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Fiji Economy 2011
https://theodora.com/wfb2011/fiji/fiji_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 11, 2011

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, remittances from Fijians working abroad, and a growing tourist industry - with 400,000 to 500,000 tourists annually - are the major sources of foreign exchange. Fiji's sugar has special access to European Union markets but will be harmed by the EU's decision to cut sugar subsidies. Sugar processing makes up one-third of industrial activity but is not efficient. Fiji's tourism industry was damaged by the December 2006 coup and is facing an uncertain recovery time. In 2007 tourist arrivals were down almost 6%, with substantial job losses in the service sector, and GDP dipped. The coup has created a difficult business climate. The EU has suspended all aid until the interim government takes steps toward new elections. Long-term problems include low investment, uncertain land ownership rights, and the government's inability to manage its budget. Overseas remittances from Fijians working in Kuwait and Iraq have decreased significantly. Fiji's current account deficit reached 23% of GDP in 2006.

GDP (purchasing power parity):
$3.792 billion (2010 est.)
country comparison to the world: 169

$3.725 billion (2009 est.)
$3.821 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$3.154 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
1.8% (2010 est.)
country comparison to the world: 156

-2.5% (2009 est.)
-0.1% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$4,300 (2010 est.)
country comparison to the world: 156

$4,300 (2009 est.)
$4,400 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 8.9%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 13.5%
[see also: GDP - composition by sector - industry country ranks ]
services: 77.6% (2004 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
335,000 (2007 est.)
country comparison to the world: 161
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 70%
[see also: Labor force - by occupation - agriculture country ranks ]
industry and services: 30% (2001 est.)

Unemployment rate:
7.6% (1999)
country comparison to the world: 81
[see also: Unemployment rate country ranks ]

Population below poverty line:
25.5% (FY90/91)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $1.363 billion
[see also: Budget - revenues country ranks ]
expenditures: $1.376 billion (2006)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
4.8% (2007)
country comparison to the world: 138
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
3% (31 December 2009)
country comparison to the world: 70

6.32% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
7.85% (31 December 2009 est.)
country comparison to the world: 120

7.97% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$748 million (31 December 2008)

$1.042 billion (31 December 2007)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$NA (31 December 2009)

$1.76 billion (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$NA (31 December 2008)

$1.799 billion (31 December 2008)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA (31 December 2009)
country comparison to the world: 105

$568.2 million (31 December 2008)
$522.2 million (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

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%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
928 million kWh (2007 est.)
country comparison to the world: 147
[see also: Electricity - production country ranks ]

Electricity - consumption:
863 million kWh (2007 est.)
country comparison to the world: 148
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 175
[see also: Oil - production country ranks ]

Oil - consumption:
11,000 bbl/day (2009 est.)
country comparison to the world: 147
[see also: Oil - consumption country ranks ]

Oil - exports:
2,455 bbl/day (2007 est.)
country comparison to the world: 111
[see also: Oil - exports country ranks ]

Oil - imports:
20,340 bbl/day (2007 est.)
country comparison to the world: 112
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 180
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 196
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 185
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 180
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 180
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 180
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$507 million (2007 est.)
country comparison to the world: 117
[see also: Current account balance country ranks ]

Exports:
$1.202 billion (2006)
country comparison to the world: 148
[see also: Exports country ranks ]

Exports - commodities:
sugar, garments, gold, timber, fish, molasses, coconut oil

Exports - partners:
US 15.21%, Australia 12.11%, UK 11.23%, Samoa 5.39%, Tonga 4.74%, Japan 4.44% (2009)

Imports:
$3.12 billion (2006)
country comparison to the world: 138
[see also: Imports country ranks ]

Imports - commodities:
manufactured goods, machinery and transport equipment, petroleum products, food, chemicals

Imports - partners:
Singapore 27.27%, Australia 19.36%, NZ 15.15%, China 6.92%, India 5.23%, Thailand 4.25% (2009)

Debt - external:
$127 million (2004 est.)
country comparison to the world: 180
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$NA
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Fijian dollars (FJD) per US dollar - NA (2007), 1.7313 (2006), 1.691 (2005), 1.7331 (2004), 1.8958 (2003)


NOTE: The information regarding Fiji on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Fiji Economy 2011 information contained here. All suggestions for corrections of any errors about Fiji Economy 2011 should be addressed to the CIA.



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This page was last modified 09-Feb-11
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