The month of April this year recorded an increase in tourism by 22.7 percent on an annual basis says the Reserve Bank of Fiji.
In its economic review, the RBF states visitor arrivals continue to perform better than 2009 levels which are expected to improve in the peak month of tourism.
Gold production remains upbeat and electricity production have increased by 6.6percent on an annual basis. Furthermore, sugar cane crushing season starts in June and is expected to create more economic activity in the cane growers areas.
Investment is picking up which is reflected in the Business Expectations survey which suggest a strengthening in investor confidence. Responding areas like plant & machinery as well as buildings. Commercial banks lending for investment rose on an annual basis by 4.5percent cumulative to April.
However, growth in broad money fell in April from 13.3percent to 9.9percent in March. Domestic credit growth slowed to 3.9 percent in April from 5.4percent in the previous month while private sector expanded by 05pecent form 0.9 in March.
Similarly commercial bank lending declined by 0.2percent attributing to contraction in lending to public enterprises, professional & business ,agriculture, manufacturing, real estate and private individuals.
Lending rate fell by 7 basis point in the month of April to 7.51percent while it rose by 18basis points to 8.14percent.
Domestic exports earnings rose by 74.4percent compared to 41.8percent. This growth was contributed from fish,timber,gold,mineral water, sweet biscuits and garments.
Over the month of May Fiji dollar strengthened against Australian dollar by respectively. Euro and New Zealand by 4.6percent,2.9percent and 1.7percent, conversely the Fiji dollar fell against the Japanese Yen by 7.9percent and the US dollar by 4.7percent.
On a positive note the global economic recovery is continuing,with the International Monetary Fund forecasting 4.2percent growth this year.