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Economy - overview:
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Fiji, endowed with forest, mineral, and fish resources, is one of the most developed of the Pacific island economies, though still with a large subsistence sector. Sugar exports and a growing tourist industry - with 300,000 to 400,000 tourists annually - are the major sources of foreign exchange. Sugar processing makes up one-third of industrial activity. Long-term problems include low investment and uncertain property rights. The political turmoil in Fiji has had a severe impact with the economy shrinking by 2.8% in 2000 and growing by only 1% in 2001. The Fiji Visitor's Bureau expects visitor arrivals to reach pre-coup levels during 2002. The government's ability to manage its budget - which is expected to run a net deficit of 6% in 2002 - will depend upon a return of political stability and investor confidence.
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GDP:
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purchasing power parity - $4.4 billion (2001 est.)
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GDP - real growth rate:
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1% (2001 est.)
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GDP - per capita:
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purchasing power parity - $5,200 (2001 est.)
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GDP - composition by sector:
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agriculture: 17%
industry: 25%
services: 58% (2000 est.)
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Population below poverty line:
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26% (1990-91 )
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA%
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Inflation rate (consumer prices):
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3% (2000 est.)
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Labor force:
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137,000 (1999)
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Labor force - by occupation:
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agriculture, including subsistence agriculture 70% (2001 est.)
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Unemployment rate:
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7.6% (1999)
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Budget:
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revenues: $427.9 million
expenditures: $531.4 million, including capital expenditures of $NA (2000 est.)
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Industries:
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tourism, sugar, clothing, copra, gold, silver, lumber, small cottage industries
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Industrial production growth rate:
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NA%
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Electricity - production:
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515 million kWh (2000)
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Electricity - production by source:
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fossil fuel: 18%
hydro: 82%
other: 0% (2000)
nuclear: 0%
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Electricity - consumption:
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478.95 million kWh (2000)
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Electricity - exports:
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0 kWh (2000)
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Electricity - imports:
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0 kWh (2000)
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Agriculture - products:
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sugarcane, coconuts, cassava (tapioca), rice, sweet potatoes, bananas; cattle, pigs, horses, goats; fish
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Exports:
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$572 million f.o.b. (2000)
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Exports - commodities:
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sugar, garments, gold, timber, fish, molasses, coconut oil
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Exports - partners:
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Australia 24.9%, US 20.8%, UK 14.4%, Japan 5.1%, other Pacific island countries 5.0%, NZ 3.6% (2000)
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Imports:
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$833 million c.i.f. (2000)
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Imports - commodities:
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manufactured goods, machinery and transport equipment, petroleum products, food, chemicals
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Imports - partners:
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Australia 46.2%, NZ 13.1%, Singapore 6.6%, Japan 4.5%, Hong Kong 3.8%, US 3.2%, Taiwan 3.0% (2000)
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Debt - external:
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$162.7 million (1999)
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Economic aid - recipient:
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$40.3 million (1995) (1995)
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Currency:
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Fijian dollar (FJD)
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Currency code:
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FJD
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Exchange rates:
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Fijian dollars per US dollar - 2.2934 (January 2002), 2.2766 (2001), 2.1286 (2000), 1.9696 (1999), 1.9868 (1998), 1.4437 (1997)
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Fiscal year:
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calendar year
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