An Overview of the Economy
Rich in natural resources, Fiji has long relied upon its home
grown exports to support the economy, with sugar exportation
accounting for a large proportion of foreign income. Recently
tourism has developed to playing a major role within the Fijian
economy, accounting for over a quarter of the national GDP, but the
recurrences of political coups (there have been four in the last 20
years) has created a downturn in tourist numbers, with 2007 visitor
figures down by almost 6% from the previous year following the most
recent coup in 2006. Fiji currently has a large trade deficit and
is one of the world's largest per capita recipients of foreign
aid.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
3.7 |
| GDP (PPP) (CIA) (US$Billions) |
5.1 |
| GDP Growth (IMF) (%) |
-4.40% |
| GDP Growth (CIA) (%) |
3.9% |
| GDP Per Capita (PPP) (IMF) (US$) |
4,229 |
| GDP Per Capita (PPP) (CIA) (US$) |
5,500 |
| GDP by Sector (%) |
Agriculture: 8.9%
Services: 77.6%
Industry: 13.5% |
| Inflation (%) |
4.8% |
| Population Below the Poverty Line (%) |
25.5% |
| Labour Force (millions) |
117,500 |
| Labour Force by Occupation (%) |
Agriculture: 70%
Services & Industry: 30% |
| Unemployment (%) |
7.6% |
| Main Industries |
Tourism, sugar, clothing, copra, gold,
silver, lumber, small cottage industries. |
Source: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
2.3 |
2.7 |
2.0 |
3.2 |
3.4 |
| GDP Growth (%) |
1.1% |
5.4% |
0.7% |
3.6% |
-4.4% |
| GDP Per Capita (US$) |
2,761 |
3,221 |
3,467 |
3,674 |
3,920 |
| GDP Per Capita (PPP) (US$) |
3,664 |
3,881 |
4,100 |
4,144 |
4,229 |
| Inflation (%) |
4.2% |
2.8% |
2.4% |
2.5% |
4.8% |
| Unemployment (%) |
76% (1999)
- |
- |
- |
- |
- |
| Mobile Phone Users |
5,200 |
109,900 |
109,900 |
142,200 |
205,000 |
| Internet Users |
55,000 |
55,000 |
61,100 |
61,100 |
80,000 |
Source: IMF, CIA World Factbook
Major Exports & Imports
Sugar is one of the country's major export commodities but the
industry may be harmed by the EU's decision to cut sugar subsidies.
Trade tends to occur between nations that are local to the Pacific,
with the exception of the UK and US.
Major Exports 2007
Sugar, garments, gold, timber, fish, molasses, coconut oil.
Major Imports 2007
Manufactured goods, machinery and transport equipment, petroleum
products, food, chemicals.
| Export Partners 2007 |
% of total |
| US |
16.8% |
| Australia |
13.9% |
| UK |
13.5% |
| Japan |
5.3% |
| Samoa |
4.7% |
| Tonga |
4.1% |
| import partners 2007 |
% of total |
| Singapore |
28.8% |
| Australia |
23.3% |
| New Zealand |
16.8% |
| China |
4.7% |
Source: CIA World Factbook
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