GEOGRAPHICAL NAMES

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 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.

GDP (purchasing power parity):
$183.2 million (2005 est.)
country comparison to the world: 217
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$183.2 million (2005 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
0.1% (2005 est.)
country comparison to the world: 190
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,100 (2005 est.)
country comparison to the world: 117
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 15.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 9.6%
[see also: GDP - composition by sector - industry country ranks ]
services: 75.3% (2004)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
6,820 (2001)
country comparison to the world: 218
[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: 138
[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%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $70.95 million
[see also: Budget - revenues country ranks ]
expenditures: $69.05 million (FY05/06)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
2.1% (2005 est.)
country comparison to the world: 59
[see also: Inflation rate (consumer prices) 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: 145
[see also: Industrial production growth rate country ranks ]

Electricity - production:
31 million kWh (2007 est.)
country comparison to the world: 202
[see also: Electricity - production country ranks ]

Electricity - consumption:
28.83 million kWh (2007 est.)
country comparison to the world: 202
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 195
[see also: Oil - production country ranks ]

Oil - consumption:
1,000 bbl/day (2009 est.)
country comparison to the world: 200
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 146
[see also: Oil - exports country ranks ]

Oil - imports:
495 bbl/day (2007 est.)
country comparison to the world: 198
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 191
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 183
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 195
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 185
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 187
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 191
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
$26.67 million (2005)
country comparison to the world: 57
[see also: Current account balance country ranks ]

Exports:
$5.222 million (2005)
country comparison to the world: 217
[see also: Exports country ranks ]

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

Imports:
$81.04 million (2005)
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: 179
[see also: Debt - external country ranks ]

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