CIA Factbook The World Factbook 1994: Cook IslandsEconomy 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, largely from New Zealand. Current economic development plans call for exploiting the tourism potential and expanding the fishing industry. National product: GDP—purchasing power equivalent —$57 million (1993 est.) National product real growth rate: NA% National product per capita: $3,000 (1993 est.) Inflation rate (consumer prices): 6.2% (1990) Unemployment rate: NA% Budget: • revenues: $38 million • expenditures: $34.4 million, including capital expenditures of $NA (1993 est.) Exports: $3.4 million (f.o.b., 1990) • commodities: copra, fresh and canned fruit, clothing • partners: NZ 80%, Japan Imports: $50 million (c.i.f., 1990) • commodities: foodstuffs, textiles, fuels, timber • partners: NZ 49%, Japan, Australia, US External debt: $NA Industrial production: growth rate NA%; accounts for 5% of GDP Electricity: • capacity: 14,000 kW • production: 21 million kWh • consumption per capita: 1,170 kWh (1990) Industries: fruit processing, tourism Agriculture: accounts for 12% of GDP, export crops—copra, citrus fruits, pineapples, tomatoes, bananas; subsistence crops—yams, taro Economic aid: • recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $128 million Currency: 1 New Zealand dollar (NZ$)=100 cents Exchange rates: New Zealand dollars (NZ$) per US$1—1.7771 (January 1994), 1.8495 (1993), 1.8584 (1992), 1.7265 (1991), 1.6750 (1990), 1.6708 (1989) Fiscal year: 1 April–31 March