WELLINGTON: Being the primary fossil fuel source for Fiji, Singapore accounted for the largest share of import with $831 million or 19 per cent. Investment Fiji CEO Godo Muller-Teut said this represented a significant drop to the $1.4 billion recorded during 2014 and was primarily based on the reduction in fuel prices as well as lower levels of fuel re-export.
Mr Muller-Teut said China witnessed a growth to $743m or 17 per cent while Australia accounted for $671.5m of imports or 15 per cent of total and New Zealand for $623.5m. He said Australia and New Zealand have always been considered key trading partners of Fiji.
“Imports from Australia have shown a fluctuation from $740.4m in 2012, to $706.3m in 2013 and increase in 2014 to $713m while dropping to $671.5m in 2015,” he said. He said last year, machinery and mechanical appliances contributed to 23 per cent or $155m, followed by vegetable products at 19 per cent or $129m, prepared foodstuffs and chemical products at 8 per cent respectively.
For New Zealand, he said imports increased from $558 in 2012, to $634m in 2013, increasing to $858m in 2014 while dropping back to $623.5m in 2015. In 2015, he said machinery and mechanical appliances contributed $171.6m, followed by live animals at $84.3m. Base metals and articles of base metals accounted for $69.5m.
Similarities between imports from Australia and New Zealand, he said were very clear with machinery and food and beverages as base metals dominating imports. During 2015, he said Fiji’s total exports equated to $1.87b, of which $1.1b were domestic exports, classified as products originating from Fiji.
“Our top export partners are the United States, Australia, the United Kingdom, China, New Zealand, Vanuatu and Japan.” Fuelled by mineral water sales, he stated that export to the United States reached $275m, while export to United Kingdom primarily concerned sugarcane destined for the European Union.
Mr Muller-Teut said Australia contributed 36 per cent ($248.4m) and New Zealand contributed 15 per cent ($58.6m). According to him, domestic export to Australia declined from $285m in 2012, to $247 in 2013, and $228m in 2014 but recovered in 2015 to $248.4m.
In 2015, he said that approximately 80 per cent of the $248.5m exported concerned two commodities — precious stones, metals and pearls (40 per cent or just over $100m), followed by textiles and textiles articles (38 per cent or $94m). He added that food and beverage related exports, primarily prepared foodstuffs ($18.4m) and vegetable products ($16.5m) accounted for a combined $35m or 14 per cent of total.
Domestic export to New Zealand, he said declined from $70m in 2012, to $69m in 2013 and $62.3m in 2014 dropping to $58.6m in 2015. “In 2015 a total 33 per cent of exports to New Zealand valued at $19.5m were vegetable products, followed by textile and textile articles 21.62 per cent or $12.7m and prepared food stuff at $12m. “Food and beverages related exports accounted for a combined $34.7m or 60 per cent of total.”
He said the export footprint from Fiji to Australia is primarily driven by precious stones, metals, pearls and textile products whilst export to New Zealand were first and foremost food and beverages related. “It is, however interesting to note that food and beverages exports to both Australia and New Zealand are similar by value at around $35m.” From the $1.87b total exports, he said $752m or 40 per cent were re-export.
