Niue Business
• Main exports: Root crops, coconuts, honey and fruit.
• Main imports: Food, live animals, manufactured goods, machinery and fuels.
• Main trade partners: New Zealand, Fiji, Cook Islands and Australia.
Economy
Tourism is worth about US$1 million annually, but there is still a budgetary shortfall. This is largely made up for by aid from New Zealand. Niue began developing an offshore financial services industry in the 1990s, but the International Banking Repeal Act of 2002 terminated all offshore banking licences. The island suffers an ongoing population drain as its educated youth leaves in search of work abroad.
Economic growth was reported as 6.2% in 2003. Inflation was 4% in 2005 and unemployment was 12% in 2001.
Business Etiquette
Office hours: Mon-Fri 0730-1530 or 0800-1600.
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