Fiji Islands: Economic Outline

Economic Indicators

The country's political instability, along with the economic crisis and the recent floods, have greatly affected the country's growth rate during the last recent years. After contracting by 2.2% in 2009, growth again reached 1.8% in 2010, due to the economic recovery and the improvement in tourism and the construction sector.

The government must face a substantial budget deficit, the threat of inflation and the hazards of natural catastrophes. The priority is given to structural reforms intended to benefit financial growth, to create jobs and to reduce poverty through reforms on the public sector, land property and deregulation.

The economy of Fiji Islands is one of the most developed of the Pacific Islands, but unemployment has increased due to the decline of its economy in the past recent years.

Main Indicators	2009	2010	2011	2012 (e)	2013 (e)
GDP (billions USD)	2.88	3.11e	3.40e	3.64	3.87
GDP (Constant Prices, Annual % Change)	-1.3e	0.3	1.5e	1.8	2.0
GDP per Capita (USD)	3,254e	3,493e	3,806e	4,045	4,278
General Government Gross Debt (in % of GDP)	56.0e	55.8e	56.8	56.9	56.5
Inflation Rate (%)	5.5e	8.4	5.5e	5.0	5.0
Current Account (billions USD)	-0.24	-0.17	-0.35	-0.33	-0.37
Current Account (in % of GDP)	-8.4	-5.6e	-10.3	-9.6	-

Source: IMF - World Economic Outlook Database - Last Available Data.

Note: (e) Estimated Data

Monetary Indicators	2008	2009	2010
Foreign Debt (million USD)	380	432	-
Fiji Dollar (FJD) - Average Annual Exchange Rate For 1 USD	1.59	1.96	1.92

Source: World Bank - Last Available Data.

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Main Sectors of Industry

Breakdown of Economic Activity By Sector	Agriculture	Industry	Services
Employment By Sector (in % of Total Employment)	-	-	-
Value Added (in % of GDP)	13.2	17.9	68.8
Value Added (Annual % Change)	-11.9	-2.3	-1.2