Fiji Times Online

Fiji Time: 3:51 AM on Friday 3 September

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Trade deficit at $109m

ROBERT MATAU
Monday, November 19, 2007

FIJI continued to import $220.3million compared to $85.9million in exports for the month of September, the Bureau of Statistics revealed last week.

The Bureau stated that imports decreased by $55million while domestic exports increased by $30.8million, bringing the trade deficit to $109.4million.

Imports from Singapore decreased by $41.1million to $65.6million because of decreased imports of light oil, aviation turbine oil and diesel oil.

Imports from Australia decreased by $3.8million to $52.7million because of lower imports of wheat, meslin, husked brown rice, spare parts and accessories. Fiji Employers Federation executive Ken Roberts said this showed people were spending more than they earned.

Mr Roberts said hopefully during the Budget announcement this week the interim Government could do something spectacular to boost export measures that would help them gain foreign exchange needed to boost our coffers.

He said the fiscal structure could be changed in such a way that goods made locally were more attractive to people to buy.

"This would mean people would now buy good made locally compared to goods made overseas.

"That way, the dollar would circulate in our own community as it would mean that people can pay electricity and water bills and their Fiji National Provident Fund contribution. But if we write a cheque for imported goods, the money goes to someone else's workforce and leaves the country."

Mr Roberts said Fiji had two flour mills, four processors which produced soap, two or three cardboard manufacturers, tomato sauce and tinned food canneries and local products were pretty good.

"If we increase the demand we will have more jobs available for local people," he said.

Exports to the UK increased by $24.5million to $25.1million because of the increased exports of sugar while the US increased by $6.3million to $16.5million due to increased exports of mineral water.

Fiji Water is one of the most popular and marketed products in the US with a number of movies featuring the product.

ANZ
Currency Inward TT Buying Rate Sell Rate
GBP3-week history 0.33930.3313
CAD3-week history 0.55450.5325
EUR3-week history 0.41050.3985
JPY3-week history 45.200042.2000
NZD3-week history 0.74310.7101
AUD3-week history 0.58050.5555
USD3-week history 0.52670.5097

from

$00.00

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