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    Cook Islands Economy - 1991

      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. Current economic development plans call for exploiting the tourism potential and expanding the fishing industry.

      GDP: $40.0 million, per capita $2,200 (1988 est.); real growth rate 5.3% (1986-88 est.)

      Inflation rate (consumer prices): 8.0% (1988)

      Unemployment rate: NA%

      Budget: revenues $33.8 million; expenditures $34.4 million, including capital expenditures of $NA (1990 est.)

      Exports: $4.0 million (f.o.b., 1988); commodities--copra, fresh and canned fruit, clothing; partners--NZ 80%, Japan

      Imports: $38.7 million (c.i.f., 1988); commodities--foodstuffs, textiles, fuels, timber; partners--NZ 49%, Japan, Australia, US

      External debt: $NA

      Industrial production: growth rate NA%

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

      Industries: fruit processing, tourism

      Agriculture: export crops--copra, citrus fruits, pineapples, tomatoes, bananas; subsistence crops--yams, taro

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

      Currency: New Zealand dollar (plural--dollars); 1 New Zealand dollar (NZ$) = 100 cents

      Exchange rates: New Zealand dollars (NZ$) per US$1--1.6798 (January 1991), 1.6750 (1990), 1.6711 (1989), 1.5244 (1988), 1.6886 (1987), 1.9088 (1986), 2.0064 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Cook Islands on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cook Islands Economy 1991 information contained here. All suggestions for corrections of any errors about Cook Islands Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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