2.20 |
| Unskilled | 2 |
| Normal number of hours work per week | 37.50 |
| No. paid holidays per year | 11 |
| Employer Contributions (% wage bill) | |
| Workers Superannuation Fund | |
| compulsory? | Yes |
| rate (%) | 11.20 |
| Western Compensation Fund | |
| compulsory? | No |
| rate (%)5 | |
| Electricity | |
| connection fee | 21 |
| tariff per kilowat hour | 0.21/0.33 |
| Water & Sewage | |
| water connection fee ($) | n/a |
| sewage connection fee | - |
| sewage rate | - |
| Telephone | |
| installation fee ($) | 35 |
| line/equipment rental rate ($) per year | 84 |
| rate per local call ($) | 0 |
| long distance rates ($) per minute | |
| Japan (Tokyo) | 2.80 |
| USA (Los Angeles) | 2.90 |
| United Kingdom (London) | 2.90 |
| Australia (Sydney) | 1.60 |
| New Zealand (Auckland) | 1.30 |
| Singapore | 2.90 |
| Neighbouring Forum Island countries | |
| Tonga | 1.60 |
| Samoa | |
| Fiji | 1.60 |
| Papua New Guinea | |
| Vanuatu | |
| Marshall Islands | |
| Tuvalu | |
| Kiribati | |
| Federated States of Micronesia | |
| Solomon Islands | |
| Cook Islands | |
| Nauru | |
| Palau | |
| Total Cost 1 year of service 1 | 2,711 |
| Internet/E-mail | |
| connection fee | 35 |
| rental rate per year | 84 |
| no. free hours per month included in rental | n/a |
| rate per additional hour use | n/a |
| Total cost 1 year of service2 | |
| Sea Freight (cif) per cubic metre 1 | |
| Japan (Tokyo) | |
| USA (Los Angeles) | |
| United Kingdom (London) | |
| Australia (Sydney) | 182 |
| New Zealand (Auckland) | 93 |
| Singapore | |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | |
| Fiji | |
| Marshall Islands | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Kiribati | |
| Federated States of Micronesia | |
| Air Freight (cif) per kilogram | |
| Japan (Tokyo) | 10.50 |
| USA (Los Angeles) | 15.00 |
| United Kingdom (London) | 15.80 |
| Australia (Sydney) | 5.30 |
| New Zealand (Auckland) | 2.80 |
| Singapore | 18.80 |
| Neighbouring Forum Island Countries | |
| Tonga | |
| Samoa | |
| Fiji | |
| Marshall Islands | |
| Kiribati | |
| Federated States of Micronesia | |
| Papua New Guinea | |
| Cook Islands | |
| Solomon Islands | |
| Vanuatu | |
| Palau | |
| Land | |
| total area (sq kilometers | 258 |
| Customary land | |
| Proportion customarily owned (%) | n/a |
| Max period for commercial lease (yrs) | 60 |
| Average lease rate per acre per annum | |
| agricultural land ($) | 8.28 |
| commercial land ($) | 210-750 |
| Free hold land | |
| average purchase price per acre | - |
| Factory Space | |
| average annual rental price per sq ft | 0.30 |
| Commercial Banking | |
| Commercial Banks, excl Dev Banks (No) | 1 |
| Lending rate range (% per annum) | 14.85-16.85 |
| Average lending rate (% per annum) | n/a |
| Personal Tax Rates (Brackets) | |
| No tax | |
| rate of 5% | |
| rate of 6% | |
| rate of 8% | |
| rate of 10% | <3,500 |
| rate of 12% | |
| rate of 15% | |
| rate of 20% | |
| rate of 25% | |
| rate of 30% | 3,500-10,500 |
| rate of 35% | |
| rate of 37% | |
| rate of 40% | >10,500 |
| Company Tax Rate (%) | |
| Resident Company | |
| General | 30 |
| Mining | |
| Petroleum | |
| Non-Resident Company | |
| General | 30 |
| Mining | |
| Petroleum | |
| Other Taxes & Fees | |
| Business Gross Receipt tax (%) | |
| GST/Value added tax (%) | - |
| Sales tax (%) | - |
| Annual business licence fees ($) | n/a |
| Import Duty Rates (% range) | |
| manufacturing inputs | 10 |
| general (excluding cigarettes, liquor et) | Oct-40 |