Fiji as a transitional society

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Fiji as a transitional society

By | March 2013
Page 1 of 16
Economy of Fiji
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Endowed with forest, mineral, and fish resources, Fiji is one of the most developed of the Pacific island economies, though it remains a developing country with a large subsistence agriculture sectorTemplate:Https://www.cia.gov/library/publications/the-world-factbook/geos/fj.html. Agriculture accounts for 18% of Gross Domestic Product, although it employs some 70% of the workforce as of 2001. Sugar exports and a growing tourist industry are the major sources of foreign exchange. Sugar cane processing makes up one-third of industrial activity; coconuts, ginger, and copra are also significant. Fiji Village quoted Energy Minister Lekh Ram Vayeshnoi on 22 September 2006 as confirming that the Southern Cross Management Company Limited had applied for a license to drill for petroleum in Fiji's waters. The application was later revoked after exploratory reports indicated that Fijian oil reserves were severely overstated. Accepted scientific estimates now range between 500 - 600 million barrels of Brent Crude oil, with a total market value of approximately $4.7 billion over 20 years. The country's tallest building is the 14-story Reserve Bank of Fiji Building in Suva. Fiji is a member of the WTO.

|Contents | |1 Development plan | |2 Tourism | |3 Trade | |4 Investment | |5 Economic problems | |5.1 Emigration | |5.2 Property laws and investment problems |...