According to commit4fitness, Fiji is an island country located in the South Pacific. It has an open and market-based economy with a focus on agriculture, industry, and services. The services sector includes banking and finance, telecommunications as well as transport and logistics. The industrial sector produces a range of products including clothing, chemicals and food products which are used both locally and exported. In addition, the tourism industry is also well developed with visitors from all around the world coming to experience its stunning beaches, diverse culture and ancient history. Furthermore, there are numerous international companies operating in Fiji such as Air New Zealand or McDonald’s who have taken advantage of the country’s attractive business environment.
According to Countryaah, Fiji has an agricultural-dominated market economy. The most dominant forage crop is sugar cane, which accounts for 80 percent of total agricultural production.
Other important agricultural products are coconuts, cassava and unpeeled rice. The country’s economy weakened dramatically in connection with the military coup in 1987 and the exit from the Commonwealth, which was a direct consequence of this. Fiji then sought new markets for its foreign trade, and during the 1990s the economy was more oriented towards Asian countries such as China, Taiwan, South Korea and Japan. The most important branch of the manufacturing industry is food production (sugar, copra). In mineral production, gold is of the greatest importance. Water energy is the most important source of energy. However, a considerable proportion of Fiji’s imports consist of petroleum products. Tourism is a major source of income and gives the country a significant inflow of foreign currency.
- According to abbreviationfinder, FJ is the 2 letter abbreviation for the country of Fiji.
|Gross domestic product (GDP)||$ 8,629,000,000|
|GDP growth rate||3.00%|
|GDP per capita||$ 9,800|
|GDP by sector|
|Proportion of the population below the national poverty line||31%|
|Distribution of household income|
|Industrial production growth rate||1.50%|
|National debt||48.90% of GDP|
|Foreign exchange reserves||$ 966,800,000|