Fiji's Economy | Fijian Economy

Economy - overview: Fiji, endowed with forest, mineral, and fish resources, is one of the most developed of the Pacific island economies, though still with a large subsistence sector. Sugar exports and a growing tourist industry - with 300,000 to 400,000 tourists annually - are the major sources of foreign exchange. Sugar processing makes up one-third of industrial activity, but is inefficient. Long-term problems include low investment, uncertain land ownership rights, and the government's ability to manage its budget. Yet short-run economic prospects are good, provided tensions do not again erupt between indigenous Fijians and Indo-Fijians. Overseas remittances from Fijians working in Kuwait and Iraq have increased significantly.

GDP: 2.2% (FY02)

GDP - real growth rate: 3.6% (2004 est.)

GDP - per capita: purchasing power parity - $5,900 (2004 est.)

GDP - composition by sector: agriculture: 16.6% industry: 22.4% services: 61% (2001 est.)

Population below poverty line: 25.5% (1990-91)

Household income or consumption by percentage share: lowest 10%: NA highest 10%: NA

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 137,000 (1999)

Labor force - by occupation: agriculture, including subsistence agriculture 70% (2001 est.)

Unemployment rate: 7.6% (1999)

Budget: revenues: $427.9 million expenditures: $531.4 million, including capital expenditures of NA (2000 est.)

Industries: tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries

Industrial production growth rate: NA

Electricity - production: 750 million kWh (2002)

Electricity - production by source:

Electricity - consumption: 697.5 million kWh (2002)

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production: 0 bbl/day (2001 est.)

Oil - consumption: 5,700 bbl/day (2001 est.)

Oil - exports: NA

Oil - imports: NA

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish

Exports: $609 million f.o.b. (2002)

Exports - commodities: sugar, garments, gold, timber, fish, molasses, coconut oil

Exports - partners: US 24%, Australia 19%, UK 12.6%, Samoa 6.5%, Japan 4.1% (2004)

Imports: $835 million c.i.f. (2002)

Imports - commodities: manufactured goods, machinery and transport equipment, petroleum products, food, chemicals

Imports - partners: Australia 25.9%, Singapore 23.1%, New Zealand 21.1% (2004)

Debt - external: $188.1 million (2001 est.)

Economic aid - recipient: $40.3 million (1995)

Currency:

Currency code:

Exchange rates: Fijian dollars per US dollar - 1.7331 (2004), 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000)

Fiscal year: calendar year



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