National Accounts

A quarterly and 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 2022

Gross Domestic Product 

March Quarter 2022

• Current GDP for March Quarter 2022 totaled $128.9 million
•At constant 2016 prices, the March quarter of 2022 recorded a value of $106.3 million
• Significant growth was experienced in the tourism industry;
• With trade up by 37.7%, Accommodation up by 31.4%, Restaurants and Bars up by 28.4%, and Travel Agents/Tour Operators up by 20.2%

 Positive growth rates in all sectors at both Current and Constant prices due to the borders reopening in January 2022.

Graph 1 shows shows total quarterly GDP at both current and constant 2016 price

                       GDP Statistics Graph1 2201

Graph 2 shows the GDP percentage growth compared to the previous quarter

                            GDP Statistics Graph2 2201

 

Downloads:

pdfQuarterly National Accounts: March Quarter 2022

xlsxQuarterly National Accounts: March Quarter 2022 - Tables 


National Accounts - December Quarter 2021

Gross Domestic Product 

December Quarter 2021

• Current GDP for December Quarter 2021 totalled $125.1 million
• In real prices December quarter 2021 recorded a value of $92.1 million
• Primary Industries – percentage contribution of 3.0 percent
• Goods-producing industries – percentage contribution of 11.0 percent.
• Services industries – percentage contribution of 77.0 percent

 

Graph 1 shows total quarterly GDP at both current and constant 2016 prices

                       GDP Statistics Graph1 2104

Graph 2 shows the GDP at Market Prices Percent Contribution

                            GDO Statistics Graph2 2104

 

Downloads:

pdfQuarterly National Accounts: December Quarter 2021

xlsxQuarterly National Accounts: December Quarter 2021 - Tables 


National Accounts - September Quarter 2021

Gross Domestic Product 

September Quarter 2021

• Current GDP for September Quarter 2021 totalled $121.7 million
• In real prices September quarter 2021 recorded a value of $88.2 million
• Primary Industries – up by 8.0 percent
• Goods-producing industries – up by 8.3 percent.
• Services industries – up by 2.6 percent

 

Graph 1 shows total quarterly GDP at both current and constant 2016 prices

                       GDP Statistics Graph1 2103

Graph 2 shows the GDP percentage growth rate at market prices 

                            GDP Statistics Graph2 2103

 

Downloads:

pdfQuarterly National Accounts: September Quarter 2021

xlsxQuarterly National Accounts: September Quarter 2021 - Tables 


National Accounts - June Quarter 2021

Gross Domestic Product 

June Quarter 2021

• Current GDP for June Quarter 2021 totalled $116.0 million
• In real prices June quarter 2021 recorded a value of $94.1million
• Primary Industries – up by 1.1 percent
• Goods-producing industries – up by 9.7 percent.
• Services industries – up by 11.8 percent

 

Graph 1 shows total quarterly GDP at both current and constant 2016 prices

                       GDP Statistics Graph1 2102 

Graph 2 shows the percentage contribution to total GDP at constant prices.

                            GDP Statistics Graph2 2102

 

Downloads:

pdfQuarterly National Accounts: June Quarter 2021

xlsxQuarterly National Accounts: June Quarter 2021 - Tables 


National Accounts - March Quarter 2021

Gross Domestic Product 

March Quarter 2021

• Current GDP for December Quarter 2020 totalled $107.6 million
• In real prices December quarter 2020 recorded a value of $81.6 million
• Primary Industries – down by 4.3 percent
• Goods-producing industries – up by 1.7 percent.
• Services industries – up by 5.4 percent

GDP Statistics Graph1 2101

Downloads:

pdfQuarterly National Accounts: March Quarter 2021

xlsxQuarterly National Accounts: March Quarter 2021 - Tables


National Accounts - Seasonal Adjustment

Cook Islands Statistical Office publishes first time seasonally and calendar adjusted Quarterly National Accounts data

 

Time series data adjusted for seasonal and calendar variations allows for a comparison of periods with their direct preceding ones. That way, changes in the economic development can be detected earlier and necessary economic policy reactions implemented timelier.

Starting from August 2021 onwards, the Cook Islands Statics Office (CISO) will not only publish quarterly GDP series but provide these data also seasonally and calendar adjusted. Time series plagued with seasonal variations – like tourism data - can only be compared meaningful with their respective periods one year before. However, comparing data with periods of the past year can mask important information concerning underlying dynamics.

  Figure 1
Capture1Figure 1 demonstrates that a comparison of the first quarter with the corresponding quarter of the year before shows a growth rate of the economy of +4.2%. If, however, seasonally adjusted data allows for a comparison with the preceding quarter, a downward moving trend which started in the 4th quarter of the previous year can be observed.

Apart from seasonal variations, changes in the calendar over the quarters can influence the time series. This is valid for all holidays which can shift between quarters like eastern. Furthermore, the leap year effect which increases every fourth year the number of days in February is part of the calendar effect like the composition of a month by a varying number of weekends or workdays.

The CISO adjusts these time series for seasonal and calendar variations using econometric methods. Specifically, the internationally recommended TRAMO-SEATS approach is applied as it is implemented in the software package JDemetra+. Due to the nature of this econometric estimation approach, it is not guaranteed that the sum of the quarters adds up precisely to annual totals, as it is the case for unadjusted quarters. Likewise, the sum of adjusted components does not equal exactly higher aggregates. The CISO adjusts for the component mismatch only, by distributing differences between the sum of components and its aggregate proportionally. It should be noted that it is not possible to derive the growth rate of a total year by the quarter-on-quarter growth rates of its four quarters. Figure 2 demonstrates that although every four quarters of a year show no growth when compared to their preceding quarters, their sum can show, nevertheless, a positive growth when compared to the sum of the previous year.

Figure 2  Capture2

 

In order to increase the interpretability of the adjusted time series, the CISO additionally produces a flatter version of the seasonally and calendar adjusted time series which is called Trend-Cycle component. These series evolve smoother as they are cleared for small irregular variations around their trend which can be caused by special short living effects from weather conditions or other events. They are not meant to replace the seasonally and calendar adjusted ones, but to be used in combination in order to make interpretation easier. As the adjustment for seasonal and calendar variations at the very end of the time series requires a forecast of future values, observations for the most recent periods are more prone to revisions than periods in the past. This is valid especially for the trend-cycle component which relies heavily on such forecasts.

The CISO will publish the new data set on its webpage using only a subset for its regular press releases.

Downloads:

pdfSeasonal Adustment Write-Up-2020

xlsxSeasonal Publication Table - 2020


National Accounts - December Quarter 2020

Key Facts:

In the December 2020 quarter compared to the September 2020 quarter:

Current GDP for December Quarter 2020 totalled $106.8 million compared to $112.6 million in September 2020

In real prices December quarter 2020 recorded a value of $85.4 million compared to $95.0 million in September 2020.

Cook Islands economy (at nominal prices) decreased by 5.2 percent when compared to September quarter 2020.

Service industries – up by 1.3 percent

Primary industries – up by 1.2 percent

Goods-producing industries showed the only decrease - down 25.2 percent due to the growth in construction activities during this period.

 

Downloads:

pdfQuarterly National Accounts: December Quarter 2020

xlsxQuarterly National Accounts: Devember Quarter 2020- Tables


National Accounts - September Quarter 2020

Key Facts:

In the September 2020 quarter compared to June 2020 quarter:

Current GDP for September Quarter 2020 totalled $112.6 million compared to $110.9 million in June 2020.

In real prices September quarter 2020 recorded a value of $95.0 millioncompared to $93.5 million in June 2020.

Cook Islands economy (at nominal prices) increased by 1.6 percent when compared to June quarter 2020.

Service industries – down 0.8 percent

Primary industries – down 5.2 percent

Goods-producing industries showed the only positive growth - up 21.4 percent due to the growth in construction activities during this period.

 

GDP Statistics Graph1 2003

Downloads:

xlsxGDP_Statistics_Tables_202003.xlsx 82 KB


National Accounts - June Quarter 2020

Key Facts:

In the June 2020 quarter compared to March 2020 quarter:

  • Current GDP for June Quarter 2020 totalled $110.9 million compared to $139.9 million in March 2020
  • In real prices June quarter 2020 recorded a value of $93.5 millioncompared to $124.5 million in March 2020.
  • Cook Islands economy (at nominal prices) down 20.8 percent when compared to March quarter 2020.
  • Service industries – down 25.1 percent
  • Primary industries – down 5.3 percent
  • Goods-producing industries showed the only negative growth - up 5.4 percent due to the growth in construction activities during this period.

GDP Statistics Graph2 202002

 

Downloads:

pdfGDP_Statistics_Report_202002.pdf 882 KB

xlsxGDP_Statistics_Tables_202002.xlsx67 KB


National Accounts - March Quarter 2020

Key Facts:

In the March 2020 quarter compared to December 2019 quarter:

  • Cook Islands economy – down 9.5 percent
  • service industries – down 11.7 percent but still remain the highest contributor of 83.7 percent
  • primary industries – down 2.1 percent
  • goods-producing industries – down 4.2 percent
  • annual GDP growth in the year to March – up 12.9 percent.
  • CurrentGDP for March Quarter 2020 totalled $138.9 million compared to $153.4 million in December 2019
  • In real prices March quarter 2020 recorded a value of $119.9 millioncompared to $138.0 million in December 2019.

March Quarter 2020

Downloads:

xlsxGDP_Statistics_Tables_20200_revised.xlsx90.19 KB


National Accounts - December Quarter 2019

Key facts

Gross Domestic Product: December Quarter 2019

  • Total GDP for December Quarter 2019 at current prices was $153.4, which decreased by 2.4 percent, when compared to the previous quarter.
  • At constant 2016 prices, December quarter 2019 recorded a value of $138.0million.
  • The Services Industry contributed the largest to total GDP with a value of $118.7 million dollars (at current prices).

GDP Statistics Graph1 201904

GDP Statistics Graph2 201904

Downloads:

Annual GDP Latest release

Key facts

In the 2019 calendar year:
 

NOTE:

Revisions have been made to all four quarters of the Fishing and Pearls industry, Real Estate industry and Public Administration industry for 2018, at current prices. Further revisions have also been made to industries at constant 2016 prices, for year 2018. All four quarters of Public Administrations, and last quarter of both Accommodation Services and FISIM.

These revisions have been captured in the annual 2019 GDP publication.

  • Annual GDP at current prices was $575.4 million, resulting in an increase of 9.8 percent compared to 2018.
  • Total annual GDP at constant prices was $539.7
  • The services industry contributed the largest share to total GDP with a contribution of 78.7 percent.

Annual GDP Graph1

Annual GDP Graph2

Downloads:

 pdfAnnual National Accounts: 2019 Report

 xlsxAnnual National Accounts: 2019 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.


National Accounts - September Quarter 2019

Note:

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: September Quarter 2019

  • GDP for September Quarter 2019 at current prices was $157.2 million. This resulted in an increase of 7.5 percent, when compared to the previous quarter.
  • At constant 2016 prices, September quarter 2019 recorded a value of $143.9 million.
  • The Services Industry contributed the largest to total GDP with a value of $125.4 million dollars (at current prices).

GDP Statistics Graph1 201903

GDP Statistics Graph2 201903 

Downloads:

Annual GDP Latest release

Key facts

In the 2018 calendar year:

NOTE:

Revisions have been made to all four quarters of the Fishing and Pearls industry, Real Estate industry and Public Administration industry for 2018, at current prices. Further revisions have also been made to industries at constant 2016 prices, for year 2018. All four quarters of Public Administrations, and last quarter of both Accommodation Services and FISIM.

These revisions have been captured in the annual 2018 GDP publication.

 

  • Annual GDP at current prices was $524.2 million. An increase of 7.8 percent when compared to 2017.
  • At constant 2016 prices, annual GDP for the year 2018 was 515.1
  • The Services Industry contributed the largest percentage share of 73 percent to total GDP (at current prices).

GDP Statistics Graph1 2018

GDP Statistics Graph2 2018

 

Downloads:

 pdfAnnual National Accounts: 2018 Report

 xlsxAnnual National Accounts: 2018 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.


National Accounts - June Quarter 2019

Note:

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: June Quarter 2019

  • GDP for June Quarter 2019 at current prices was $146.2 million. This resulted in an increase of 23.3 percent, when compared to the previous quarter.
  • At constant 2016 prices, June quarter 2019 recorded a value of $142.3 million.
  • The Services Industry contributed the largest to total GDP with a value of $113.7 million dollars (at current prices).

GDP Statistics Graph1 201902

GDP Statistics Graph2 201902

 

Downloads:

Annual GDP Latest release

Key facts

In the 2018 calendar year:

NOTE:

Revisions have been made to all four quarters of the Fishing and Pearls industry, Real Estate industry and Public Administration industry for 2018, at current prices. Further revisions have also been made to industries at constant 2016 prices, for year 2018. All four quarters of Public Administrations, and last quarter of both Accommodation Services and FISIM.

These revisions have been captured in the annual 2018 GDP publication.

 

  • Annual GDP at current prices was $524.2 million. An increase of 7.8 percent when compared to 2017.
  • At constant 2016 prices, annual GDP for the year 2018 was 515.1
  • The Services Industry contributed the largest percentage share of 73 percent to total GDP (at current prices).

GDP Statistics Graph1 2018

GDP Statistics Graph2 2018

 

Downloads:

 pdfAnnual National Accounts: 2018 Report

 xlsxAnnual National Accounts: 2018 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.


National Accounts - March Quarter 2019

Note:

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: March Quarter 2019

  • GDP for March Quarter 2019 at current prices was $118.6 million. This resulted in a 15.1 percent decrease when compared to December quarter 2018.
  • At constant 2016 prices, March quarter 2019 recorded a value of $115.5 million.
  • The Services Industry contributed the largest to total GDP with a value of $95.1 million dollars (at current prices).

GDP Statistics Graph1 201901

 

Downloads:

Annual GDP Latest release

Key facts

In the 2018 calendar year:

NOTE:

Revisions have been made to all four quarters of the Fishing and Pearls industry, Real Estate industry and Public Administration industry for 2018, at current prices. Further revisions have also been made to industries at constant 2016 prices, for year 2018. All four quarters of Public Administrations, and last quarter of both Accommodation Services and FISIM.

These revisions have been captured in the annual 2018 GDP publication.

 

  • Annual GDP at current prices was $524.2 million. An increase of 7.8 percent when compared to 2017.
  • At constant 2016 prices, annual GDP for the year 2018 was 515.1
  • The Services Industry contributed the largest percentage share of 73 percent to total GDP (at current prices).

GDP Statistics Graph1 2018

GDP Statistics Graph2 2018

 

Downloads:

 pdfAnnual National Accounts: 2018 Report

 xlsxAnnual National Accounts: 2018 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.


National Accounts - December Quarter 2018

Note:

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key Facts

Quarterly GDP Highlights – December Quarter 2018:

  • Gross Domestic Product (GDP) for December Quarter 2018 at current prices was $141.7 million, decreasing by 3.1 percent when compared to September quarter 2018.
  • At constant 2016 prices, December quarter 2018 recorded a value of $142.2 million. This is an increase of 6.0 percent in economic activity when compared to the same quarter of the previous year.
  • Large percentage growth (at constant 2016 prices) was experienced in the Information and Communication industry, up by 52.3 percent.
  • Largest negative drop can be seen in the Fishing and Pearls industry, down by 43.1 percent.

GDP Statistics Graph1 201804

Downloads:

pdfNational_Accounts_Statistics_201804.pdf530.97 KB

xlsxNational_Accounts_Statistiscs_Tables_201804.xlsx88.55 KB


National Accounts - September Quarter 2018

Note:

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: September Quarter 2018
  • GDP for September quarter 2018 at current prices was $146.2 million, that is an increase of 12.8 percent from the GDP recorded during the June quarter of 2018.
  • At constant 2016 prices, September quarter 2018 recorded a value of $135.8 million, an increase of $10.4 million dollars when compared to the June quarter 2018.
  • The Services Industry contributed the largest to total GDP with a value of $114.2 million dollars (at current prices).

GDP Statistics Graph1 201803

 

Downloads:

Annual GDP Latest release

Key facts

In the 2017 calendar year:
  • Total gross domestic product for the year 2017, at current prices, was $486.4 million.

  • At constant 2016 prices, total GDP for 2017 recorded a value of $487.5 million.

  • At current prices, the agriculture and fishing sector contributed a share of 2.9 percent to total GDP while the industry sector contributed 7.7 percent. The remaining, which was the largest, was contributed by the services sector

  • With an estimated total population of 17,000 in mid-2017, GDP per capita was $28,613.

 

GDP Statistics Graph1 2017

GDP Statistics Graph2 2017

 

Downloads:

 xlsxAnnual National Accounts 2017 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.


National Accounts - June Quarter 2018

Note

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: June Quarter 2018

  • GDP for June Quarter 2018 at current prices was $129.6 million. This resulted in a 5.5 percent decrease when compared to March quarter 2018.
  • At constant 2016 prices, June quarter 2018 recorded a value of $125.4 million, resulting in a 6.1 percent increase when compared to the same quarter of the previous year.
  • The Services Industry contributed the largest to total GDP with a value of $100.7 million dollars (at current prices).

SNA 2 2018

 

Graph 2 below shows the percentage growth rate, at constant prices compared to the previous quarter. Seasonal fluctuations show that economic activity usually starts to increase during this period which is primarily due to the majority of the industries showing a positive growth at this time of the year. The largest of these can be seen in the accommodation services industry, up by 48.1 per cent, mainly due to the increase in the number of visitor arrivals into the country.

 SNA 2 2018 2

Offsetting these growths were the large drop in Arts, Recreation and Other services, (down 42.6 per cent) followed by Information and Communications (down 14.8 per cent), Professional, Administrative (down 13.6 per cent) and other minor negative growths in Electricity, Water, Waste, Transportation, Real Estate and Travel Agents and Tour Operators.

Downloads:

Annual GDP Latest release

Key facts

In the 2017 calendar year:

  • Total gross domestic product for the year 2017, at current prices, was $486.4 million.

  • At constant 2016 prices, total GDP for 2017 recorded a value of $487.5 million.

  • At current prices, the agriculture and fishing sector contributed a share of 2.9 per cent to total GDP while the industry sector contributed 7.7 percent. The remaining, which was the largest, was contributed by the services sector

  • With an estimated total population of 17,000 in mid-2017, GDP per capita was $28,613.

 

GDP Statistics Graph1 2017

GDP Statistics Graph2 2017

 

Downloads:

 xlsxAnnual National Accounts 2017 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.


National Accounts - December Quarter 2017

Note

This is the first release of Cook Islands GDP using 2016 as the new base year for constant prices and the new benchmark year for current prices. Prior to this, the base year for constant price GDP estimates was 2006. Due to the rebase process, revisions have been made therefore, previous publications may differ to what is provided in this release.

Key facts

Gross Domestic Product: December quarter 2017

  • GDP for December Quarter 2017 at current prices was $127.8 million. This resulted in a 6.5 percent decrease when compared to September quarter 2017.

  • At constant 2016 prices, December quarter 2017 recorded a value of $134.1 million, resulting in a 13.7 percent increase when compared to the same quarter of the previous year.

  • The Services Industry contributed the largest to total GDP with a value of $101.7 million.

GDP Statistics Graph1 201704

GDP Statistics Graph2 201704

Downloads:

Annual GDP Latest release

Key facts

In the 2017 calendar year:

  • Total gross domestic product for the year 2017, at current prices, was $486.4 million.

  • At constant 2016 prices, total GDP for 2017 recorded a value of $487.5 million.

  • At current prices, the agriculture and fishing sector contributed a share of 2.9 per cent to total GDP while the industry sector contributed 7.7 percent. The remaining, which was the largest, was contributed by the services sector

  • With an estimated total population of 17,000 in mid-2017, GDP per capita was $28,613.

 

GDP Statistics Graph1 2017

GDP Statistics Graph2 2017

 

Downloads:

 xlsxAnnual National Accounts 2017 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.

 


National Accounts - December quarter 2016

Release - June 1st, 2017

Key facts

Gross Domestic Product: December quarter 2016

 

  • GDP for December Quarter 2016 at current market prices was $107.5 million recording a growth rate of 2.7 per cent when compared to December quarter 2015.
  • At constant 2006 prices, December quarter 2016 recorded a value of $82.7 million. With a growth rate of 3.2 per cent in economic activity when compared to December quarter 2015.
  • Restaurant and Accommodation contributed the most to GDP with a 22.7% share of total GDP.
  • Fishing and pearls showed the largest decrease (at constant prices) of 27.1% when compared to December 2015.
  • The tertiary sector contributed the most to GDP with a share of 93.1% this is mainly due to the contribution of the two largest industries (Wholesale/Retail and Restaurants and Accommodation).

 

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

GDP Statistics Graph1 201604

GDP Statistics Graph2 201604

GDP Statistics Graph3 201604

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.

 


National Accounts - September quarter 2016

Release - May 8th, 2017

Key facts

Gross Domestic Product: September quarter 2016

  • GDP for September Quarter 2016 at current market prices was $123.2 million recording a growth rate of 11.9 per cent when compared to June quarter 2016. When compared to September quarter 2015, value added had increased by 8.5 per cent.
  • At constant 2006 prices, September quarter 2016 recorded a value of $95.2 million. With a growth rate of 12.0 per cent in economic activity when compared to September quarter 2015.
  • Restaurant and Accommodation up 24.3% when compared to June qtr 2016.
  • Construction showed the largest decrease of 50.7% when compared to June qtr 2016.
  • The tertiary sector contributed the most to GDP with a share of 93.1%

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

GDP Statistics Graph1 201603

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Annual GDP Latest release

Key facts

In the 2012 calendar year:

  • Economic activity increased in real terms by 4.4 percent.
  • Construction (up 29.7 per cent), Fishing and Pearl (up 9.8 per cent), and Restaurants and Accommodation (up 5.9 per cent) were the main drivers of growth.
  • Mining and Manufacturing (down 7.9 per cent) had the largest decline.
  • GDP per capita was $14,939 (up 1.2 percent). 

2013 GDP at current and constant prices

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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.