Island Economy
A healthy economy in a developing country
For a place still considered a developing country Fiji has a very healthy economy. Fiji’s main source of revenue was dominated by textile and sugar exports. Though the sugar and clothing industry remain strong forces in Fiji’s economy numerous recent changes in trade and sugar land leaseholds have led to a decline.
Today sugar makes up 24% of Fiji’s total of $526 million in exports, while clothing makes up 12%. The economy is now driven primarily by the tourism industry which has been increasing since the 1980’s. In 2004 alone tourism from all over the world brought in over $418 million.
In 2005 American’s made up approximately 13% of Fiji’s tourist which equals roughly 70,000 visitors. It’s become a much more convenient destination for American’s to visit and live since non-stop flights from Los Angeles began.
Fiji’s gross domestic product of more than $2.43 billion in 2007 came from services (59.7%), Industry (30.4%) and agriculture (9.9%). Fiji’s roots in agriculture are still very strong, with 67% of the workforce working in this sector.
Other major exports that are derived from the agriculture industry include coconuts and ginger. The other major exports are fish, gold, and mineral water. Mineral water is quickly becoming a huge factor to the economy which has increased by 775% since it began in 2000 with total revenue now surpassing $52 million a year.
Interesting Fact
Along with making excellent garments and textiles the people of Fiji are also highly skilled at weaving mats and baskets. It is a traditional activity for the females of a family and they are used in everyday life around the home as well as given as gifts.
The mats are woven using pandanus leafs that have been cut and cured in the sun then boiled and dried after removing all of the rough edges.