Fiji — Business
Statistics
•GDP: US$3.4 billion (2007).
• Main exports: Sugar, garments, mineral water, timber and fish.
• Main imports: Manufactured goods, machinery and transport equipment, petroleum and food.
• Main trade partners: Australia, Singapore, New Zealand, USA and UK.
Economy
The Fijian economy has a sizeable subsistence agricultural economy as well as producing cash crops, of which sugar is the most important. Despite reform attempts, the state-owned sugar monopoly remains close to collapse through years of inefficiency and the state of the world sugar market. Indo-Fijian farmers are being forced off the land as leases held by indigenous Fijians expire.
Fish and timber, especially mahogany (of which Fiji is the world's second-largest producer) are also vital export earners. Low-grade copper deposits exist on Viti Levu but have been judged uneconomic by transnational mining companies.
Tourism is the main service industry, but has been affected by various political upheavals.
Annual GDP growth was estimated at -4.4% in 2007 due to repercussions from the military coup. When Australia and New Zealand imposed ecomonic sanctions, Fiji established closer economic relations with Asian countries, including China, Korea (Republic of) and Taiwan.
Business Etiquette
Lightweight suits should be worn.
Office hours: Mon-Fri 0830-1630/1700 (some offices close one hour earlier on Fridays).
Business Contacts
Suva Chamber of Commerce and Industry
PO Box 2475, Government Buildings, Suva, Fiji
Tel: 331 4044.
Website: www.suvachamber.org
Fiji Islands Trade and Investment Bureau
PO Box 2303, Government Buildings, 6th Floor, Civic Tower, Suva, Fiji
Tel: 331 5988.
Website: www.ftib.org.fj
