Trade deficit improves
October 28, 2014 7:04 pm
Fiji’s trade deficit improved by $51 million in August this year thanks significant increases in exports and low imports.
Compared to August 2013, we exported $218 m worth of goods and services – up by $33m. While imports – at $435m only increased by $7m.
Fuel imports continue to be our biggest imports followed by machinery and mechanical appliances, however $80m was spent on wheat and meslin from Australia, an increase of 17.5%.
For the month of August 2014, the United Kingdom was our major export market, $37.2m worth of sugar was sold to the UK, while mineral water worth $31m was exported to the United States of America.
Exports to China increased a thousand fold – molasses sales raked in $8.9m compared to only $100,000 in the corresponding month in 2013.