Economy of Fiji

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Economy of Fiji

Suva
Currency	Fijian Dollar (FJD, FJ$)
Trade organisations	WTO
Country group	Developing/Emerging[1] Upper-middle income economy[2]
Statistics
Population	913,174 (2023 est.)
GDP	$4.859 billion (nominal, 2023 est.)[3] $10.054 billion (PPP, 2020 est.)[3]
GDP rank	156th (nominal, 2020) 151st (PPP, 2020)
GDP growth	3.5% (2018) 1.0% (2019e) −4.3% (2020f) 1.9% (2021f)[4]
GDP per capita	$5,321 (nominal, 2023)[5] $11,685 (PPP, 2018)[5]
Inflation (CPI)	-2.20%[6]
Population below poverty line	31% (2009 est.)
Human Development Index	0.730 high (2021)[7] (99th) N/A IHDI (2021)[8]
Labour force	353,100 (2017 est.)
Labour force by occupation	Agriculture: 44.2% Industry: 14.3% Services: 41.6% (2011 est.)
Main industries	Tourism, sugar processing, clothing, copra, gold, silver, lumber
External
Exports	$815.3 million (2021 est.)
Export goods	Fuel, including oil, fish, beverages, gems, sugar, garments, gold, timber, fish, molasses, coconut oil, mineral water
Main export partners	United States 20.8%  Australia 14.9%  New Zealand 7.7%  Tonga 5.0%  Vanuatu 4.6%  China 4.5%  Spain 4.3%  United Kingdom 4.3%  Kiribati 4.1%
Imports	$2.116 billion (2021 est.)
Import goods	Manufactured goods, machinery and transport equipment, petroleum products, food and beverages, chemicals, tobacco
Main import partners	Australia 19.2%  New Zealand 17.2%  Singapore 17.0%  China 13.8%
Current account	-$344 million (June. 2020)[9] -$277 million (2017 est.) -$131 million (2016 est.)
Public finances
Government debt	48.9% of GDP (2017 est.)
Revenues	1.454 billion (2017 est.)
Expenses	1.648 billion (2017 est.)
Main data source: CIA World Fact Book All values, unless otherwise stated, are in US dollars.

The economy of Fiji is one of the most developed among the Pacific islands. Nevertheless, Fiji is a developing country endowed with forest, mineral and fish resources. The country has a large agriculture sector heavily based on subsistence agriculture. Sugar exports and the tourism industry are the main sources of foreign exchange. There are also light manufacturing and mining sectors.

Fiji Village quoted Energy Minister Lekh Ram Vayeshnoi on 22 September 2006, who confirmed that the Southern Cross Management Company Limited had applied for a license to drill for petroleum in Fiji's waters. The application was later revoked after exploratory reports indicated that Fijian oil reserves were severely overstated. Accepted estimates now range between 500 - 600 million barrels of Brent crude oil, with a total market value of approximately $4.7 billion over 20 years.

Fiji has a population of 905,949 people. The country's tallest building is the 14-story Reserve Bank of Fiji Building in Suva. Fiji is a member of the WTO.