[File Photo]

Fiji has recorded a substantial increase in imports so far this year.

According to the Reserve Bank of Fiji’s July Economic Review, Fiji’s trade position deteriorated further as the trade deficit widened cumulative to April with a 37.8 percent growth in imports, outpacing a moderate expansion in exports at 4.4 percent.

The substantial increase in imports was largely driven by the mineral fuel, machinery & transport equipment and food & live animals categories.

Cumulative to May, inward remittances rose by 16.7 percent to $387.6 million.

Inflationary pressures persisted in June with headline inflation reaching 5.1 percent primarily driven by higher food and energy prices.

Excluding food and in contrast to the global economy, the rebound in tourism is supporting the current domestic economic recovery.

Cumulative to June, tourist arrivals totaled 205,529, representing around 50 percent of visitor arrivals in the same period in 2019.

The majority of the tourists were from Australia, New Zealand and the US.

Other sectoral outputs have noted mixed movements and in the first half of the year, sugar, electricity, cement, mahogany, and sawn timber production recorded annual growth while gold and woodchip production fell.