Fiji: Economy

Recent strong growth driven by a favorable domestic environment and rising investor confidence suffered a setback in February 2016 when a category 5 cyclone struck Fiji. Early assessment shows agriculture, especially sugar, was hard hit. Tourism faces headwinds from significant (as high as 25%) cancellations immediately following the cyclone. Damage and losses are initially estimated to exceed $500 million, or the equivalent of roughly 11% of gross domestic product (GDP), are likely to constrain growth in 2016. Read more from Asian Development Outlook 2016


Economic forecasts for Pacific countries

Country 2016 2017
Cook Islands 0.0 0.2
Fiji 2.7 4.5
Kiribati 1.8 2.0
Marshall Islands 1.5 2.0
Micronesia, Federated States of 2.5 3.5
Nauru 3.0 15.0
Palau 3.0 7.0
Papua New Guinea 4.3 2.4
Samoa 2.0 0.5
Solomon Islands 3.0 2.8
Timor-Leste 4.5 5.5
Tonga 2.8 2.7
Tuvalu 3.5 3.0
Vanuatu 2.5 3.8
Average 3.8 3.1
Country 2016 2017
Cook Islands 1.8 2.0
Fiji 3.0 3.0
Kiribati 0.3 0.8
Marshall Islands 2.0 2.5
Micronesia, Federated States of -0.3 0.3
Nauru 6.6 1.7
Palau 1.5 2.5
Papua New Guinea 6.0 6.0
Samoa 2.0 2.0
Solomon Islands 4.4 5.7
Timor-Leste 2.0 3.0
Tonga -0.3 0.5
Tuvalu 3.5 2.0
Vanuatu 1.9 2.4
Average 4.5 4.7
Country 2016 2017
Cook Islands 37.3 41.3
Fiji -7.0 -4.4
Kiribati 15.0 -10.0
Marshall Islands 11.1 8.9
Micronesia, Federated States of 19.5 30.1
Nauru ... ...
Palau -2.3 -1.3
Papua New Guinea 3.8 7.2
Samoa -4.3 -5.1
Solomon Islands -5.9 -7.2
Timor-Leste 26.1 11.8
Tonga -1.9 -3.2
Tuvalu -21.4 -18.7
Vanuatu -15.0 -11.0
Average 4.1 4.8

… = no data available.

Source: Asian Development Outlook 2016

 

 
This page was generated from http://www.adb.org/countries/fiji/economy on 30 June 2016