Fiji’s trade deficit (excluding aircraft) narrowed by 4.9 per cent to $1,089.9million in the year to June 2021 when compared to the corresponding period in 2020.

The Reserve Bank of Fiji (RBF) reported this in its September-end economic review, largely attributed to a growth in exports, particularly domestic exports, while imports declined.

“The growth in domestic exports was largely driven by increases in mineral water, other food and live animals, other crude materials and woodchips,” the RBF said.

The central bank also reported increased inward remittances, including mobile money transfers, that rose by 18.7 per cent to total $529.3million in the year to August, compared to an 8.4 per cent growth ($445.8m) in the corresponding period in 2020.

“Larger inflows from personal transfers underpin the annual increase in inward remittances.

“Notably, funds transferred through the mobile money platform totalled $102.7million in the first eight months of this year.”