29 Jan 2014

Fiji records massive October trade deficit

2:12 pm on 29 January 2014

Fiji's trade deficit recorded 115 million US dollars for the month of October last year compared to a month earlier.

This is the estimated amount by which the cost of a country's imports exceeds the value of its exports which was released by the Fiji Bureau of Statistics.

A government statistician, Epeli Waqavonovono, says the value of goods imported was at 235 million US while total exports was 119 million US.

He told the Fiji Times that compared to the corresponding month, imports increased by 62 million US while total exports decreased by 2.2 million US.

According to the import commodities, mineral products topped the lists for Fiji's import.

This was followed by machinery, and the import of vehicles and aircraft.

According to Mr Waqavonovono, there was an increase in the import of machinery because of increased imports of telephones for cellular networks or for other wireless networks.

Fiji's major domestic export destinations were Australia, United States of America, New Zealand, Hong Kong and China.