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$955.6 million worth of goods around the globe in 2017. That dollar amount reflects a -13.8% decline since 2013 but a 3.2% increase from 2016 to 2017.

Based on estimates from the Central Intelligence Agency’s World Factbook, Fiji’s exported goods plus services represent 44.2% of total Fijian economic output or Gross Domestic Product. Please note that the overall value of exported goods and services includes a sizable share of re-exports. The analysis below focuses on exported products only.

From a continental perspective, 43.4% of Fijian exports by value were delivered to Australia, New Zealand and other Oceania importers. Another 22.7% worth was sold to customers in North America, with 19.5% going to Asia and 11.3% purchased by importers in Europe.

Given Fiji’s population of 920,938 people, its total $955.6 million in 2017 exports translates to roughly $1,000 for every person living in Fiji.

Fiji’s unemployment rate was 6.31% in 2017.

Fiji’s Top 10 Exports

Top 10

The following export product groups represent the highest dollar value in Fijian global shipments during 2017, at the 2-digit Harmonized Tariff System (HTS) code level. Also shown is the percentage share each export category represents in terms of overall exports from Fiji.

Drilling down to 4-digit HTS codes, Fiji’s most valuable exported goods are refined petroleum oils ($132.6 million), mineral or aerated waters ($118.5 million), frozen whole fish ($102.9 million), sugar ($95.1 million) then gold ($57.8 million).

  1. Mineral fuels including oil: US$134.5 million (14.1% of total exports)
  2. Fish: $133.6 million (14%)
  3. Beverages, spirits, vinegar: $123.6 million (12.9%)
  4. Sugar, sugar confectionery: $105.2 million (11%)
  5. Electrical machinery, equipment: $64.7 million (6.8%)
  6. Gems, precious metals: $63.9 million (6.7%)
  7. Clothing, accessories (not knit or crochet): $34.2 million (3.6%)
  8. Cereal/milk preparations: $27.7 million (2.9%)
  9. Articles of iron or steel: $18.4 million (1.9%)
  10. Machinery including computers: $16.8 million (1.8%)

Fiji’s top 10 exports accounted for about three-quarters (75.6%) of the overall value of its global shipments.

Sugar and sugar confectionery was the fastest-growing among the top 10 export categories, up by 101% from 2016 to 2017.

In second place for improving Fijian export sales was the electrical machinery and equipment category via a 53.8% rise.

Beverages, spirits and vinegar improved by 10.1% year over year led by mineral or aerated waters.

The most severe decline among the top 10 Fijian export categories was a -21.1% setback for mineral fuels including oil. That category was weighted down by slower international sales for refined petroleum oils.

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$104.3 million (Up by 13.3% since 2016)
  2. Sugar, sugar confectionery: $95.2 million (Up by 127.9%)
  3. Fish: $61.8 million (Up by 23.6%)
  4. Gems, precious metals: $51.7 million (Up by 4.8%)
  5. Cereal/milk preparations: $16.9 million (Down by -0.7%)
  6. Clothing, accessories (not knit or crochet): $13.1 million (Down by -35.7%)
  7. Milling products, malt, starches: $7.8 million (Down by -25.3%)
  8. Meat/seafood preparations: $6.0 million (Up by 54.6%)
  9. Tobacco, manufactured substitutes: $4.7 million (Up by 1,625%)
  10. Oil seeds: $3.4 million (Up by 3.7%)

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 -$1.5 billion trade deficit for 2017.

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. Mineral fuels including oil: -US$320 million (Up by 77.6% since 2016)
  2. Machinery including computers: -$228 million (Down by -4.5%)
  3. Vehicles: -$165.6 million (Down by -28.1%)
  4. Electrical machinery, equipment: -$122.4 million (Down by -5.4%)
  5. Plastics, plastic articles: -$92.5 million (Up by 1.1%)
  6. Cereals: -$63.9 million (Up by 0.2%)
  7. Iron, steel: -$52.4 million (Up by 8.4%)
  8. Articles of iron or steel: -$49.9 million (Up by 26.7%)
  9. Dairy, eggs, honey: -$44.2 million (Up by 10.1%)
  10. Paper, paper items: -$44.1 million (Up by 8.3%)

Fiji has highly negative net exports and therefore deep international trade deficits under the mineral fuels-related category, notably for refined petroleum oils.

Companies

Fijian Export Companies

Not one Fijian corporation ranks on the Forbes Global 2000 list.

Wikipedia lists exports-related companies from Fiji. Selected examples are shown below:

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









 
Fiji’s capital city is Suva.

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 23, 2018

Forbes 2016 Global 2000 rankings, The World’s Biggest Public Companies. Accessed on August 23, 2018

Global Companies, List of Companies in Fiji. Accessed on August 23, 2018

International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 23, 2018

International Trade Centre, Trade Map. Accessed on August 23, 2018

Investopedia, Net Exports Definition. Accessed on August 23, 2018

The World Factbook, Australia-Oceania: Fiji. Accessed on August 23, 2018

Wikipedia, Fiji. Accessed on August 23, 2018

World’s Capital Cities, Capital Facts for Suva, Fiji. Accessed on August 23, 2018