Countryguidebook 
Hainan, China
FIJI
COUNTRIES A-Z
Fiji Economy
Country Name: Republic of the Fiji Islands
Capital City: Suva (on Viti Levu)
Population: 918,675 (July 2007 est.)
Population Growth: 1.394% (2007 est.)
Currency: Fijian dollar (FJD)
Languages: English (official), Fijian (official), Hindustani
Area:
Inflation Rate: 3% (2005)
Unemployment Rate: 7.6% (1999)
Domain extension:
ECONOMIC DETAILS OF FIJI
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, remittances from Fijians working abroad, and a growing tourist industry - with 300,000 to 400,000 tourists annually - are the major sources of foreign exchange. Fiji's sugar has special access to European Union markets, but will be harmed by the EU's decision to cut sugar subsidies. Sugar processing makes up one-third of industrial activity but is not efficient. Fiji's tourism industry was damaged by the 2006 coup and is facing an uncertain recovery time. Long-term problems include low investment, uncertain land ownership rights, and the government's inability to manage its budget. Overseas remittances from Fijians working in Kuwait and Iraq have increased significantly.
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, remittances from Fijians working abroad, and a growing tourist industry - with 300,000 to 400,000 tourists annually - are the major sources of foreign exchange. Fiji's sugar has special access to European Union markets, but will be harmed by the EU's decision to cut sugar subsidies. Sugar processing makes up one-third of industrial activity but is not efficient. Fiji's tourism industry was damaged by the 2006 coup and is facing an uncertain recovery time. Long-term problems include low investment, uncertain land ownership rights, and the government's inability to manage its budget. Overseas remittances from Fijians working in Kuwait and Iraq have increased significantly.
GDP - purchasing power parity:
$5.594 billion (2006 est.)
GDP - real growth rate:
3.1% (2006 est.)
GDP - per capita:
$6,200 (2006 est.)
GDP - by sector (agriculture):
agriculture: 8.9%
GDP - by sector (industry):
industry: 13.5%
GDP - by sector (services):
services: 77.6% (2004 est.)
Export Partners:
US 16.8%, Australia 13.9%, UK 13.5%, Japan 5.3%, Samoa 4.7%, Tonga 4.1% (2006)
Import Partners:
Singapore 28.9%, Australia 23.4%, NZ 16.9%, China 4.7% (2006)
Export Commodities:
sugar, garments, gold, timber, fish, molasses, coconut oil
Import Commodities:
manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
Exports Volume:
$719.6 million f.o.b. (2005)
Imports Volume:
$1.462 billion c.i.f. (2005)
Labour Force:
137,000 (1999)
Unemployment Rate:
7.6% (1999)
Population below poverty line:
25.5% (FY90/91)
Inflation Rate:
3% (2005)
Investment (gross fixed):
Public Debt:
Agriculture Products:
sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
Industries:
tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries
Industrial Production Growth Rate:
NA%
Electricity - production:
817 million kWh (2004)
Electricity - consumption:
759.8 million kWh (2004)
Electricity - exports:
0 kWh (2004)
Electricity - imports:
0 kWh (2004)
Oil - production:
0 bbl/day (2004 est.)
Oil - consumption:
10,000 bbl/day (2004 est.)
Oil - exports:
NA bbl/day
Oil - imports:
NA bbl/day
Natural gas - production:
0 cu m (2004 est.)
Natural gas - consumption:
Natural gas - exports:
Natural gas - imports:
Current Account Balance:
-$465.8 million (2006 est.)
Currency Code:
Fijian dollar (FJD)