Minister for Trade, Faiyaz Koya. [Source: Parliament of Fiji/ Facebook]
Fiji’s international trade plunged in 2020 due to the pandemic, but recovered last year.
Minister for Trade, Faiyaz Koya says despite recovery being below pre-pandemic levels, some commodities excelled.
Fiji exported $1.85 billion worth of goods last year, a 3.2 percent increase over 2020.
Turmeric export increased by 254 percent compared to 2019.
Koya says trade in several products, such as fuel, aircraft, cars, and machines, took a nosedive globally. However, medical protective equipment, pharmaceutical products, home appliances, and electronics, increased.
“It is important to understand that the impact of trade on specific goods, sectors, and even among respective countries is highly diverse. Fiji’s domestic exports have shown an increase of 10 percent compared to 2020 and 7 percent compared to 2019, which was a pre-pandemic period. We acknowledge that this is below pre-pandemic levels, but this is understandable.”
The Ministry is working with key trade partners, development agencies, and international organizations to develop capacity, address non-tariff barriers, diversification, and simplify business processes to stimulate export growth.