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Fiji: Economy

Economy Fiji
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, uncertain land ownership rights, and the government's ability to manage its budget.
GDP:
purchasing power parity - $4.822 billion (2002 est.)
GDP - real growth rate:
4.6% (2002 est.)
GDP - per capita:
purchasing power parity - $5,600 (2002 est.)
GDP - composition by sector:
agriculture: 17%
industry: 25%
services: 58% (2000 est.)
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):
2% (2002 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:
520.1 million kWh (2001)
Electricity - production by source:
fossil fuel: 18.5%
hydro: 81.5%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
483.7 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
5,700 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
Exports:
$442 million f.o.b. (2001)
Exports - commodities:
sugar, garments, gold, timber, fish, molasses, coconut oil
Exports - partners:
US 25.1%, Australia 19.5%, UK 10.6%, Japan 6.3%, Samoa 5.5% (2002)
Imports:
$642 million c.i.f. (2001)
Imports - commodities:
manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
Imports - partners:
Australia 37.3%, New Zealand 17.2%, Singapore 16.1%, Japan 4.2%, China 4% (2002)
Debt - external:
$135.9 million (2000)
Economic aid - recipient:
$40.3 million (1995)
Currency:
Fijian dollar (FJD)
Currency code:
FJD
Exchange rates:
Fijian dollars per US dollar - 2.19 (2002), 2.28 (2001), 2.13 (2000), 1.97 (1999), 1.99 (1998)
Fiscal year:
calendar year

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Source: The CIA World Fact Book 2003

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