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, 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.
GDP (purchasing power parity):
$5.173 billion (2004 est.)
GDP - real growth rate:
3.6% (2004 est.)
GDP - per capita:
purchasing power parity - $5,900 (2004 est.)
GDP - composition by sector: agriculture: 16.6% industry: 22.4% services: 61% (2001 est.)
Labor force:
137,000 (1999)
Labor force - by occupation:
agriculture, including subsistence agriculture 70% (2001 est.)
Unemployment rate:
7.6% (1999)
Population below poverty line:
25.5% (1990-91)