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 - 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.