Fiji’s labour market conditions have improved, with wages paid surpassing 2019 levels.
The Reserve Bank of Fiji in its latest economic review says this is possibly due to wage bargaining amid labour migration.
The central bank says in addition, the strong growth in Job advertisements in the year to August suggests strong demand for labour.
Meanwhile Fiji’s trade deficit increased by 3.4 per cent to $2,067.8 million in June as imports outpaced exports.
Imports grew by 8.4 per cent to $3,137.4 million led by the mineral fuels, machinery & transport equipment, and miscellaneous manufactured goods categories while exports expanded by 19.5 per cent to $1,069.6 million owing to the sugar, mineral water, and re-exports of mineral fuels categories.
Tourism earnings cumulative to June surpassed the billion dollar mark which was an increase of 125.0 per cent from the previous year and 12.3 per cent higher than pre-pandemic earnings, largely due to the growth in visitor arrivals and higher spending levels.
The inflation outlook for year-end is now around 6.0 per cent from the 2.8 per cent expected before the national budget.
This upward revision stems from higher duties and taxes announced in the national budget and the recent rebound in global crude oil prices.
