Main Imports and Exports of Fiji
Fiji is a country situated in the South Pacific Ocean; it is a chain of 300 islands. The country is abundantly blessed with luscious greenery, mountains, waterfalls and beaches all around. Amongst the 300 islands, only around 100 are inhabited.
Thanks to the scenic views, tropical environment and lush vegetation, the economy is primarily based around agriculture and tourism. The economy is in fact among the strongest performing economies in the Pacific islands. The following is a breakdown of the main imports and exports of the country.
The main trading partners of Fiji, imports wise are Singapore, Australia, France, China, New Zeeland, Korea, Japan, USA, India and Thailand. The countries were listed according to the percentage of total imports shared with each country. A wide variety of materials and items are imported from each of these countries, given below is a list of the major expenses:
- Petroleum oils and other mineral oils.
- Aircraftparts, helicopters and jets for armed forces.
- Nuclear reactors and other related machinery.
- Electrical machinery and appliances.
- Vehicles for public use. (cars, buses, vans)
- Plastics for industrial usage.
- Paper and other paper-basedproducts.
- Iron and steel products.
- Dairy and meats. (milk, beef, poultry products)
Plans set by the government have been put in place to make the country more self-reliant in terms of food items. There has also been promotion and help provided to locals to engage in agricultural activities in order to reach this goal.
The best export destinations arethe USA, Australia, New Zealand, Tonga, China, Japan and Samoa. The countries were listed based on the percentage of the total exports. The following export items are given below:
- Petroleum oils and other mineral products.
- Beverages. (spirits, vinegar)
- Electrical appliances and machines.
- Sugar and other sugar-based products.
- Precious stones and gems.
- Aircraft parts.
- Lumber, charcoal and other wood products.
- Herbal medicines (native flowers and high-quality Kava products)
Apart from the manufacture of products and agriculture, the main income generating source remains to be tourism. Although it has seen a decline in recent years due to government instability and other catastrophes such as the coivd-19 pandemic, Fiji still remains to be an attractive travel destination. Due to the ideal positioning of the islands to countries like Australia, Japan, New Zealand and USA there is a constant flow of tourists in to the country.
The government is also actively looking for foreign investments by providing incentives such as residency for potential investors. These efforts among others seem to be paying off as the forecasted economic growth of the country seems to be positive, with the 2021 forecasted GDP growth rate at 1.0%.
This may not seem extremely promising, although you have to take in to account the recent struggles faced by the whole world with tackling a pandemic. And in that context, these numbers are promising for a developing country such as Fiji.