Economy of The Cook Islands

The economy of the Cook Islands, as in many other South Pacific island nations, is hindered by the isolation of the country from foreign markets, lack of natural resources, periodic devastation from natural disasters, and inadequate infrastructure.

Agriculture provides the economic base with major exports made up of copra and citrus fruit. Manufacturing activities are limited to fruit-processing, clothing, and handicrafts.

Trade deficits are made up for by remittances from emigrants and by foreign aid, overwhelmingly from New Zealand. Efforts to exploit tourism potential, encourage offshore banking, and expand the mining and fishing industries have been partially successful in stimulating investment and growth.

Read more about Economy Of The Cook Islands:  Banking and Finance, Economic Statistics, Telecommunications

Famous quotes containing the words economy of, economy, cook and/or islands:

    Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.
    Jane Jacobs (b. 1916)

    The counting-room maxims liberally expounded are laws of the Universe. The merchant’s economy is a coarse symbol of the soul’s economy. It is, to spend for power, and not for pleasure.
    Ralph Waldo Emerson (1803–1882)

    The Indian remarked as before, “Must have hard wood to cook moose-meat,” as if that were a maxim, and proceeded to get it. My companion cooked some in California fashion, winding a long string of the meat round a stick and slowly turning it in his hand before the fire. It was very good. But the Indian, not approving of the mode, or because he was not allowed to cook it his own way, would not taste it.
    Henry David Thoreau (1817–1862)

    Consider the islands bearing the names of all the saints, bristling with forts like chestnut-burs, or Echinidæ, yet the police will not let a couple of Irishmen have a private sparring- match on one of them, as it is a government monopoly; all the great seaports are in a boxing attitude, and you must sail prudently between two tiers of stony knuckles before you come to feel the warmth of their breasts.
    Henry David Thoreau (1817–1862)