Fiji Time: 8:53 PM on Sunday 21 January

Fiji Times Logo

/ Front page / Archives » Article Index

Consumption indictors remain upbeat

Filipe Naigulevu
Monday, November 06, 2017

FIRM consumption and investment activity continues to support aggregate demand as revealed by partial indicators noted by the central bank.

In its Economic Review for the month ended October, the Reserve Bank of Fiji stated that partial indicators for consumption remained upbeat with a pick-up noted in net value added tax collections, which grew by 13.7 per cent and pay as you earn (PAYE) collections which grew by 6.5 per cent cumulative to September.

New lending for consumption purposes also grew by 13.1 per cent to $707.7 million on an annual basis.

This was higher than the 11.1 percent growth recorded in the same period last year.

The central bank noted that demand for luxury goods also increased reflected in higher registrations for new vehicles (4.4 per cent increase) in the same period.

RBF in its quarterly review, stated that consumer spending also remained firm in the September quarter as revealed by partial indicators.

Cumulative to September of this year, new vehicle registrations by the Land Transport Authority grew annually by 4.4 per cent while second-hand vehicle registrations declined by 32.6 per cent in the same period.

The decrease in second hand vehicles was attributed to higher duties on the importation of second-hand hybrid vehicles.

Meanwhile, private sector credit expanded by 11.5 per cent in September as monetary conditions remains supportive of growth.

This was mostly driven by growth in new commercial bank loans (+8.9 per cent) to the electricity, gas and water; real estate; building and construction; wholesale, retail, hotels and restaurants; mining and quarrying and the central and local Government sectors.

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.62390.6049
JPY 56.369653.3696
GBP 0.36040.3524
EUR 0.41060.3986
NZD 0.69380.6608
AUD 0.63130.6063
USD 0.50390.4869



Exchange Rate updated on 19th, January, 2018

Today's Most Read Stories

  1. Back to work
  2. Do the right thing and resign: Biman
  3. Fiji not built on smiles and fake promises, says Bainimarama
  4. ATS seeks legal advice
  5. Justice prevails, says Rabuka
  6. Unsafe practice
  7. Tribunal ruling is a victory for workers, says Chaudhry
  8. Diving trip turns tragic
  9. Unsolved mystery of Baker's death - Part 2
  10. For a place in fashion festival

Top Stories this Week

  1. Trip turns tragic Thursday (18 Jan)
  2. Mela beats the odds Thursday (18 Jan)
  3. Tube ride to school Thursday (18 Jan)
  4. Nadi man dies in crash Wednesday (17 Jan)
  5. Teachers transfer policy Monday (15 Jan)
  6. Patient info leaked Friday (19 Jan)
  7. Man attacks partner Monday (15 Jan)
  8. ATS Impasse: Tribunal orders return of all workers in 48 hours Saturday (20 Jan)
  9. Rasta's 'star' loves Fijian hospitality Saturday (20 Jan)
  10. Serevi, Ryan believe Tuwai can deliver Saturday (20 Jan)