At the beginning of the fourth quarter of 2013, figures show that Fiji’s prospects and performance in almost all sectors remains upbeat.
In its monthly review, the Reserve Bank of Fiji says sentiments and feedback on investor confidence and optimism received from organisations during the boards recent industry visit to the West and various in-house meetings remained upbeat.
According to the review, the sugar industry remains buoyant.
“Total sugar cane crushed up to 29 September 2013 was 1.15 million tonnes, almost 12 per cent higher than the same period last year.”
“As a result of the improved cane supply and milling efficiency, the volume of sugar produced totalled 126,112 tonnes, nearly 17 per cent higher than the same period last year,” the monthly analysis said.
Consumer confidence continues with new lending for consumption purposes having more than doubled in first eight months of this year to $336.2m, o $336.2 million, while the number of new vehicles sold rose by 46 per cent.
On the job front, the RBF Job Advertisement Survey, labour market conditions have shown further signs of improvement.
“The number of vacant positions advertised cumulative to August, noted an annual increase of 11.5 percent, mostly led by the wholesale and retail trade, tourism, community, social and personal services and the construction sectors.”
Consumer confidence is further supported by encouraging labour market conditions and continued inward remittances which registered a year-on-year growth of 4.9 percent cumulative to July, the review states.
The central banks twin objectives of a comfortable inflation rate and foreign reserves is on track with annual inflation at 2.5 per cent and reserves at $1.83 billion which is sufficient to cover 5.1 months of retained imports of goods and non-factor services.
-ENDS-