(SNA, real)  75 CY 19  20  21  22  Note: Figures for the Consumption Activity Index (CAI) are based on Bank staff calculations. The CAI figures (travel balance adjusted) exclude inbound tourism consumption and include outbound tourism consumption. The figure for 2022/Q3 is that for July. "Disposable income, etc."
•  When benchmarked against Pacific economies and selected Asian economies, Fiji can do much better  •  Factors that contribute to this lacklustre performance are: o  Smallness/isolation  o  Natural disasters  o  Loss of preferential access  o  Slow reforms  o  Low productivity and efficiency  o  Slow policy implementation  o  Political instability  •  Nevertheless, investment is growing  •  However, economic growth in recent years is being driven by consumption causing some imbalances: o  Strong consumption demand is feeding through to our imports  o  Unfortunately, at the same time our exports have not been performing well, thus widening our trade gap  o  Services account is growing and is providing some relief to these imbalances  o  However, it is still not enough to counter the increasing current account deficit and overall pressure on the balance of payments account  •  Expansionary fiscal policy has supported economic growth in past years  •  Inflow remains low  2.