Fiji Economy: from the All Country Info reference guide to country facts

Fiji Economy

Fiji Economy: A summary of information about Fiji Economy, from government research data as well as independent research and other sources.

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Fiji: 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 are the major sources of foreign
exchange. Sugar processing makes up one-third of industrial activity.
Roughly 300,000 tourists visit each year, including thousands of
Americans following the start of regularly scheduled non-stop air
service from Los Angeles. Fiji's growth slowed in 1997 because the
sugar industry suffered from low world prices and rent disputes
between farmers and landowners. Drought in 1998 further damaged the
sugar industry, but its recovery in 1999 contributed to robust GDP
growth. Long-term problems include low investment and uncertain
property rights.
GDP
purchasing power parity - $5.9 billion (1999 est.)
GDP - real growth rate
7.8% (1999 est.)
GDP - per capita
purchasing power parity - $7,300 (1999 est.)
GDP - composition by sector
agriculture: 16.5%
industry: 25.5%
services: 58% (1998 est.)
Population below poverty line
NA%
Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
0% (1999 est.)
Labor force
235,000
Labor force - by occupation
subsistence agriculture 67%, wage earners
18%, salary earners 15% (1987)
Unemployment rate
6% (1997 est.)
Budget
revenues: $540.65 million
expenditures: $742.65 million, including capital expenditures of $NA
(1997 est.)
Industries
tourism, sugar, clothing, copra, gold, silver, lumber,
small cottage industries
Industrial production growth rate
2.9% (1995)
Electricity - production
550 million kWh (1998)
Electricity - production by source
fossil fuel: 20%
hydro: 80%
nuclear: 0%
other: 0% (1998)
Electricity - consumption
512 million kWh (1998)
Electricity - exports
0 kWh (1998)
Electricity - imports
0 kWh (1998)
Agriculture - products
sugarcane, coconuts, cassava (tapioca), rice,
sweet potatoes, bananas; cattle, pigs, horses, goats; fish
Exports
$393 million (f.o.b., 1998)
Exports - commodities
sugar 32%, clothing, gold, processed fish,
lumber
Exports - partners
Australia 34%, UK 18%, other Pacific island
countries 11%, US 11%, NZ 5%, Japan 5% (1997)
Imports
$612 million (f.o.b., 1998)
Imports - commodities
machinery and transport equipment, petroleum
products, food, chemicals
Imports - partners
Australia 45%, NZ 15%, Japan 7%, US 5%, Singapore
4% (1997)
Debt - external
$213 million (1997)
Economic aid - recipient
$40.3 million (1995)
Currency
1 Fijian dollar (F$) = 100 cents
Exchange rates
Fijian dollars (F$) per US$1 - 1.9654 (January 2000),
1.9696 (1999), 1.9868 (1998), 1.4437 (1997), 1.4033 (1996), 1.4063
(1995)
Fiscal year
calendar year
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