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Cook Islands Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Cook Islands Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

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, the limited size of domestic markets, lack of natural resources, periodic devastation from natural disasters, and inadequate infrastructure. Agriculture, employing more than one-quarter of the working population, provides the economic base with major exports of copra and citrus fruit. Black pearls are the Cook Islands' leading export. Manufacturing activities are limited to fruit processing, clothing, and handicrafts. Trade deficits are offset by remittances from emigrants and by foreign aid overwhelmingly from New Zealand. In the 1980s and 1990s, the country became overextended, maintaining a bloated public service and accumulating a large foreign debt. Subsequent reforms, including the sale of state assets, the strengthening of economic management, the encouragement of tourism, and a debt restructuring agreement, have rekindled investment and growth.

GDP (purchasing power parity):
$244.1 million (2010 est.) $183.2 million (2005 est.)
country comparison to the world: 219

GDP (official exchange rate):
$244.1 million (2010 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.1% (2005 est.)
country comparison to the world: 201
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$12,300 (2010 est.) $9,100 (2005 est.)
country comparison to the world: 127

GDP - composition, by sector of origin:
agriculture: 5.1%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 12.7%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 82.1% (2010 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
copra, citrus, pineapples, tomatoes, beans, pawpaws, bananas, yams, taro, coffee; pigs, poultry

Industries:
fruit processing, tourism, fishing, clothing, handicrafts

Industrial production growth rate:
1% (2002)
country comparison to the world: 164
[see also: Industrial production growth rate country ranks ]

Labor force:
6,820 (2001)
country comparison to the world: 219
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 29%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 15%
[see also: Labor force - by occupation - industry country ranks ]
services: 56% (1995)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
13.1% (2005)
country comparison to the world: 165
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $86.9 million
[see also: Budget - revenues country ranks ]
expenditures: $77.9 million (2010)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
35.6% of GDP (2010 est.)
country comparison to the world: 53
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
3.7% of GDP (2010 est.)
country comparison to the world: 9
[see also: Budget surplus (+) or deficit (-) country ranks ]

Fiscal year:
1 April - 31 March

Inflation rate (consumer prices):
2.2% (2011 est.)
country comparison to the world: 103
[see also: Inflation rate (consumer prices) country ranks ]

Stock of narrow money:
$38.99 million (31 December 2011 est.)
country comparison to the world: 191
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$148.2 million (31 December 2011 est.) $170.9 million (31 December 2010 est.)
country comparison to the world: 193
[see also: Stock of broad money country ranks ]

Current account balance:
$26.67 million (2005)
country comparison to the world: 56
[see also: Current account balance country ranks ]

Exports:
$3.125 million (2011 est.) $5.163 million (2010 est.)
country comparison to the world: 219
[see also: Exports country ranks ]

Exports - commodities:
copra, papayas, fresh and canned citrus fruit, coffee; fish; pearls and pearl shells; clothing

Imports:
$109.3 million (2011 est.) $90.62 million (2010 est.)
country comparison to the world: 212
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, textiles, fuels, timber, capital goods

Debt - external:
$141 million (1996 est.)
country comparison to the world: 191
[see also: Debt - external country ranks ]

Exchange rates:
NZ dollars (NZD) per US dollar - 1.416 (2017 est.) 1.4341 (2016 est.) 1.4341 (2015 est.) 1.441 (2014 est.) 1.4279 (2013 est.)

NOTE: 1) The information regarding Cook Islands on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cook Islands Economy 2018 information contained here. All suggestions for corrections of any errors about Cook Islands Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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