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Over 90% drop in businesses revenue

 

Jul 31, 2021 11:32:25 AM

Over 90% drop in businesses revenue Over 90percent of businesses in the country have reported a decline in revenue due to the economic impact of coronavirus.

Of this 27percent were from the agriculture sector, 21percent were from the manufacturing industry, 19 per cent were from the retail trade and 18 from the tourism industry.

Pacific Trade Invest Australia commissioner Caleb Jarvis said more than half of the businesses in the country do not expect a return to business as usual until 2023 or later. 

 “As we fast approach the 18-month mark since borders first began to close, we look to the global community to provide the response needed to ensure the survival of many enterprises,” said Jarvis.

“The purpose of this data is to highlight quantifiable feedback on where assistance is most needed, such as access to finance, new markets, e-business opportunities and cheaper freight options,” he said.

He said the prolonged duration of the pandemic coupled with the resurgence of coronavirus cases in Fiji has taken an overwhelming toll on the business community. 

By Nacanieli Tuilevuka

 

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Covid-19 Update

 

Last updated 1st December 2021

New Cases


12

Active Cases


153

Recoveries


51,077

Deaths


697

 


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