Fiji



Flags of All Countries

Fiji Economy 2002


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. Long-term problems include low investment and uncertain property rights. The political turmoil in Fiji has had a severe impact with the economy shrinking by 2.8% in 2000 and growing by only 1% in 2001. The Fiji Visitor's Bureau expects visitor arrivals to reach pre-coup levels during 2002. The government's ability to manage its budget - which is expected to run a net deficit of 6% in 2002 - will depend upon a return of political stability and investor confidence.
GDP: purchasing power parity - $4.4 billion (2001 est.)
GDP - real growth rate: 1% (2001 est.)
GDP - per capita: purchasing power parity - $5,200 (2001 est.)
GDP - composition by sector: agriculture: 17% industry: 25% services: 58% (2000 est.)
Population below poverty line: 26% (1990-91 )
Household income or consumption by percentage share: lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices): 3% (2000 est.)
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: 515 million kWh (2000)
Electricity - production by source: fossil fuel: 18% hydro: 82% other: 0% (2000) nuclear: 0%
Electricity - consumption: 478.95 million kWh (2000)
Electricity - exports: 0 kWh (2000)
Electricity - imports: 0 kWh (2000)
Agriculture - products: sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
Exports: $572 million f.o.b. (2000)
Exports - commodities: sugar, garments, gold, timber, fish, molasses, coconut oil
Exports - partners: Australia 24.9%, US 20.8%, UK 14.4%, Japan 5.1%, other Pacific island countries 5.0%, NZ 3.6% (2000)
Imports: $833 million c.i.f. (2000)
Imports - commodities: manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
Imports - partners: Australia 46.2%, NZ 13.1%, Singapore 6.6%, Japan 4.5%, Hong Kong 3.8%, US 3.2%, Taiwan 3.0% (2000)
Debt - external: $162.7 million (1999)
Economic aid - recipient: $40.3 million (1995) (1995)
Currency: Fijian dollar (FJD)
Currency code: FJD
Exchange rates: Fijian dollars per US dollar - 2.2934 (January 2002), 2.2766 (2001), 2.1286 (2000), 1.9696 (1999), 1.9868 (1998), 1.4437 (1997)
Fiscal year: calendar year

NOTE: The economy information regarding Fiji on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Fiji Economy 2002 information contained here. All suggestions for corrections of any errors about Fiji Economy 2002 should be addressed to the CIA.