telephone: [679] 331-4466
FAX: [679] 330-0081
Flag description:
light blue with the flag of the UK in the upper hoist-side quadrant and the Fijian shield centered on the outer half of the flag; the shield depicts a yellow lion above a white field quartered by the cross of Saint George featuring stalks of sugarcane, a palm tree, bananas, and a white dove
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, 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. In 2007 tourist arrivals were down almost 6%, with substantial job losses in the service sector, and GDP dipped nearly 7%. The coup has created a difficult business climate. 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. Fiji's current account deficit reached 23% of GDP in 2006.
GDP (purchasing power parity):
$3.587 billion (2008 est.) country comparison to the world: 168 $3.58 billion (2007 est.)
$3.833 billion (2006 est.)