SUVA, March 1 (Xinhua) -- Consumption and investment activity in Fiji with a population of around 900,000 is showing a firm recovery, said Fiji's central bank on Wednesday.
The Reserve Bank of Fiji (RBF) said in its February review that a retail sales survey in December last year projected that retail trade will grow by 6.4 percent in 2023, local media reported.
According to the bank, investment has been picking up at a moderate pace.
The central bank said that labor market conditions continued to improve in January, with Pay As You Earn tax collections increasing by 17.2 percent, indicating higher formal employment.
It said that vacancies advertised for job opportunities in Fiji also rose by 59.3 percent, noting higher recruitment intentions across a majority of job categories.
According to RBF statistics, the central bank's foreign reserves are at a comfortable level at around 3.4 billion Fijian dollars (1.54 billion U.S. dollars) and is projected to remain this way in the near to medium term.
The RBF said that growth in imports stood at 60.5 percent, far outpacing that of exports at 29.7 percent.
Fiji's economic growth last year is estimated to have climbed to 15 percent following a 4.1 percent decline in 2021. ■