Remittances rise by 18.7% to total $529.3 million in the year to August – RBF
Latest sectoral data continues to show mixed outcomes, with resource-based sectors performing relatively well

Remittances rise by 18.7% to total $529.3 million in the year to August – RBF

Latest sectoral data continues to show mixed outcomes, with resource-based sectors performing relatively well

By Vijay Narayan
Tuesday 05/10/2021
Reserve Bank of Fiji. [image: File Photo]

The Reserve Bank of Fiji says remittances, including mobile money transfers, rose by 18.7 percent to total $529.3 million in the year to August.

This is compared to an 8.4 percent growth of $445.8 million in the corresponding period in 2020.

The RBF says larger inflows from personal transfers from overseas to people in Fiji underpin the annual increase in inward remittances.

Funds transferred through the mobile money platform totalled $102.7 million in the first eight months of this year.

Meanwhile the RBF says the relaxation of COVID restrictions yesterday together with plans to reopen Fiji’s international borders in November, is expected to provide much-needed support to the domestic economy in the upcoming months.

It says latest sectoral data also continue to show mixed outcomes, with resource-based sectors performing relatively well.

Output in the timber industry remained strong, evident in the annual growth in pine logs by 88.7 percent, woodchips by 75.1 percent, and mahogany production by 91.8 percent cumulative to August, while a temporarily inoperable sawmill affected sawn timber production by 11.1 percent in the same period.

The RBF says improved efficiency also underpinned the annually higher production of gold by 12.2 percent and sugar by 0.7 percent.

FEATURE NEWS
Kiran calls for expanded legal outreach to rural communities
Legal officials have been urged to consider expanding their outreach efforts to rural areas, where educating rural populations on legal matters such a...
4 hours ago
LATEST NEWS
Pacific Recycling Foundation condemns Police repression of Argentine Waste Pickers' peaceful protest
The Pacific Recycling Foundation has strongly condemned and stands in strong solidarity with the International Alliance of Waste Pickers regarding ...
2 hours ago

Cabinet approves framework for sustainable township development
The Cabinet has approved the development of a National Blue Town Framework for sustainable township development, including rural and regional areas ...
2 hours ago

Fiji Methodist Church celebrates 60 years of independence and 189 years of faith
Members of the Methodist Church in Fiji celebrated their 60th year of independence after splitting from the Australasia Methodist Church in ...
3 hours ago

Cabinet approves purchase of 14 PMV vehicles for peacekeeping missions
Cabinet has approved the execution of a Memorandum of Sale with the Australian Government for the acquisition of fourteen Protected Mobility Vehicles ...
4 hours ago

Taylor Swift grabs royal selfie at London gig
Taylor Swift grabbed a perfect royal selfie ahead of her Wembley gig - posing with the Prince of Wales and two young music fans, Prince George and ...
5 hours ago



fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
yb
IN DEPTH
RFNS Puamau submergence on Fulaga Reef
No timeline has been given on how long the salvage operations for the RFNS Puamau will take as the Fiji Navy has started the de-fuelling process in Fulaga in a bid to safely salvage the vessel from the reef.
4 days ago

Crisis within FijiFirst relating to the termination of 17 MPs who voted for salary increases
A crisis has erupted within the FijiFirst party relating to the termination of 17 members of parliament who supported the government's motion to ...
9 days ago

Pre-Budget 2024-2025
Pre Budget 2024-2025 budget recommendations and an insight of what people on the ground wish to see in the National Budget
11 days ago

TOP