Is Fiji a rich country?
Fiji, endowed with forest, mineral, and fish resources, is one of the most developed and connected of the Pacific island economies. Earnings from the tourism industry, with an estimated 842,884 tourists visiting in 2017, and remittances from Fijian’s working abroad are the country’s largest foreign exchange earners.
Bottled water exports to the US is Fiji’s largest domestic export. Fiji's sugar sector remains a significant industry and a major export, but crops and one of the sugar mills suffered damage during Cyclone Winston in 2016. Fiji’s trade imbalance continues to widen with increased imports and sluggish performance of domestic exports.
The return to parliamentary democracy and successful elections in September 2014 improved investor confidence, but increasing bureaucratic regulation, new taxes, and lack of consultation with relevant stakeholders brought four consecutive years of decline for Fiji on the World Bank Ease of Doing Business index. Private sector investment in 2017 approached 20% of GDP, compared to 13% in 2013.
What is the GDP of Fiji?
|GDP - Gross Domestic Product (PPP)||$8,629,000,000 (USD)|
|GDP - per capita (PPP) note||note: data are in 2017 dollars|
|GDP - note||note: data are in 2017 dollars|
|GDP - official exchange rate||$4,891,000,000 (USD)|
|GDP - real growth rate||3%|
|GDP Per Capita||$9,800.00 (USD)|
|GDP by Sector- agriculture||13.5%|
|GDP by Sector- Industry||17.4%|
|GDP by Sector- services||69.1%|
|GDP - composition, by end use||
household consumption: 81.3% (2017 est.)
government consumption: 24.4% (2017 est.)
investment in fixed capital: 16.9% (2017 est.)
investment in inventories: 0% (2017 est.)
exports of goods and services: 29% (2017 est.)
imports of goods and services: -51.6% (2017 est.)
|Population Below Poverty Line||31%|
|Labor Force By Occupation- agriculture||44.2%|
|Labor Force By Occupation- industry||14.3%|
|Labor Force By Occupation- services||41.6%|
|Fiscal Year||calendar year|
|Annual Budget||$1,454,000,000 (USD)|
|Budget Surplus or Deficit - percent of GDP||-4%|
|Public Debt (% of GDP)||48.9%|
|Taxes and other revenues - percent of GDP||29.7%|
|Major Industries||tourism, sugar processing, clothing, copra, gold, silver, lumber|
|Industrial Growth Rate||2.8%|
|Agriculture Products||sugarcane, copra, ginger, tropical fruits, vegetables; beef, pork, chicken, fish|
|Commercial Bank Prime Lending Rate||5.74%|