Oceania > Fiji > Economy

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Agriculture > products sugarcane, coconuts, cassava, rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
Aid as % of GDP	1.9%		[68th of 129]
Big Mac Index	$2.50		[25th of 65]
Debt > External	$127,000,000.00		[25th of 136]
Economic freedom	1.6		[116th of 156]
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. The coup has created a difficult business climate. Tourist arrivals for 2007 are estimated to be down almost 6%, with substantial job losses in the service sector. In July 2007 the Reserve Bank of Fiji announced the economy was expected to contract by 3.1% in 2007. Fiji's current account deficit reached 23% of GDP in 2006. 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.
Exchange rates Fijian dollars per US dollar - 1.7331 (2004), 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000)
Exports	$1,202,000,000.00		[134th of 189]
Exports to US	$28,000,000.00		[118th of 224]
GDP	$2,821,606,000.00		[129th of 203]
GDP (purchasing power parity)	$5,079,000,000.00		[155th of 187]
GDP > PPP	$5,167,000,000.00		[137th of 163]
GDP > Real growth rate	-4.4%		[186th of 198]
GDP growth > annual %	0.7 annual %		[161st of 187]
GDP per capita, PPP > current international $	6,049.22 PPP $		[80th of 169]
Gross National Income	$1,755,080,000.00		[129th of 172]
Gross national income > constant LCU	2274718000
Human Development Index	0.752		[92nd of 178]
Inflation rate (consumer prices)	4.8%		[101st of 192]
Tourist arrivals	359,000		[80th of 152]

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