Overview: Agriculture provides the economic base. The major export earners are fruit, copra, and clothing. Manufacturing activities are limited to a fruit-processing plant and several clothing factories. Economic development is hindered by the isolation of the islands from foreign markets and a lack of natural resources and good transportation links. A large trade deficit is annually made up for by remittances from emigrants and from foreign aid, largely from New Zealand. Current economic development plans call for exploiting the tourism potential and expanding the fishing industry.

National product: GDP - purchasing power equivalent - $57 million (1993 est.)

National product real growth rate: NA%

National product per capita: $3,000 (1993 est.)

Inflation rate (consumer prices): 6.2% (1990)

Unemployment rate: NA%

Budget:
revenues: $38 million
expenditures: $34.4 million, including capital expenditures of $NA (1993 est.)

Exports: $3.4 million (f.o.b., 1990)
commodities: copra, fresh and canned fruit, clothing
partners: NZ 80%, Japan

Imports: $50 million (c.i.f., 1990)
commodities: foodstuffs, textiles, fuels, timber
partners: NZ 49%, Japan, Australia, US

External debt: $NA

Industrial production: growth rate NA%; accounts for 5% of GDP

Electricity:
capacity: 14,000 kW
production: 21 million kWh
consumption per capita: 1,170 kWh (1990)

Industries: fruit processing, tourism

Agriculture: accounts for 12% of GDP, export crops - copra, citrus fruits, pineapples, tomatoes, bananas; subsistence crops - yams, taro

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $128 million

Currency: 1 New Zealand dollar (NZ$) = 100 cents
Exchange rates: New Zealand dollars (NZ$) per US$1 - 1.7771 (January 1994), 1.8495 (1993), 1.8584 (1992), 1.7265 (1991), 1.6750 (1990), 1.6708 (1989)

Fiscal year: 1 April - 31 March

NOTE: The information regarding Cook Islands on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cook Islands Economy 1995 information contained here. All suggestions for corrections of any errors about Cook Islands Economy 1995 should be addressed to the CIA.