Fiji’s Top 10 Exports

Fiji flag courtesy of FlagPictures.org

Fiji flag (FlagPictures.org)

An island country in the South Pacific Ocean northeast of New Zealand, Fiji shipped US$926.1 million worth of goods around the globe in 2016. That dollar amount results from a -24.1% decline since 2012 but a 3.5% uptick from 2015 to 2016.

Fiji’s top 10 exports accounted for almost three-quarters (73.7%) of the overall value of its global shipments.

Based on statistics from the International Monetary Fund’s World Economic Outlook Database, Fiji’s total Gross Domestic Product amounted to $8.374 billion in 2016 (on a purchasing power parity basis). Therefore, exports represent an estimated 11.1% of total Fijian economic output.

From a continental perspective, over half (roughly 52%) of Fijian exports by value were delivered to Australia, New Zealand and other Oceania importers while about 21% were sold to customers in North America. Fiji shipped another 17% worth of goods to Asia with some 7% going to Europe.

Given Fiji’s population of 915,303 people, its total $926.1 million in 2016 exports translates to roughly $1,000 for every resident in that country.

Trading Economics estimates Fiji’s unemployment rate to be 7.9% as of June 2017.

Fiji’s Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Fijian global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Fiji.

  1. Mineral fuels including oil: US$170.3 million (18.4% of total exports)
  2. Fish: $123.3 million (13.3%)
  3. Beverages, spirits, vinegar: $112.4 million (12.1%)
  4. Gems, precious metals: $63.2 million (6.8%)
  5. Sugar, sugar confectionery: $52.7 million (5.7%)
  6. Electrical machinery, equipment: $42.1 million (4.5%)
  7. Clothing, accessories (not knit or crochet): $38.2 million (4.1%)
  8. Wood: $31.2 million (3.4%)
  9. Cereal/milk preparations: $29.2 million (3.2%)
  10. Articles of iron or steel: $20.2 million (2.2%)

Electrical machinery and equipment was the fastest-growing among the top 10 export categories, up by 95.4% for the 5-year period starting in 2012.

In second place for improving export sales was the beverages, spirits and vinegar category which was up by 15.8% led by water not including added sweeteners or other ingredients.

The only other top Fijian export to post a gain in value was the articles of iron or steel category which rose by a modest 0.6%.

The leading decliner among the top 10 Fijian export categories was cereal and milk preparations which was down by -50.7%.

Advantages

The following types of Fijian product shipments represent positive net exports or a trade balance surplus. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports.

In a nutshell, net exports is the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.

  1. Beverages, spirits, vinegar: US$92.2 million (Up by 14% since 2012)
  2. Fish: $49.7 million (Up by 47.3%)
  3. Gems, precious metals: $49.4 million (Down by -26.6%)
  4. Sugar, sugar confectionery: $42.1 million (Down by -53.6%)
  5. Clothing, accessories (not knit or crochet): $20.3 million (Down by -23.9%)
  6. Cereal/milk preparations: $17 million (Down by -65.4%)
  7. Milling products, malt, starches: $10.5 million (Up by 25.8%)
  8. Wood: $5.5 million (Down by -82.7%)
  9. Meat/seafood preparations: $3.9 million (Down by -160.4%)
  10. Knit or crochet clothing, accessories: $3.2 million (Down by -51.6%)

Fiji has highly positive net exports in the international trade of waters including natural or artificial mineral waters plus aerated waters. In turn, these cashflows indicate Fiji’s strong competitive advantages under the beverages, spirits and vinegar category.

Opportunities

Overall, Fiji incurred a -$1.4 billion trade deficit for 2016.

Below are exports from Fiji that result in negative net exports or product trade balance deficits. These negative net exports reveal product categories where foreign spending on home country Fiji’s goods trail Fijian importer spending on foreign products.

  1. Machinery including computers: -US$238.5 million (Up by 39.4% since 2012)
  2. Vehicles : -$230.8 million (Up by 176.7%)
  3. Mineral fuels including oil: -$180.3 million (Down by -48.2%)
  4. Electrical machinery, equipment: -$129.3 million (Up by 30.7%)
  5. Plastics, plastic articles: -$91.4 million (Up by 29.5%)
  6. Cereals: -$63.8 million (Down by -20.4%)
  7. Iron, steel: -$48.4 million (Up by 101.2%)
  8. Paper, paper items: -$40.7 million (Up by 11.3%)
  9. Dairy, eggs, honey: -$40.2 million (Up by 15.7%)
  10. Articles of iron or steel: -$39.4 million (Up by 103.6%)

Fiji has highly negative net exports and therefore deep international trade deficits under the machinery including computers category.

Companies

Fijian Export Companies

Not one Fijian corporation ranks among Forbes Global 2000 for 2016.

Information portal Global Companies lists exports-related businesses in Fiji. Selected examples are shown below:

  • Nelesh Kamal Co (kava)
  • Scud Timber (Fiji) Ltd (sandalwood)
  • Dominion Fashions Limited (clothing)
  • Popular Furniture Limited (home furniture)
  • Falani Marketing Fiji Ltd (agricultural produce, fish)
  • Krishna Export Handicraft (wood handicraft)
  • Fiji Recyclers (recycled tires)
  • Organic Earth Fiji (skin care products)










 
Fiji’s capital city is Suva.

Please note that the results listed above are at the 2-digit Harmonized Tariff System code level.

See also Australia’s Top 10 Exports, New Zealand’s Top 10 Exports and Top Oceanian Export Countries

Research Sources:
FlagPictures.org, Flag of Fiji. Accessed on August 31, 2017

Forbes 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 31, 2017

Global Companies, List of Companies in Fiji. Accessed on August 31, 2017

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 31, 2017

International Trade Centre, Trade Map. Accessed on August 31, 2017

Investopedia, Net Exports Definition. Accessed on August 31, 2017

The World Factbook, Australia-Oceania: Fiji. Accessed on August 31, 2017

Wikipedia, Fiji. Accessed on August 31, 2017

World’s Capital Cities, Capital Facts for Suva, Fiji. Accessed on August 31, 2017