The Cook Islands

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 made up 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 lived beyond its means, 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.

$183.2 million (2005 est.)

$183.2 million (2005 est.)

0.1% (2005 est.)

$9,100 (2005 est.)

6,820 (2001)

13.1% (2005)

NA%

2.1% (2005 est.)

copra, citrus, pineapples, tomatoes, beans, pawpaws, bananas, yams, taro, coffee; pigs, poultry

fruit processing, tourism, fishing, clothing, handicrafts

1% (2002)

31 million kWh (2007 est.)

28.83 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

1,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

495 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

$26.67 million (2005)

$5.222 million (2005)

copra, papayas, fresh and canned citrus fruit, coffee; fish; pearls and pearl shells; clothing

$81.04 million (2005)

foodstuffs, textiles, fuels, timber, capital goods

$141 million (1996 est.)

NZ dollars (NZD) per US dollar - 1.4015 (2009), 1.4151 (2008), 1.3811 (2007), 1.5408 (2006)