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    Fiji Economy - 1991

      Overview: Fiji's economy is primarily agricultural, with a large subsistence sector. Sugar exports are a major source of foreign exchange and sugar processing accounts for one-third of industrial output. Industry, including sugar milling, contributes 13% to GDP. Fiji traditionally had earned considerable sums of hard currency from the 250,000 tourists who visited each year. In 1987, however, after two military coups, the economy went into decline. GDP dropped by 7.8% in 1987 and by another 2.5% in 1988; political uncertainty created a drop in tourism, and the worst drought of the century caused sugar production to fall sharply. In contrast, sugar and tourism turned in strong performances in 1989, and the economy rebounded vigorously. In 1990 the economy received a setback from cyclone Sina which cut sugar output by an estimated 21%.

      GDP: $1.3 billion, per capita $1,693; real growth rate 3.5% (1991 est.)

      Inflation rate (consumer prices): 8.5% (1991 est.)

      Unemployment rate: 5.9 (1991 est.)

      Budget: revenues $314 million; expenditures $355 million, including capital expenditures of $81 million (1990 est.)

      Exports: $646 million (f.o.b., 1991 est.); commodities--sugar 40%, gold, clothing, copra, processed fish, lumber; partners--EC 31%, Australia 21%, Japan 8%, US 6%

      Imports: $840 million (c.i.f., 1991 est.); commodities--machinery and transport 32%, food 15%, petroleum products, consumer goods, chemicals; partners--Australia 30%, NZ 17%, Japan 13%, EC 6%, US 6%

      External debt: $428 million (December 1990 est.)

      Industrial production: growth rate 8.4% (1991 est.); accounts for 13% of GDP

      Electricity: 215,000 kW capacity; 330 million kWh produced, 430 kWh per capita (1990)

      Industries: sugar, tourism, copra, gold, silver, fishing, clothing, lumber, small cottage industries

      Agriculture: accounts for 23% of GDP; principal cash crop is sugarcane; coconuts, cassava, rice, sweet potatoes, and bananas; small livestock sector includes cattle, pigs, horses, and goats

      Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1980-87), $732 million

      Currency: Fijian dollar (plural--dollars); 1 Fijian dollar (F$) = 100 cents

      Exchange rates: Fijian dollars (F$) per US$1--1.4476 (January 1991), 1.4809 (1990), 1.4833 (1989), 1.4303 (1988), 1.2439 (1987), 1.1329 (1986), 1.1536 (1985)

      Fiscal year: calendar year

      NOTE: The information regarding Fiji on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Fiji Economy 1991 information contained here. All suggestions for corrections of any errors about Fiji Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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