Economy Of Fiji
Endowed with forest, mineral, and fish resources, Fiji is one of the most developed of the Pacific island economies, though it remains a developing country with a large subsistence agriculture sectorTemplate:Https://www.cia.gov/library/publications/the-world-factbook/geos/fj.html. Agriculture accounts for 18% of Gross Domestic Product, although it employs some 70% of the workforce as of 2001. Sugar exports and a growing tourist industry are the major sources of foreign exchange. Sugar cane processing makes up one-third of industrial activity; coconuts, ginger, and copra are also significant.
Fiji Village quoted Energy Minister Lekh Ram Vayeshnoi on 22 September 2006 as confirming that the Southern Cross Management Company Limited had applied for a license to drill for petroleum in Fiji's waters. The application was later revoked after exploratory reports indicated that Fijian oil reserves were severely overstated. Accepted scientific estimates now range between 500 - 600 million barrels of Brent Crude oil, with a total market value of approximately $4.7 billion over 20 years.
The country's tallest building is the 14-story Reserve Bank of Fiji Building in Suva. Fiji is a member of the WTO.
Read more about Economy Of Fiji: Development Plan, Tourism, Trade, Investment, Economic Problems
Famous quotes containing the words economy of and/or economy:
“Unaware of the absurdity of it, we introduce our own petty household rules into the economy of the universe for which the life of generations, peoples, of entire planets, has no importance in relation to the general development.”
—Alexander Herzen (1812–1870)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)