National Accounts

An annual estimation of  gross domestic product (GDP) by sector and industries including growth rates of each economic sector and their contribution to GDP.

National Accounts

National Accounts - March quarter 2017

Release - 27th September, 2017

Key facts

Gross Domestic Product: March quarter 2017

 

Gross Domestic Product (GDP) for March Quarter 2017 at current market prices was $100.6 million recording a growth rate of 4.5 per cent when compared to March quarter 2016. When compared to December quarter 2016, economic activity had declined by 4.8 per cent.

At constant 2006 prices, GDP for March quarter 2017 was $76.9 million recording a growth rate of 4.0 per cent over March quarter 2016. When compared to December quarter 2016, value added had decreased by 9.2 per cent.

Wholesale and Retail Trade remained the highest contributor to nominal GDP with a total share of 23.1 per cent, closely followed by Transport and Communication (16.9).

Restaurants and Accommodation, which is usually part of the top two highest contributor to total share of GDP, dropped to 16.4 per cent mainly due to the decrease in visitors arrival during this period.

 

Graph below shows the quarterly percentage change over previous quarter of GDP at current and constant prices

GDP Statistics Graph1 201701

GDP Statistics Graph2 201702

GDP Statistiscs Graph3 201703

Downloads:

Annual GDP Latest release

Key facts

In the 2016 calendar year:

  • Total nominal GDP for the 2016 calendar year was $413.7 million, this recorded a 1.0 percent growth rate from the previous year.

  • GDP per capita (at current prices) for 2016 decreased by 3.1 percent when compared to 2015 calendar year. The decrease of GDP per capita was mainly due to the increase in population.

  • At constant prices, 2016 total GDP increased by 3.5 percent when compared to 2015 calendar year.

  • At real terms, GDP per capita decreased by 0.8 percent when compared to the previous calendar year.

  • According to graph 3, GDP per capita (at current and constant prices) peaked in 2011 and has been growing steadily since then. Reasons for sudden increase is due to the rapid decrease in population numbers in 2011, and the continuous decrease of population has influenced the increase of GDP per capita since.

  • All sectors produced a positive percentage change/growth over the previous year. The percentage growth in this period were minor except for Financial Intermediation Services Indirectly Measured (FISIM) up by 40.4 percent.

  • Corporate enterprises dominated all the sectors contributing 70.7 percent to total GDP for the 2016 calendar year. This is mainly due to the contribution from the two largest industries, Wholesale/Retail and Restaurants and Accommodation.

GDP Statistics Graph1 2016

GDP Statistics Graph2 2016

GDP Statistics Graph3 2016

 

Downloads:

 xlsxAnnual National Accounts 2016 Tables

 

More Information about National Accounts

The Cook Islands National Accounts are largely based on the United Nations Systems of National Accounts 1993 (SNA93) framework. Data on gross domestic product (GDP) at current and constant prices is compiled using the production approach (one of the three GDP approaches). 2006 prices are used for deriving GDP at real or constant prices and which has been estimated for the years 2000-2011.

GDP data is published on a quartelry and annual basis (both at current and at real prices) and includes:

  • Quarterly and annual GDP
  • GDP per capita
  • Quarterly and annual growth rate
  • GDP by institutional sectors
  • GDP by industry
  • GDP by primary/secondary/tertiary sector

Data on GNI is not available.

 

  • Gross Domestic Product (GDP) for March Quarter 2017 at current market prices was $100.6 million recording a growth rate of 4.5 per cent when compared to March quarter 2016.

  • When compared to December quarter 2016, economic activity had declined by 4.8 per cent.

  • At constant 2006 prices, GDP for March quarter 2017 was $76.9 million recording a growth rate of 4.0 per cent over March quarter 2016. When compared to December quarter 2016, value added had decreased by 9.2 per cent.
  • Wholesale and Retail Trade remained the highest contributor to nominal GDP with a total share of 23.1 per cent, closely followed by Transport and Communication (16.9).

  • Restaurants and Accommodation, which is usually part of the top two highest contributor to total share of GDP, dropped to 16.4 per cent mainly due to the decrease in visitors arrival during this period.