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    Cook Islands Economy - 1989

      Overview: Agriculture provides the economic base. The major export earners are fruit, copra, and clothing. Manufacturing activities are limited to a fruit-processing plant and several clothing factories. Economic development is hindered by the isolation of the islands from foreign markets and a lack of natural resources and good transportation links. A large trade deficit is annually made up for by remittances from emigrants and from foreign aid. Current economic development plans call for exploiting the tourism potential and expanding the fishing industry.

      GDP: $21.3 million, per capita $1,200; real growth rate NA% (FY86 est.)

      Inflation rate (consumer prices): 9.9% (1986)

      Unemployment rate: NA%

      Budget: revenues $89.3 million; expenditures NA, including capital expenditures of $32.3 million (FY87)

      Exports: $3.2 million (f.o.b., 1986); @m5commodities--copra, fresh and canned fruit, clothing; @m5partners--NZ 80%, Japan

      Imports: $26.4 million (c.i.f., 1986); @m5commodities--foodstuffs, textiles, fuels, timber; @m5partners--NZ 49%, Japan, Australia, US

      External debt: $NA

      Industrial production: growth rate NA%

      Electricity: 4,750 kW capacity; 15 million kWh produced, 830 kWh per capita (1988)

      Industries: fruit processing, tourism

      Agriculture: export crops--copra, citrus fruits, pineapples, tomatoes, bananas; subsistence crops--yams, taro

      Aid: NZ, Australia, and Western sources, $9.34 million (1983)

      Currency: New Zealand dollar (plural--dollars); 1 New Zealand dollar (NZ$) = 100 cents

      Exchange rates: New Zealand dollars (NZ$) per US$1--1.5985 (January 1989), 1.5244 (1988), 1.6886 (1987), 1.9088 (1986), 2.0064 (1985)

      Fiscal year: 1 April-31 March

      NOTE: The information regarding Cook Islands on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Cook Islands Economy 1989 information contained here. All suggestions for corrections of any errors about Cook Islands Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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