Fiji has reported a significant increase in its spice exports, particularly ginger, turmeric, and other spices, to the United States. In 2023, the country exported $28.7 million worth of these products, reflecting a 1% rise from the previous year, as highlighted in the recent ‘Westpac Wave’ economic update by Westpac Fiji’s senior economist, Shamal Chand. Notably, exports to the U.S. have become crucial, with a dramatic increase observed during 2020 when exports surged by nearly 150%. This escalation peaked at $30.1 million in 2021 before experiencing a decline in 2022.
Chand emphasized the importance of diversifying export markets, mentioning that Fiji’s exports to New Zealand and Australia were valued at approximately $1.39 million and $1.37 million, respectively, in 2024. He indicated that there is considerable potential to expand opportunities in the Asia-Pacific region by leveraging Fiji’s strong relationship with Australia.
Furthermore, Fiji’s gold exports have shown remarkable growth as well, surging by 72% in 2024 to reach $168.1 million. This expansion was fueled by increased production and favorable global gold prices. Chand expressed optimism about future gold export potentials despite a currently anticipated drop in production due to maintenance work at mining sites.
The growth in both spice and gold exports underscores Fiji’s commitment to enhancing its export capacity and exploring new markets, which could ultimately lead to more sustainable economic opportunities for its farmers and communities.
This development is indeed hopeful, showcasing Fiji’s potential to harness its agricultural resources while promising economic resilience amidst global market challenges.
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