AEIR 2017

Estimated economic growth in the Cook Islands in FY2018 was in line with the April forecast in ADO 2018, with a 4.6% increase in visitor arrivals an important contributor. A similar increase in visitor arrivals is expected in FY2019, for which the growth projection is retained. However, historical national accounts data have been revised downward with the recent exclusion of fish offloaded by foreign vessels in the Cook Islands but caught in international waters.

Inflation is estimated to have met the forecast for FY2018, edging into positive territory for the first time since FY2015 despite continued price declines for housing and household operations and for apparel. The forecast for slightly higher inflation in FY2019 is retained with increased food and transport costs.

Source: Asian Development Outlook 2018 Update, ADB.
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