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Fiji Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Fiji Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

Economy - overview:
Fiji, endowed with forest, mineral, and fish resources, is one of the most developed and connected of the Pacific island economies. Earnings from the tourism industry, with an estimated 792,300 tourists visiting in 2016, and remittances from Fijian’s working abroad are the country’s largest foreign exchange earners.Fiji's sugar sector remains a significant industry and a major export, but crops and one of the sugar mills suffered damage during Cyclone Winston in 2016. The sector also faces the complete withdrawal of European Union preferential prices in 2017. Fiji’s trade imbalance continues to widen with increased imports and sluggish performance of domestic exports.The return to parliamentary democracy and successful elections in September 2014 improved investor confidence, but increasing bureaucratic regulation, new taxes and lack of consultation with relevant stakeholders brought four consecutive years of decline for Fiji on the World Bank Ease of Doing Business index. Private sector investment in 2017 approached 20% of GDP, compared to 13% in 2013.

GDP (purchasing power parity):
$8.647 billion (2017 est.) $8.33 billion (2016 est.) $8.299 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 163

GDP (official exchange rate):
$5.054 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.8% (2017 est.) 0.4% (2016 est.) 3.8% (2015 est.)
country comparison to the world: 78
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,900 (2017 est.) $9,500 (2016 est.) $9,500 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 139

Gross national saving:
10.6% of GDP (2017 est.) 9.7% of GDP (2016 est.) 16.9% of GDP (2015 est.)
country comparison to the world: 154
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 71.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 16%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 18.4%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 44.2%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -50.3% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 10.6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 17.9%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 71.5% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
sugarcane, coconuts, cassava (manioc, tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish

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

Industrial production growth rate:
2.8% (2017 est.)
country comparison to the world: 105
[see also: Industrial production growth rate country ranks ]

Labor force:
353,100 (2017 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:
5.5% (2017 est.) 5.5% (2016 est.)
country comparison to the world: 77
[see also: Unemployment rate country ranks ]

Population below poverty line:
31% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 2.6%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 34.9% (2009 est.)

Budget:
revenues: $1.446 billion
[see also: Budget - revenues country ranks ]
expenditures: $1.687 billion (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
28.6% of GDP (2017 est.)
country comparison to the world: 91
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-4.8% of GDP (2017 est.)
country comparison to the world: 158
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
50.4% of GDP (2017 est.) 49.6% of GDP (2016 est.)
country comparison to the world: 101
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
3.8% (2017 est.) 3.9% (2016 est.)
country comparison to the world: 150
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
1.75% (31 December 2010) 3% (31 December 2009)
country comparison to the world: 118
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
6% (31 December 2017 est.) 5.85% (31 December 2016 est.)
country comparison to the world: 126
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$2.138 billion (31 December 2017 est.) $1.994 billion (31 December 2016 est.)
country comparison to the world: 133
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$3.693 billion (31 December 2017 est.) $3.486 billion (31 December 2016 est.)
country comparison to the world: 140
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$3.663 billion (31 December 2017 est.) $3.295 billion (31 December 2016 est.)
country comparison to the world: 134
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$452.5 million (31 December 2012 est.) $392.2 million (31 December 2011 est.) $418.8 million (31 December 2010 est.)
country comparison to the world: 114
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$254 million (2017 est.) -$236 million (2016 est.)
country comparison to the world: 92
[see also: Current account balance country ranks ]

Exports:
$758.6 million (2017 est.) $709 million (2016 est.)
country comparison to the world: 169
[see also: Exports country ranks ]

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

Exports - partners:
US 21.8%, Australia 18.1%, NZ 8.5%, China 6.2%, Tonga 5.1%, Vanuatu 5.1%, UK 4.5%, Kiribati 4.1% (2016)

Imports:
$1.918 billion (2017 est.) $1.844 billion (2016 est.)
country comparison to the world: 161
[see also: Imports country ranks ]

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

Imports - partners:
NZ 17.1%, Australia 17%, Singapore 15.1%, China 15%, Japan 6.7% (2016)

Reserves of foreign exchange and gold:
$966.8 million (31 December 2017 est.) $908.6 million (31 December 2016 est.)
country comparison to the world: 127
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$750.4 million (31 December 2017 est.) $696.4 million (31 December 2016 est.)
country comparison to the world: 171
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$4.342 billion (31 December 2017 est.) $4.022 billion (31 December 2016 est.)
country comparison to the world: 106
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$117.1 million (31 December 2017 est.) $115.1 million (31 December 2016 est.)
country comparison to the world: 103
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Fijian dollars (FJD) per US dollar - 2.075 (2017 est.) 2.0947 (2016 est.) 2.0947 (2015 est.) 2.0976 (2014 est.) 1.8874 (2013 est.)


NOTE: 1) The information regarding Fiji on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Fiji Economy 2018 information contained here. All suggestions for corrections of any errors about Fiji Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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