The major economic fallouts for us are: •  Lower demand on our exports as recession begins in many of our major trading partners like the US, Europe and Japan. We export about 19 percent of our total exports to the US and Japan. Our exports to the US are mainly water and garments and to Japan it is mainly fish.
The demand for these commodities may be affected by the recession in these two countries. Our export to Europe is mainly sugar but that is covered under the EU trade agreement and will not be affected. Our exports to Australia and New Zealand will also be dearer as the Fiji dollar appreciates against their currencies. This will dampen our competitiveness in these markets.