Overview

The Fiji government forecasts a 3 percent growth in 2014, following a strong performance of 3.6 percent in 2013. According to the latest figures available, estimated earnings from tourism, Fiji's largest foreign exchange earner, in 2013 is expected to have reached US$718 million (F$1.322 billion) with visitor arrivals reaching about 673,802. Sugar remains of national importance with government reforms improving quality, farm productivity, and mill efficiency. Sugar production reportedly increased in 2013 by about 16.2 percent. The government's GDP forecast in 2014 is US$2.63 billion (F$4.84 billion). Inflation was at 2.3 percent in January 2014. Fiji's trade imbalance continues to deteriorate. Mineral fuels continue to be the country's largest import. Other major imports include machinery, transport equipment, food and manufactured goods. Major exports include sugar, fish, gold, mineral water, and garments. Foreign reserves were around US$922 million (F$1.69 billion) by February 2014, sufficient to cover 4.5 months of goods imports. U.S. exports to Fiji continue to increase, growing by 20.5 percent in 2013. According to U.S. Department of Commerce statistics, U.S. exports to Fiji amounted to US$66.929 million in 2013, compared to US$55.560 million in 2012. U.S. imports from Fiji declined to US$174.036 million, compared to US$188.67 million in 2012. The main products imported to the U.S. from Fiji include mineral water and tuna. U.S. exports to Fiji were mainly transport equipment and parts, food manufactures, computer and electronic products, and machinery.

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9781502337061

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