Cook Islands Economy - 2024

GEOGRAPHICAL NAMES 

Economic overview

high-income self-governing New Zealand territorial economy; tourism-based activity but diversifying; severely curtailed by COVID-19 pandemic; copra and tropical fruit exporter; Asian Development Bank aid recipient

Real GDP (purchasing power parity)

$266 million (2022 est.)
$257 million (2021 est.)
$287 million (2020 est.)

note: data are in 2015 dollars

Real GDP growth rate

10.5% (2022 est.)
-24.5% (2021 est.)
-5.2% (2020 est.)

Real GDP per capita

$15,600 (2022 est.)
$15,100 (2021 est.)
$16,800 (2020 est.)

note: data are in 2015 dollars

GDP (official exchange rate)

$336 million (2022 est.)

Inflation rate (consumer prices)

2.2% (2011 est.)

GDP - composition, by sector of origin

agriculture: 5.1% (2010 est.)

industry: 12.7% (2010 est.)

services: 82.1% (2010 est.)

Agricultural products

vegetables, coconuts, roots/tubers, cassava, papayas, tomatoes, pork, fruit, sweet potatoes, mangoes/guavas

Industries

fishing, fruit processing, tourism, clothing, handicrafts

Industrial production growth rate

1% (2002)

Labor force

6,820 (2001)

Unemployment rate

13.1% (2005)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $86.9 million (2010)

expenditures: $77.9 million (2010)

Budget surplus (+) or deficit (-)

3% (of GDP) (2010 est.)

Taxes and other revenues

29% (of GDP) (2010 est.)

Fiscal year

1 April - 31 March

Current account balance

$26.67 million (2005)

Exports

$31.4 million (2021 est.)
$3.125 million (2011 est.)
$5.163 million (2010 est.)

note: Data are in current year dollars and do not include illicit exports or re-exports.

Exports - partners

Japan 41%, France 18%, Thailand 16%, Greece 7%, China 6% (2021)

Exports - commodities

fish products, recreational boats, paintings, lobsters, tuna (2021)

Imports

$215 million (2021 est.)
$109.3 million (2011 est.)
$90.62 million (2010 est.)

Imports - partners

New Zealand 57%, Turkey 12%, Italy 11%, Israel 5%, Fiji 4% (2021)

Imports - commodities

motorboats, refined petroleum, integrated circuits, lumber, cars, edible preparations, flavored water, beer (2021)

Debt - external

$141 million (1996 est.)

Exchange rates

NZ dollars (NZD) per US dollar -

Exchange rates:
1.416 (2017 est.)
1.4341 (2016 est.)
1.4341 (2015 est.)
1.441 (2014 est.)
1.4279 (2013 est.)

NOTE: The information regarding Cook Islands on this page is re-published from the 2024 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Cook Islands 2024 information contained here. All suggestions for corrections of any errors about Cook Islands 2024 should be addressed to the CIA or the source cited on each page.