Economic Development of an Island Country

The mining sector of Fiji contributed 3% to the GDP, virtually all of it from gold, the only metallic mineral recovered in Fiji in 2001. Gold was the third-leading export commodity in 2002, generating 6% of Fiji’s foreign exchange.

In 2001, Fiji also produced crushed and dimension stone, sand and gravel, and sand for cement manufacture. No silver was mined in 2001; 1,475 kg was mined in 2000 and 2,594 in 1997. In addition to resources at existing sites, 930 million tons of copper (in Viti Levu) and gold reserves have been reported, and prospecting continued for oil and s, and at base-metal sulfide deposits, disseminated porphyry copper deposits, epithermal precious-metal deposits, residual bauxite deposits, and manganese and heavy-mineral sand deposits that have previously been identified and evaluated. None has been shown to have sufficient tonnage to be economically viable. Ownership of minerals was vested in the state, which granted mining and prospecting rights.

Fiji’s industry

Fiji’s industry is based primarily on processing of agricultural products, mainly sugarcane and coconut, and on mining and processing of gold and silver. Other major product groups are processed foods, and garments. In 2001 sugar production fell 14% to 293,000 cubic tons, well short of previous norms of close to 350,000 cubic tons. The government ascribes problems with sugar production to expiring land leases, poor mill performance, high incidence of cane burning, and cane transportation problems. Years of underinvestment in farms, sugar mills and power, water, and transportation infrastructure have resulted in declining quality as well as quantity. In February 2003 the Japanese rejected a shipment of Fiji sugar because of poor quality.

The gold industry suffered due to low world market prices (below $300 oz.) prevailing from late 1998 to mid-2002, but faces better prospects in the sharp rise to over $370 oz. in early 2003. Gold production is concentrated in the 66-year-old Vatukoula mine operated by Emperor Mines, which calculates that the mine will last another 10 or 15 year.

Overall, the value of merchandise trade declined about 9% in 2001, and is not expected to surpass the $557 million of 1997 or even the $532 million of 1999 until 2003. Tourism receipts were $228.9 million in 2001, an improvement on 2000, but still constrained by post-coup political uncertainties. Expensive power, lack of trained labor, and the limited local market have also inhibited industrial production. Overall, the value of manufacturing in Fiji, which had declined 6.2% in 2000, increased an estimated 11.5% in 2001, but is projected, by the IMF, to have increased only 1.5% in 2002, with non-sugar manufacturing down .9% in value.

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