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Tuna Exports To Samoa Boost Fiji Economy

Reserve Bank of Fiji chief economist Jitendra Singh says fisheries’ earnings grew by 18 per cent during the first four months this year.

Mr. Singh said that this could be expected to increase with the devaluation of the Fiji dollar.
Figures provided by the Fiji Islands Bureau of Statistics showed exports earned $134 million last year.

Albacore made up 31 per cent of the total volume exported, while salmonidae was 15 per cent and Yellow Fin tuna was 19 per cent.

Major export destinations were American Samoa with 30 per cent of total exports, 25 per cent to Japan and 22 per cent to the United States.

“Devaluation of the Fijian dollar would make exports more attractive and it is forecast for exports to pick up in the coming months,” said Mr. Singh.

“But it will make the cost of imported inputs more expensive, for example, oil, which is difficult to control. Therefore we will have to minimize cost elsewhere,” Mr. Singh said.