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Economy of Fiji
The economy of Fiji is one of the most developed among the Pacific islands. Nevertheless, Fiji is a developing country endowed with forest, mineral and fish resources. The country has a large agriculture sector heavily based on subsistence agriculture. Sugar exports and the tourism industry are the main sources of foreign exchange. There are also light manufacturing and mining sectors. Currently Fiji embraces a market economy, years ago however Fiji advocated for a mixed economic system.
The country's petroleum production remains at zero despite previous hints at reserves, and it relies entirely on imports to meet its refined petroleum product needs.
As of 2025, Fiji's population was estimated to be approximately 949,992, reflecting a 0.73% increase from the previous year. The country's tallest building is the 30-story Grand Fijian Tower in Suva.
In September 2002, the government announced a 20-year development plan. Among other things, it aimed to give indigenous Fijians a greater stake in the economy. The plan envisages tax-relief to businesses owned or managed by ethnic Fijians, along with greater protection for indigenous land and fishery rights.
A major aim of the Fijian government is to achieve self-sufficiency in rice production. Cattle farming, fishing, and forestry (especially pine trees) are being encouraged to diversify the economy; the leading manufacturing industries involve the processing of primary products. On 14 April 2005, the Cabinet approved Prime Minister Laisenia Qarase's proposal to develop a biofuels industry. Under the plan, ethanol is to be developed as a complement to the sugar industry, with the hope of alleviating Fiji's dependence on imported fossil fuel such as petrol.
On 15 August, Qarase said that the United Nations Development Programme (UNDP) had granted assistance to Fiji to develop its biofuels project. Transformation of the Fiji Sugar Corporation into an energy and sugar company would result in a turnover of F$1 billion by 2025, he said, and would cut imports of crude oil, generate export earnings, and provide a source of electricity. Energy could be produced from copra, forest, and agricultural products, as well as sugar. He touted the scheme as necessary for diversifying and strengthening the sugar industry for its own survival, as well as for the national economy. He said that the government of India had loaned F$86 million for upgrading of Fiji's sugar mills, which would be completed in time for the 2007-2008 crushing season.
On 28 December 2005, John Teiwa of the Coconut Industry Development Authority announced that a 20-year plan for the coconut industry would be launched in 2006. Financing from international investors, including the government of India, would be sought to develop processing of virgin and extra virgin coconut oil, with a view to venturing into foreign health markets. The government expected an annual profit of F$120 million from the venture, Fiji Village reported. Trials for the generation of fuel from coconut oil were also in progress, Teiwa said.
Fiji has a large subsistence agriculture sector, which accounts for 18% of gross domestic product, although it employed some 70% of the workforce as of 2001[citation needed]. Sugarcane is the main agricultural product grown in Fiji. Other agricultural products grown in Fiji include coconuts, copra, ginger, cassava, bananas, rice, sweet potatoes, taro, pickles, kava, pineapples, and plantains. Livestock such as cattle, pigs, and goats are also reared for meat. Fishing is important to the economy as well, with fish products accounting for almost one-tenth of revenue from exports in the early 21st century. Lumber is another major industry, with timber being Fiji's third-largest export commodity.
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Economy of Fiji
The economy of Fiji is one of the most developed among the Pacific islands. Nevertheless, Fiji is a developing country endowed with forest, mineral and fish resources. The country has a large agriculture sector heavily based on subsistence agriculture. Sugar exports and the tourism industry are the main sources of foreign exchange. There are also light manufacturing and mining sectors. Currently Fiji embraces a market economy, years ago however Fiji advocated for a mixed economic system.
The country's petroleum production remains at zero despite previous hints at reserves, and it relies entirely on imports to meet its refined petroleum product needs.
As of 2025, Fiji's population was estimated to be approximately 949,992, reflecting a 0.73% increase from the previous year. The country's tallest building is the 30-story Grand Fijian Tower in Suva.
In September 2002, the government announced a 20-year development plan. Among other things, it aimed to give indigenous Fijians a greater stake in the economy. The plan envisages tax-relief to businesses owned or managed by ethnic Fijians, along with greater protection for indigenous land and fishery rights.
A major aim of the Fijian government is to achieve self-sufficiency in rice production. Cattle farming, fishing, and forestry (especially pine trees) are being encouraged to diversify the economy; the leading manufacturing industries involve the processing of primary products. On 14 April 2005, the Cabinet approved Prime Minister Laisenia Qarase's proposal to develop a biofuels industry. Under the plan, ethanol is to be developed as a complement to the sugar industry, with the hope of alleviating Fiji's dependence on imported fossil fuel such as petrol.
On 15 August, Qarase said that the United Nations Development Programme (UNDP) had granted assistance to Fiji to develop its biofuels project. Transformation of the Fiji Sugar Corporation into an energy and sugar company would result in a turnover of F$1 billion by 2025, he said, and would cut imports of crude oil, generate export earnings, and provide a source of electricity. Energy could be produced from copra, forest, and agricultural products, as well as sugar. He touted the scheme as necessary for diversifying and strengthening the sugar industry for its own survival, as well as for the national economy. He said that the government of India had loaned F$86 million for upgrading of Fiji's sugar mills, which would be completed in time for the 2007-2008 crushing season.
On 28 December 2005, John Teiwa of the Coconut Industry Development Authority announced that a 20-year plan for the coconut industry would be launched in 2006. Financing from international investors, including the government of India, would be sought to develop processing of virgin and extra virgin coconut oil, with a view to venturing into foreign health markets. The government expected an annual profit of F$120 million from the venture, Fiji Village reported. Trials for the generation of fuel from coconut oil were also in progress, Teiwa said.
Fiji has a large subsistence agriculture sector, which accounts for 18% of gross domestic product, although it employed some 70% of the workforce as of 2001[citation needed]. Sugarcane is the main agricultural product grown in Fiji. Other agricultural products grown in Fiji include coconuts, copra, ginger, cassava, bananas, rice, sweet potatoes, taro, pickles, kava, pineapples, and plantains. Livestock such as cattle, pigs, and goats are also reared for meat. Fishing is important to the economy as well, with fish products accounting for almost one-tenth of revenue from exports in the early 21st century. Lumber is another major industry, with timber being Fiji's third-largest export commodity.