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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, 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. |
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GDP (purchasing power parity):
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$5.173 billion (2004 est.) |
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GDP - real growth rate:
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3.6% (2004 est.) |
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GDP - per capita:
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purchasing power parity - $5,900 (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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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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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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Inflation rate (consumer prices):
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1.6% (2002 est.) |
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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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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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750 million kWh (2002) |
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Electricity - production by source:
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fossil fuel: 18.5%
hydro: 81.5% nuclear: 0% other: 0% (2001) |
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Electricity - consumption:
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697.5 million kWh (2002) |
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Electricity - exports:
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0 kWh (2002) |
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Electricity - imports:
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0 kWh (2002) |
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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 |
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Oil - imports:
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NA |
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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 24%, Australia 19%, UK 12.6%, Samoa 6.5%, Japan 4.1% (2004) |
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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 25.9%, Singapore 23.1%, New Zealand 21.1% (2004) |
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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 (code):
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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 - 1.7331 (2004), 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000) |
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Fiscal year:
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calendar year |
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