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News

2014 economic growth hits 5.3%

September 4, 2015 11:27 pm

Fiji’s longest running period of economic expansion has seen the economy break through the 5 per cent barrier.

The economy grew by 5.3 per cent in 2014, according to provisional figures on Gross Domestic Product (GDP) released by the Bureau of Statistics.

The biggest driver of growth was the transport sector and there were solid gains in the financial and insurance sector, public administration and defence, manufacturing and education.

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However, agriculture was down 2.4 per cent because of falling production of taro, yam and coconuts. And the mining sector recorded zero growth in 2014.

The figures were welcomed by the Attorney General and Minister of Finance, Aiyaz Sayed Khaiyum, who says breaking the five per cent mark is an important psychological boost.

Sayed-Khaiyum says Fijians could look forward to an even better performance this year, with increasing stability and confidence in Fiji’s future.

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