Fiji
Economy

Endowed with forest, mineral, and fish resources, Fiji is one of the most developed of the Pacific island economies, though still with a large subsistence sector. Some progress was experienced by this sector when Marion M. Ganey introduced credit unions to the islands in the 1950s. Natural resources include timber, fish, gold, copper, offshore oil, and hydropower. Fiji experienced a period of rapid growth in the 1960s and 1970s but stagnated in the 1980s. The coups of 1987 caused further contraction.

Economic liberalisation in the years following the coups created a boom in the garment industry and a steady growth rate despite growing uncertainty regarding land tenure in the sugar industry. The expiration of leases for sugar cane farmers (along with reduced farm and factory efficiency) has led to a decline in sugar production despite subsidies for sugar provided by the EU. Fiji's gold mining industry is based in Vatukoula.

Urbanisation and expansion in the service sector have contributed to recent GDP growth. Sugar exports and a rapidly growing tourist industry – with tourists numbering 430,800 in 2003 and increasing in the subsequent years – are the major sources of foreign exchange. Fiji is highly dependent on tourism for revenue. Sugar processing makes up one-third of industrial activity. Long-term problems include low investment and uncertain property rights.

The South Pacific Stock Exchange (SPSE) is the only licensed securities exchange in Fiji and is based in Suva. Its vision is to become a regional exchange.
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