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. 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. Long-term problems include low investment, uncertain land ownership rights, and the government's ability to manage its budget. Yet short-run economic prospects are good, provided tensions do not again erupt between indigenous Fijians and Indo-Fijians. Overseas remittances from Fijians working in Kuwait and Iraq have increased significantly. |
GDP - per capita | $6,000 (2005 est.) |
GDP - real growth rate (%) | 2% (2005 est.) |
Agriculture - products | sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish |
GDP - composition by sector (%) | agriculture: 16.6%, industry: 22.4%, services: 61% (2001 est.) |
Industries | tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries |
Economic aid - recipient | $40.3 million (1995) |
Debt - external | $188.1 million (2001 est.) |
Population below poverty line (%) | 25.5% (1990-91) |
Labor force - by occupation (%) | agriculture, including subsistence agriculture 70% (2001 est.) |