Economic Overview of the Cook Islands (2023)
In 2023, the Cook Islands ranked 207th globally in total exports and 204th in total imports. Despite its small size, the nation plays a niche role in international trade, particularly in the fisheries and marine industries.
Exports: A Strong Marine Industry
The Cook Islands' economy is heavily reliant on marine resources. The country’s top exports include non-fillet frozen fish ($10M), recreational boats ($9.9M), and fish fillets ($6.83M), highlighting its strong presence in the seafood sector.
Other significant exports include knit women's suits ($587K) and crustaceans ($508K).
The primary export destinations are Japan ($10M), Thailand ($4.59M), Greece ($4.37M), France ($3.4M), and China ($2.43M).
Imports: Dependence on Key Goods
The Cook Islands imports a wide range of goods to support its economy and tourism sector. The top imports include recreational boats ($58.7M), refined petroleum ($37.4M), cars ($4.24M), boat propellers ($3.33M), and hard liquor ($2.92M).
The largest suppliers are New Zealand ($93.7M), Italy ($56.1M), Fiji ($19.1M), China ($14M), and Australia ($6.91M), reflecting strong trade ties with neighboring countries.
Conclusion
The Cook Islands' economy is shaped by its reliance on marine exports and high-value imports, with a particular focus on fishing, boating, and tourism-related goods.
While it maintains strong trade connections with major economies, its dependence on imports highlights the challenges of a small island economy.
Source: https://oec.world/
