Fiji - Economy
How is the economy of Fiji? Based on the information we have, Fiji has a upper-middle income, tourism-based Pacific island economy; susceptible to ocean rises; key energy and infrastructure investments; post-pandemic tourism resurgence; improved debt standing; limited workforce. Key agricultural products in this country include: sugarcane, cassava, taro, chicken, vegetables, coconuts, ginger, rice, milk, sweet potatoes (2022).
More about the economy of Fiji
| Labor force | 391,000 (2023 est.) |
|---|---|
| Industrial production growth rate | 15.32% (2023 est.) |
| Industries | tourism, sugar processing, clothing, copra, gold, silver, lumber |
| Population below poverty line | 24.1% (2019 est.) |
| Taxes and other revenues | 15.87% (of GDP) (2021 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | Fijian dollars (FJD) per US dollar - |
| Exchange rates 2023 | 2.25 (2023 est.) |
| Exchange rates 2022 | 2.201 (2022 est.) |
| Exchange rates 2021 | 2.071 (2021 est.) |
| Exchange rates 2020 | 2.169 (2020 est.) |
| Exchange rates 2019 | 2.16 (2019 est.) |
| Debt - external | |
| Debt - external 2022 | $1.235 billion (2022 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.548 billion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.557 billion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.518 billion (2021 est.) |
| Current account balance | |
| Current account balance 2022 | -$865.665 million (2022 est.) |
| Current account balance 2021 | -$686.577 million (2021 est.) |
| Current account balance 2020 | -$614.13 million (2020 est.) |
| Public debt | |
| Public debt 2017 | 48.9% of GDP (2017 est.) |
| Budget | |
| Revenues | $1.019 billion (2021 est.) |
| Expenditures | $1.488 billion (2021 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 9.1% of GDP (2023 est.) |
| Remittances 2022 | 9.21% of GDP (2022 est.) |
| Remittances 2021 | 9.14% of GDP (2021 est.) |
| Household income | |
| Lowest 10% | 3.5% (2019 est.) |
| Highest 10% | 24.2% (2019 est.) |
| Imports | |
| Imports 2022 | $3.434 billion (2022 est.) |
| Imports 2021 | $2.344 billion (2021 est.) |
| Imports 2020 | $1.977 billion (2020 est.) |
| Imports (partners) | Singapore 23%, China 16%, Australia 13%, NZ 11%, South Korea 8% (2022) |
| Comodities Imports force | refined petroleum, plastic products, plastics, wheat, garments (2022) |
| Exports | |
| Imports 2022 | $3.434 billion (2022 est.) |
| Imports 2021 | $2.344 billion (2021 est.) |
| Imports 2020 | $1.977 billion (2020 est.) |
| Exports (partners) | US 39%, Australia 11%, Tonga 5%, NZ 5%, China 4% (2022) |
| Comodities Exports force | water, fish, refined petroleum, wood, garments (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $12.699 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $11.756 billion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $9.795 billion (2021 est.) |
| GDP (official exchange rate) | $5.495 billion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $13,600 (2023 est.) |
| Real GDP per capita 2022 | $12,600 (2022 est.) |
| Real GDP per capita 2021 | $10,600 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 8.3% (2023 est.) |
| Industry | 16.1% (2023 est.) |
| Services | 52.9% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 67.5% (2023 est.) |
| Government consumption | 20.6% (2023 est.) |
| Investment in fixed capital | 17.6% (2023 est.) |
| Investment in inventories | -4.8% (2023 est.) |
| Exports of goods and services | 55.2% (2023 est.) |
| Imports of goods and services | -65.8% (2023 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 4.33% (2023 est.) |
| Unemployment rate 2022 | 4.48% (2022 est.) |
| Unemployment rate 2021 | 4.68% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 15.2% (2023 est.) |
| Male | 11.7% (2023 est.) |
| Female | 22.1% (2023 est.) |
All Important Facts about Fiji
Want to know more about Fiji? Check all different factbooks for Fiji below.
