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ECONOMY OF FIJI
Fiji is a tourism-based Pacific island economy, susceptible to sea-level rises; new energy infrastructure investments; major foreign direct investment; COVID-19 crippled tourism sector; privatizing state-owned enterprises; military coups have destabilized labor force. Fiji is a center for Pacific tourism, and Nadi International Airport is by far the busiest airport in a Pacific island country.[Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by Origin) agriculture: 13.5 percent (2017 estimate)
industry: 17.4 percent (2017 estimate)
services: 69.1 percent (2017 estimate)
comparison rankings: agriculture 72; industry 169; services 76. [Source: CIA World Factbook, 2023]
Sectors of the Economy Composition of GDP by End Use) household consumption: 81.3 percent (2017 estimate)
government consumption: 24.4 percent (2017 estimate)
investment in fixed capital: 16.9 percent (2017 estimate)
investment in inventories: 0 percent (2017 estimate)
exports of goods and services: 29 percent (2017 estimate)
imports of goods and services: -51.6 percent (2017 estimate). [Source: CIA World Factbook, 2023]
Natural Resources: timber, fish, gold, copper, offshore oil potential, hydropower
Industries: tourism, sugar processing, clothing, copra, gold, silver, lumber. Industrial Production Growth -8.34 percent (2021 estimate); ranking compared to other countries in the world: 197. [Source: CIA World Factbook, 2023]
Fiscal Year: Calendar year. [Source: CIA World Factbook, 2023]
Economic Statistics for Fiji
Gross Domestic Product (GDP) (purchasing power parity): $9.578 billion (2021 estimate)
$10.094 billion (2020 estimate)
$12.162 billion (2019 estimate). note: data are in 2017 dollars; ranking compared to other countries in the world: 165. [Source: CIA World Factbook, 2023]
Growth: -5.11 percent (2021 estimate)
-17 percent (2020 estimate)
-0.58 percent (2019 estimate); ranking compared to other countries in the world: 211. [Source: CIA World Factbook, 2023]
Per Capita GDP: $10,400 (2021 estimate)
$11,000 (2020 estimate)
$13,200 (2019 estimate), data are in 2017 dollars; ranking compared to other countries in the world: 144. [Source: CIA World Factbook, 2023]
GDP: (official exchange): $4.891 billion (2017 estimate). [Source: CIA World Factbook, 2023]
Inflation (consumer prices): 0.16 percent (2021 estimate)
-2.6 percent (2020 estimate)
1.77 percent (2019 estimate); ranking compared to other countries in the world: 211. [Source: CIA World Factbook, 2023]
Agriculture in Fiji
Agricultural Products: sugar cane, cassava, taro, poultry, vegetables, coconuts, eggs, milk, ginger, sweet potatoes. [Source: CIA World Factbook, 2023]
Land Use: agricultural land: 23.3 percent (2018 estimate). Arable Land: 9 percent (2018 estimate); permanent crops: 4.7 percent (2018 estimate); permanent pasture: 9.6 percent (2018 estimate); forest: 55.7 percent (2018 estimate); other: 21 percent (2018 estimate). Irrigated Land: 40 square kilometers (2012). [Source: CIA World Factbook 2023]
Labor, Poverty and Unemployment
Labor Force: 372,200 (2021 estimate); ranking compared to other countries in the world: 163. [Source: CIA World Factbook, 2023]
Labor Force by Occupation: agriculture: 44.2 percent; industry: 14.3 percent; services: 41.6 percent (2011)
Unemployment Rate: 5.24 percent (2021 estimate)
4.72 percent (2020 estimate)
4.45 percent (2019 estimate); ranking compared to other countries in the world: 142. [Source: CIA World Factbook 2023]
Youth Unemployment Rate (ages 15-24): total: 18.1 percent; male: 14.1 percent; female: 25.9 percent (2021 estimate); ranking compared to other countries in the world: 95. [Source: CIA World Factbook 2023]
Population Below Poverty Line: 29.9 percent (2019 estimate)
Gini Index coefficient: distribution of family income
30.7 (2019 estimate); ranking compared to other countries in the world: 88. [Source: CIA World Factbook, 2023]
Household Income or Consumption by Percentage Share: lowest 10 percent: 2.6 percent; highest 10 percent: 34.9 percent (2009 estimate)
Trade in Fiji
Current Account Balance: -$597.29 million (2021 estimate)
-$575.635 million (2020 estimate)
-$689.438 million (2019 estimate); ranking compared to other countries in the world: 123. [Source: CIA World Factbook, 2023]
Exports (data in current year dollars): $1.171 billion (2021 estimate); $1.23 billion (2020 estimate); $2.636 billion (2019 estimate) ; ranking compared to other countries in the world: 174. [Source: CIA World Factbook, 2023]
Export Partners: United States 29 percent, Australia 14 percent, New Zealand 7 percent, Japan 6 percent, Tonga 6 percent (2019). [Source: CIA World Factbook, 2023]
Main Exports: water, fuel wood, gold, sugar, refined petroleum, fish (2021). [Source: CIA World Factbook, 2023]
Imports (data in current year dollars): $2.344 billion (2021 estimate); $1.977 billion (2020 estimate); $3.206 billion (2019 estimate) ; ranking compared to other countries in the world: 166. [Source: CIA World Factbook, 2023]
Import Partners: Singapore 18 percent, Australia 13 percent, China 13.8 percent, New Zealand 11 percent, France 11 percent, South Korea 8 percent (2017). [Source: CIA World Factbook, 2023]
Main Imports: refined petroleum, aircraft, cars, wheat, broadcasting equipment (2019). [Source: CIA World Factbook, 2023]
Debt and Foreign Exchange in Fiji
Reserves of Foreign Exchange and Gold: $1.518 billion (31 December 2021 estimate)
$1.082 billion (31 December 2020 estimate)
$1.043 billion (31 December 2019 estimate); ranking compared to other countries in the world: 136. [Source: CIA World Factbook, 2023]
Debt (External): $1.022 billion (31 December 2017 estimate)
$696.4 million (31 December 2016 estimate); ranking compared to other countries in the world: 165. [Source: CIA World Factbook, 2023]
Public Debt: 48.9 percent of GDP (2017 estimate)
47.5 percent of GDP (2016 estimate); ranking compared to other countries in the world: 110. [Source: CIA World Factbook, 2023]
Currency Exchange Rates: Fijian dollars (FJD) per US dollar
2.071 (2021 estimate)
2.169 (2020 estimate)
2.16 (2019 estimate)
2.087 (2018 estimate)
2.067 (2017 estimate)
[Source: CIA World Factbook, 2023]
Credit Rating: Moody's rating: Ba3 (2017); Standard & Poors rating: BB- (2019). note: The year refers to the year in which the current credit rating was first obtained. [Source: CIA World Factbook, 2023]
Taxes: 19.26 percent (of GDP) (2020 estimate); ranking compared to other countries in the world: 96. [Source: CIA World Factbook, 2023]
Image Sources:
Text Sources: CIA World Factbook, 2023; “Encyclopedia of World Cultures, Volume 2: Oceania,” edited by Terence E. Hays, 1991, Wikipedia, New York Times, Washington Post, Los Angeles Times, Times of London, Lonely Planet Guides, Library of Congress, The Guardian, National Geographic, Smithsonian magazine, The New Yorker, Reuters, Associated Press, AFP, BBC, CNN, and various books, websites and other publications.
Last updated August 2023