Economy Of Fiji
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Economy overview
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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. 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.
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GDP
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purchasing power parity - $5.012 billion (2004 est.)
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GDP - real growth rate
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4.8% (2004 est.)
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GDP - per capita
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purchasing power parity - $5,800 (2004 est.)
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GDP - composition by sector
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agriculture: 16.6%
industry: 22.4%
services: 61% (2001 est.)
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Investment gross fixed
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Population below poverty line
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25.5% (1990-91)
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Household income or consumption by percentage share
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lowest 10%: NA
highest 10%: NA
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Distribution of family income - Gini index
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Inflation rate consumer prices
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1.6% (2002 est.)
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Labor force
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137,000 (1999)
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Labor force by occupation
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agriculture, including subsistence agriculture 70% (2001 est.)
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Unemployment rate
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7.6% (1999)
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Budget
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revenues: $427.9 million
expenditures: $531.4 million, including capital expenditures of NA (2000 est.)
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Public debt
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Agriculture products
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sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
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Industries
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tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries
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Industrial production growth rate
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NA
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Electricity production
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520.1 million kWh (2001)
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Electricity production by source
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fossil fuel: 18.5%
hydro: 81.5%
other: 0% (2001)
nuclear: 0%
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Electricity consumption
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483.7 million kWh (2001)
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Electricity exports
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0 kWh (2001)
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Electricity imports
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0 kWh (2001)
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Oil production
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0 bbl/day (2001 est.)
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Oil consumption
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5,700 bbl/day (2001 est.)
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Oil exports
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NA (2001)
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Oil imports
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NA (2001)
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Oil proved reserves
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Natural gas production
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Natural gas consumption
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Natural gas exports
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Natural gas imports
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Natural gas proved reserves
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Current account balance
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Exports
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$609 million f.o.b. (2002)
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Exports commodities
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sugar, garments, gold, timber, fish, molasses, coconut oil
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Exports partners
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US 23.7%, Australia 18.4%, UK 13.6%, Samoa 6%, Japan 4.8% (2003)
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Imports
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$835 million c.i.f. (2002)
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Imports commodities
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manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
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Imports partners
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Australia 35.1%, Singapore 19.2%, New Zealand 17.2%, Japan 4.9% (2003)
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Reserves of foreign exchange gold
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Debt external
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$188.1 million (2001 est.)
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Economic aid recipient
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$40.3 million (1995)
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Currency
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Fijian dollar (FJD)
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Currency code
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FJD
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Exchange rates
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Fijian dollars per US dollar - 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000), 1.9696 (1999)
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Fiscal year
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calendar year
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Applied Language Solutions offer English Translation , English to Fijian Translation , English to Hindustani Translation .
This information was reproduced in part from the CIA World Fact book.
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