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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, but is inefficient. 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.
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GDP: |
purchasing power parity - $5.173 billion (2004 est.)
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GDP - real growth rate: |
3.6% (2004 est.)
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GDP - per capita: |
purchasing power parity - $5,900 (2004 est.)
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GDP - composition by sector: |
agriculture: 16.6%
industry: 22.4%
services: 61% (2001 est.)
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Labor force: |
137,000 (1999)
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Labor force - by occupation: |
agriculture, including subsistence agriculture 70% (2001 est.)
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Unemployment rate: |
7.6% (1999)
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Population below poverty line: |
25.5% (1990-91)
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Household income or consumption by percentage share: |
lowest 10%: NA
highest 10%: NA
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Inflation rate (consumer prices): |
1.6% (2002 est.)
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Budget: |
revenues: $427.9 million
expenditures: $531.4 million, including capital expenditures of NA (2000 est.)
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Agriculture - products: |
sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
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Industries: |
tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries
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Industrial production growth rate: |
NA
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Electricity - production: |
750 million kWh (2002)
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Electricity - production by source: |
fossil fuel: 18.5%
hydro: 81.5%
nuclear: 0%
other: 0% (2001)
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Electricity - consumption: |
697.5 million kWh (2002)
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Electricity - exports: |
0 kWh (2002)
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Electricity - imports: |
0 kWh (2002)
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Oil - production: |
0 bbl/day (2001 est.)
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Oil - consumption: |
5,700 bbl/day (2001 est.)
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Oil - exports: |
NA
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Oil - imports: |
NA
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Exports: |
$609 million f.o.b. (2002)
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Exports - commodities: |
sugar, garments, gold, timber, fish, molasses, coconut oil
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Exports - partners: |
US 23.6%, Australia 19.2%, UK 12.8%, Samoa 6.2%, Japan 4.1% (2004)
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Imports: |
$835 million c.i.f. (2002)
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Imports - commodities: |
manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
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Imports - partners: |
Australia 27.7%, Singapore 24.8%, New Zealand 17.8%, Japan 4.2% (2004)
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Debt - external: |
$188.1 million (2001 est.)
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Economic aid - recipient: |
$40.3 million (1995)
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Currency (code): |
Fijian dollar (FJD)
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Currency code: |
FJD
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Exchange rates: |
Fijian dollars per US dollar - 1.7331 (2004), 1.8958 (2003), 2.1869 (2002), 2.2766 (2001), 2.1286 (2000)
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Fiscal year: |
calendar year
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