The Institut d’Outremer is a French institution. It is the bank of New Caledonian banks.  It is notably in charge ofcoin money and conducting economic surveys. It has just published a panorama of Caledonia.  Here are the main figures.

Population growth in slow motion

271,407 inhabitants (census end 2019)

2014 – 2019: negative migratory balance: – 9000 people: a first since 1983.

Positive natural balance: +12,500 people.

1% growth compared to 9.4% in the previous census

Northern Province: 18% of the population (-600 inhabitants).

South Province: 75% of the population (+3,200 inhabitants).

Islands Province: 7% of the population (stable).

 

A slowing economy

Total employment: 2019: 88,000 employees.

65,700 in the private sector :

2009-2015: +2.1% per year

2015-2018 : -0.7% per year

22,300 in the public

2009-2019: +1.0% per year

 

Foreign trade deficits

Balance of trade deficit: -136 billion XPF in 2019

Coverage rate: 49.5% on average over 10 years

 

A slower growth regime

GDP: 1,028 billion XPF in 2018 (+0.6% over one year)

 

Moderate headline inflation

Since 2010: < 1% on average

In 2019: +0.3%.

 

Heterogeneous developments in the main business sectors

A modest but developing tourism sector

 

Tourist numbers on the rise

+2.8% per year on average over 2009-2019

113,000 tourists per year on average

Record in 2019: 130,000 tourists

 

 

A decade of growth for the nickel industry

Construction of two new factories.

Mining and metal production doubles between 2009 and 2019.

 

Volatile nickel prices

2007-2008 > $30,000/tonne

2015 < $10,000/tonne

2019 = $13,900/tonne

 

Construction sector activity in contraction

Number of enterprises and salaried jobs down

-3.8% average number of companies per year (2012-2019)

-4.1% for employment

 

Cement consumption down

-5.7% per year on average over 2009-2019

(reaches its lowest level in 2019).

 

 

Continuous development of the financing activity of the economy

9 credit institutions established locally

4 “out-of-area” institutions complete the territory’s financing offer

Healthy outstanding loans: +4.9% per year on average between 2009 and 2019

Total outstanding deposits: +3.3% per year on average between 2009 and 2019