Cook Islands Economy: from the All Country Info reference guide to country facts

Cook Islands Economy

Cook Islands Economy: A summary of information about Cook Islands Economy, from government research data as well as independent research and other sources.

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Cook Islands: Economy

Economy - overview
Like many other South Pacific island nations, the
Cook Islands' economic development is hindered by the isolation of the
country from foreign markets, lack of natural resources, periodic
devastation from natural disasters, and inadequate infrastructure.
Agriculture provides the economic base with major exports made up of
copra and citrus fruit. Manufacturing activities are limited to
fruit-processing, clothing, and handicrafts. Trade deficits are made
up for by remittances from emigrants and by foreign aid,
overwhelmingly from New Zealand. Efforts to exploit tourism potential,
encourage offshore banking, and expand the mining and fishing
industries have been partially successful in stimulating investment
and growth.
GDP
purchasing power parity - $112 million (1998 est.)
GDP - real growth rate
NA%
GDP - per capita
purchasing power parity - $5,600 (1998 est.)
GDP - composition by sector
agriculture: 18%
industry: 9%
services: 73% (1995)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
2.6% (1994 est.)
Labor force
6,601 (1993)
Labor force - by occupation
agriculture 29%, industry 15%, services
56% (1995)
Unemployment rate
NA%
Budget
revenues: $NA
expenditures: $NA, including capital expenditures of $NA
Industries
fruit processing, tourism
Industrial production growth rate
NA%
Electricity - production
15 million kWh (1998)
Electricity - production by source
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
14 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
copra, citrus, pineapples, tomatoes, beans,
pawpaws, bananas, yams, taro, coffee
Exports
$4.2 million (f.o.b., 1994 est.)
Exports - commodities
copra, papayas, fresh and canned citrus fruit,
coffee; fish; pearls and pearl shells; clothing
Exports - partners
NZ 80%, Japan, Hong Kong (1993)
Imports
$85 million (c.i.f., 1994)
Imports - commodities
foodstuffs, textiles, fuels, timber, capital
goods
Imports - partners
NZ 49%, Italy, Australia (1993)
Debt - external
$141 million (1996 est.)
Economic aid - recipient
$13.1 million (1995); note - New Zealand
furnishes the greater part
Currency
1 New Zealand dollar (NZ$) = 100 cents
Exchange rates
New Zealand dollars (NZ$) per US$1 - 1.9451 (January
2000), 1.8886 (1999), 1.8632 (1998), 1.5083 (1997), 1.4543 (1996),
1.5235 (1995)
Fiscal year
1 April - 31 March
Locations:
Home
Afghanistan
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American Samoa
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Argentina
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