Fiji Time: 9:35 PM on Tuesday 28 June

Fiji Times Logo

/ Front page / News

Trade deficit

Geraldine Panapasa
Monday, January 06, 2014

FIJI'S merchandise trade deficit widened by 29.5 per cent to $1.805billion in the year to September 2013 when compared with the same period in 2012.

In its economic review for the month ending December 2013, the central bank said domestic export earnings fell by 7.7 per cent mainly led by gold, sugar and other domestic exports which more than offset the increases in fish, garments, flour, fruit and vegetables.

"Including re-exports, total export earnings (excluding aircraft) fell by 10.1 per cent while import repayments (excluding aircraft) rose by 8.6 per cent," the Reserve Bank of Fiji said.

"Retained imports, an indicator of domestic demand, surged by 18.2 per cent in the same period, supporting growth in consumption activity."

It said foreign reserves continued to be at comfortable levels and stood at about $1.789b as of December 30.

This, it said, was sufficient to cover 4.9 months of retained imports of goods and non-factor services.

In terms of liquidity in the banking system, RBF said this rose over the month to November 2013 by 7.3 per cent ($49.8m) to $728.4m and led by an increase in foreign reserves of $83m.

"As of December 30, liquidity was about $635.5m. The Fiji dollar strengthened against the Australian dollar and the yen but weakened against the euro, US and New Zealand dollar over the month to November," it said.

On an annual basis, the central bank said the Fijian dollar rose against the yen by 17.5 per cent and the Australian dollar by 8.1 per cent but fell against the other currencies in the basket.








Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
CAD 0.63240.6134
JPY 50.054747.0547
GBP 0.36450.3565
EUR 0.43860.4266
NZD 0.69770.6647
AUD 0.66220.6372
USD 0.48560.4686

from

$0.00

Exchange Rate updated on 28th June 2016

Today's Most Read Stories

  1. Early morning catch wows crowd at Labasa fish market
  2. Body parts
  3. Vidiri to join Chiefs, Crusaders super game
  4. Laisa Simone, 16, is missing; police searching
  5. Police probe 'mistreatment'
  6. Fiji, choice for film
  7. New software to ease traffic
  8. Hotel reopens after TC Winston
  9. OHS report queried
  10. Bid for full membership

Top Stories this Week

  1. Hayne works on 'God's call' Friday (24 Jun)
  2. Police confirm discovery at Natadola beach Friday (24 Jun)
  3. 12 families homeless Wednesday (22 Jun)
  4. Resignation threat Saturday (25 Jun)
  5. Early morning catch wows crowd at Labasa fish market Tuesday (28 Jun)
  6. Rabuka in Saturday (25 Jun)
  7. 2016-2017 Budget: The major drivers of economic growth Thursday (23 Jun)
  8. INTERPOL assists with Natadola gruesome discovery, missing couple Monday (27 Jun)
  9. Police probe body parts find Saturday (25 Jun)
  10. Strive for gold Friday (24 Jun)