|Oceania's economy is largely centered on its two main
countries: Australia and New Zealand. See
Countryaah for details.
Oceania's economy is
basically centered on Australia and New Zealand, due to the
fact that these two countries together make up more than 90%
of the continent and are the only two developed nations in
Australia's Gross Domestic Product, for example, was 1.5
trillion in 2012; that of New Zealand was 171 billion, while
that of Fiji was almost four billion. It is clear that this
gigantic difference is not only in the level of development,
but also in the territorial and population difference, given
that a country with the dimensions and number of inhabitants
of Australia is better able to produce wealth than those
places that are reduced to one. small islands set.
These small countries, moreover, concentrate their
economic activities on tourism, due to the beautiful natural
forms available, which have been scarcely explored. Many of
these territories are highly dependent on food imports,
given the unavailability of arable land. Thus, aspects of
Oceania's economy are basically based on the activities of
its two main powers.
On the other hand, Australia and New Zealand are major
food producers, constituting an advanced and highly
mechanized agriculture, which is linked to a high food
In the Australian territory, the cultivation of tobacco,
wine and wheat stands out, also counting on reserves of
natural gas, coal, uranium, iron ore, gold, copper and many
others. It is, therefore, one of the countries that receives
the most foreign investment in the world. In the Australian
economy, the tertiary sector activities stand out, which
correspond to almost 70% of the local wealth production.
Exports are mainly directed to Asia, with emphasis on China,
which receives a large amount of Australian fuels.
In New Zealand, farming activities are very active in the
production of wool, beef, sheep and pork, in addition to the
production of dairy products and honey on a large scale.
These products are the country's main forms of export. Also
noteworthy is the production of fossil energy resources,
such as oil, natural gas and mineral coal.
Another highlight for Oceania's economy is the existence
of APEC (Economic Cooperation in Asia and the Pacific),
which integrates Australia, New Zealand, Papua New Guinea
and countries in Asia and the Americas, forming one of the
most important economic blocks in the world., for composing
economies such as the United States, China and Japan.
Small countries (Fiji, Marshall Islands, Solomon Islands,
Kiribati, Micronesia, Nauru, Palau, Papua New Guinea, Samoa,
Tonga, Tuvalu and Vanuatu), in addition to tourism in
Oceania, also operate to a lesser extent in agricultural
production subsistence and fishing activity. Its exports
basically consist of primary products, such as cocoa,
coconut and bananas.
Economy of Oceania
The Oceania is a continent made up of
thousands of islands in the South Pacific and is divided
into three regions: Melanesia (black islands), Micronesia
(small islands) and Polynesia (many islands), as well as New
Zealand and Australia. Melanesia owes its name to the native
inhabitants who have black skin and is located in the north,
northeast and east of Australia. Micronesia is made up of
several small islands, and is located in the north and
northeast of Melanesia. Polynesia is the most distant group
of islands, between the northeast and southeast of
Australia, reaching Hawaii (USA), the northeast, and Easter
Island(Chile), to the southeast. Although the continent has
many islands, most of them are territories of France,
England and the United States. Therefore, there are few
independent countries. Economically, only Australia and New
Zealand stand out on the world stage.
The islands of Oceania, except New Zealand, have an
underdeveloped economy, due to natural factors, isolation
from the main markets, small territory, and human factors,
such as overpopulation and lack of qualified labor. Tourism
is the main source of income for the islands, but fishing
and extraction of primary products are also relevant.
Agriculture is practiced in small family units, with rare
large estates on the larger islands. The main agricultural
exports are coconut and derivatives, in addition to cocoa,
spices and sugar cane. The extraction of ores occurs on some
islands, the main ores are copper and gold, in the islands
of Fiji, Solomon and New Guinea, nickel in New Caledonia,
and oil, on the island of Irian Jaya.
Australia is the largest country in Oceania, both in
territory and in population (approximately 70% of the
continent's population), in addition to having the
continent's best developed economy. Primary production,
agriculture and mineral extraction, is of great importance
in the Australian economy. Agriculture has a strong
mechanization, which increases agricultural productivity,
and exports mainly products such as tobacco, wine and wheat,
being one of the largest producers of the latter and derived
products. Australia's main herds are sheep, goats and
cattle. Mineral extraction is the flagship of the Australian
economy. Ores such as bauxite (the world's largest producer)
for the production of aluminum, copper, iron, nickel and
gold are the country's main exports, in addition to others
with less economic impact. The Australian industry is well
diversified, with production of food products, chemical
industry, metallurgy, steel and petrochemicals being the
main industries in the country. Tourism is of great
importance in the economy, mainly study tourism, being one
of the main destinations for those who wish to take a course
New Zealand has changed its economy in recent years,
moving from an economy dependent on agriculture to a
diversified economy. Agriculture still represents an
important slice of the New Zealand economy, mainly sheep and
kiwi exports, in addition to fishing, forestry, fish and
seafood production, and planting and timber extraction -
mainly exported to Asian countries. In the secondary sector,
we see a strong base industry, with steel and metallurgy, in
addition to oil production. Tourism, as in Australia, is of
great importance in the country's economy.
Northern Mariana Islands
In 1990, the UN Security Council's protective status
against the Northern Mariana Islands ceased to be declared a
free state associated with the United States.
The Republicans won a significant majority in the
November 1991 parliamentary elections, deciding that this
majority should be used to change relations with the United
States, giving the Marianas complete financial control over
its 200-mile ocean rights zone.
In 1992, the United States Supreme Court affirmed the
land ownership system in the country, according to which
only the Marians can own land in the country. In 1994,
Froilan C. Tenorio was re-elected governor.
In 1995, there were 22,600 foreign workers in the country
- three times more than the number of workers from the
Marianas themselves. The latter group also had an
unemployment rate of 15%.
In January 1998, Tenorio was re-elected governor. However,
the victory was called into question by the opposition as it
was his 3rd term.
Local officials, supported by key figures among
Republicans in the United States, ran through 1999 an
intense dispute with Bill Clinton's government about the
slave-like conditions under which migrant workers in the
Marianas worked. Despite these criticisms and similar
criticisms from human rights organizations, Washington
prefers workers to be subject to almost slave-like
conditions. It allows companies from the US to settle down,
exploit the cheap labor, and lack of customs regulation
between the Marianas and the US as well as write on their
goods that they are produced in the US.
Since the 1960's, the US military has been responsible for
extensive pollution of the islands. In early 2002, residents
of the Tanapag district of the capital Saipan conducted a
demonstration - backed by Greenpeace - in front of the
United States Attorney General's Office in protest against
the military's indifference and massive environmental
In March 2004, the Commonwealth Development Authority (CDA)
rejected a proposal by Governor Babauta to invest $ 500,000
in Palau Micronesia Air. The investment was considered too
risky. In the same month, a plan to modernize Saipan airport
was presented for several US $ million.
During the period 1990-2005, the annual flow of tourists
- predominantly Japanese - reached over ½ million. Tourism
accounted for half of the country's jobs and 25% of GDP.
In 2006, Governor Benigno Fitial was accused of acting
autocratic in a number of the country's media. He had
decided to revoke the autonomy of a number of state
institutions and place them under his office.
Gender distribution in 2007 was the most uneven in the
world. There were only 0.77 men for each woman.
Even before the onset of the global economic crisis, the
Marianas were severely weakened financially. The islands are
outside the US immigration system, and this had in the years
before opened up to 15,000 Chinese migrant workers working
in the islands textile industry. However, a 2005 WTO
agreement put a stop to this practice and the textile
industry was almost wiped out in 2009 - with serious
economic consequences for the islands' economy.
Deputy Governor Timothy P. Villagomez had to resign in
April 2009 after being convicted of fraud in a comprehensive
case of financial crime. In November 2009, Governor Fitial
was re-elected to the post. He got 51% of the votes in the
2nd rounds after deadly running between the two strongest
candidates in the 1st rounds.
Parliament voted in February 2013 to put Governor Benigno
Fitial in court for a corruption. Post was instead taken
over by Eloy Inos.