Oceania > Cook Islands > Economy

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Agriculture > products copra, citrus, pineapples, tomatoes, beans, pawpaws, bananas, yams, taro, coffee; pigs, poultry
Budget > Expenditures	$27,000,000.00		[158th of 165]
Budget > Revenues	$28,000,000.00		[160th of 166]
Current account balance	$26,670,000.00		[59th of 181]
Debt > External	$141,000,000.00		[4th of 136]
Economic aid > Recipient	$13,100,000.00		[29th of 134]
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 about one-third 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.
Exchange rates New Zealand dollars per US dollar - 1.5087 (2004), 1.7221 (2003), 2.1622 (2002), 2.3788 (2001), 2.2012 (2000)
Exports	$5,222,000.00		[171st of 189]
Exports > Commodities copra, papayas, fresh and canned citrus fruit, coffee; fish; pearls and pearl shells; clothing
Exports to US	$700,000.00		[180th of 224]
GDP	$105,000,000.00		[193rd of 203]
GDP (purchasing power parity)	$183,200,000.00		[178th of 187]
GDP > Composition by sector > Agriculture	15.1%		[15th of 146]
GDP > Composition by sector > Industry	9.6%		[33rd of 146]
GDP > Real growth rate	0.1%		[190th of 198]
Imports	$81,040,000.00		[167th of 185]
Inflation rate (consumer prices)	2.1%		[149th of 192]
Tourist arrivals by region of origin > Europe	18,171		[148th of 195]
Trade balance with US	-$600,000.00		[117th of 224]

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