Fiji



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Fiji Economy 2005


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, 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.
GDP (purchasing power parity): $5.173 billion (2004 est.)
GDP - real growth rate: 3.6% (2004 est.)
GDP - per capita: purchasing power parity - $5,900 (2004 est.)
GDP - composition by sector: agriculture: 16.6% industry: 22.4% services: 61% (2001 est.)
Labor force: 137,000 (1999)
Labor force - by occupation: agriculture, including subsistence agriculture 70% (2001 est.)
Unemployment rate: 7.6% (1999)
Population below poverty line: 25.5% (1990-91)
Household income or consumption by percentage share: lowest 10%: NA highest 10%: NA
Inflation rate (consumer prices): 1.6% (2002 est.)
Budget: revenues: $427.9 million expenditures: $531.4 million, including capital expenditures of NA (2000 est.)
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: 750 million kWh (2002)
Electricity - consumption: 697.5 million kWh (2002)
Electricity - exports: 0 kWh (2002)
Electricity - imports: 0 kWh (2002)
Oil - production: 0 bbl/day (2001 est.)
Oil - consumption: 5,700 bbl/day (2001 est.)
Oil - exports: NA
Oil - imports: NA
Exports: $609 million f.o.b. (2002)
Exports - commodities: sugar, garments, gold, timber, fish, molasses, coconut oil
Exports - partners: US 24%, Australia 19%, UK 12.6%, Samoa 6.5%, Japan 4.1% (2004)
Imports: $835 million c.i.f. (2002)
Imports - commodities: manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
Imports - partners: Australia 25.9%, Singapore 23.1%, New Zealand 21.1% (2004)
Debt - external: $188.1 million (2001 est.)
Economic aid - recipient: $40.3 million (1995)
Currency (code): Fijian dollar (FJD)
Exchange rates: Fijian dollars per US dollar - 1.7331 (2004), 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000)
Fiscal year: calendar year

NOTE: The economy information regarding Fiji on this page is re-published from the 2005 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Fiji Economy 2005 information contained here. All suggestions for corrections of any errors about Fiji Economy 2005 should be addressed to the CIA.