Cook Islands banking Information
Like many other South Pacific island nations, the Cook Islands' economic development is hindered by the isolation of the country from foreign markets, lack of natural resources, periodic devastation from natural disasters, and inadequate infrastructure. Agriculture provides the economic base with major exports made up of copra and citrus fruit. Manufacturing activities are limited to fruit-processing, clothing, and handicrafts. Trade deficits are made up for by remittances from emigrants and by foreign aid, overwhelmingly from New Zealand. Efforts to exploit tourism potential, encourage offshore banking, and expand the mining and fishing industries have been partially successful in stimulating investment and growth.
GDP
Purchasing power parity - $183.2 million (2005 est.)
GDP - real growth rate
0.1% (2005 estimate)
GDP - per capita
$9 100 (2005 estimate)
GDP - composition by sector
Agriculture: 15.1%
Industry: 9.6%
Services: 75.3% (2000)
Population below poverty line
NA%
Household income or consumption by percentage share
Lowest 10%: NA%
Highest 10%: NA%
Inflation rate (consumer prices)
2.1% (2005 est.)
Labor force
6,820 (2001)
Labor force - by occupation
Agriculture 29%, industry 15%, services 56% (1995)
Unemployment rate
13.1% (2005)
Budget
Revenues: $70.95 million
Expenditures: $69.05 million; including capital expenditures of $5.744 million (FY00/01 est.)
Industries
Fruit processing, tourism, fishing, clothing, handicrafts
Industrial production growth rate
1% (2002)
Electricity - production
28 GW·h (2003)
Electricity - production by source
Fossil fuel: 100%
Hydro: 0%
Nuclear: 0%
Other: 0% (2001)
Electricity - consumption
34.46 GW·h (2005 est)
Electricity - exports
0 kW·h (2003)
Electricity - imports
0 kW·h (2003)
Oil consumption
400 bbl/day (2003)
Agriculture - products
Copra, citrus, pineapples, tomatoes, beans, pawpaws, bananas, yams, taro, coffee, pigs, poultry
Exports
$5.222 million (2005)
Exports - commodities
Copra, papayas, fresh and canned citrus fruit, coffee; fish; pearls and pearl shells; clothing
Exports - partners
Australia 34%, Japan 27%, New Zealand 25%, US 8% (2004)
Imports
$81.04 million (2005)
Imports - commodities
Foodstuffs, textiles, fuels, timber, capital goods
Imports - partners
New Zealand 61%, Fiji 19%, US 9%, Australia 6%, Japan 2% (2004)
Debt - external
$141 million (1996 est.)
Economic aid - recipient
$13.1 million (1995); note - New Zealand furnishes the greater part
Currency
1 New Zealand dollar (NZ$) = 100 cents
Exchange rates
New Zealand dollars (NZ$) per US$1 - 1.4203 (2005), 1.9451 (January 2000), 1.8886 (1999), 1.8632 (1998), 1.5083 (1997), 1.4543 (1996), 1.5235 (1995)
Fiscal year
1 April–31 March
Source - wikipedia.com
*If you have assets worth $300,000 USD or more and would like it safeguarded in an Cook Islands Bank Account, click here for a consultation request..
ANZ Banking Group Cook Islands
Offshore banking services include, Investment Call Accounts,
Offshore International Services, Foreign Currency Interest Bearing Term Deposits, International Transactions and Treasury Services
Bermuda Trust Cook Islands
Bermuda Trust (Cook Islands) Limited is a registeredﾝ trust company under the Trustee Companies Act 1981-82 and offers a wide range of custodial, trust, asset management and company administration services to institutional investors, corporations and private clients and their families.
Cook Islands Trust and Banking Corporation
Cook Islands Trust and Banking Corporation - experts in asset protection trusts, international trusts, legal, financial, banking and insurance services, formation of international companies, foreign companies, partnerships, LLCs, offshore banks, offshore insurance companies.
The Cook Islands is a full tax haven. Absolute secrecy and privilege is guaranteed.
GLOBAL NETWORK TRUST ( COOK ISLANDS ) LTD.
The TrustNet Group is a privately owned trustee and corporate services group with offices in the British Virgin Islands, the Cook Islands, Hong Kong, Samoa and Singapore.
SOUTHPAC TRUST LTD
Southpac’s Capital Security Bank (CSB) is not a retail bank, however we provide secure banking services to Southpac Group clients. Personal, trust and corporate accounts are available. Term deposit rates are competitive. Interest is paid quarterly, and is exempt from all Cook Islands taxation. Through CSB, Southpac clients have access to banking institutions all over the world including Switzerland and the UK.
The Wall Street Banking Corporation Limited
The Wall Street Banking Corporation Limited , WSBC, headquartered in Cook Islands commenced operations as an off-shore banking entity in the year 1992.With its world class and personalized services, the institution today boasts of clientele spanning the entire globe and an asset base of $ 120 million and a capital of $ 15 million.
Offer clients full web banking, offshore, personal and corporate banking, trade finance, foreign exchange, risk management & advisory services, investment banking, margin trading and commodities clearing