The global economy is recovering.

This has been confirmed by the International Monetary Fund through the Reserve Bank of Fiji, who said the IMF's allocation of Special Drawings Rights (SDR) of a total of US$250 billion to its member countries in August and September, will assist this recovery.

For Fiji, the Reserve Bank said domestic exports fell by 13% in the first seven months of this year adding this is due to lower earnings from sugar, mineral water, timber, garments, uncooked pasta, flour, fruits and vegetables.

The bank also said the decline in total exports was larger at around 18%, due to lower receipts from re-exports of mineral fuels adding imports also fell during the same period, led mainly by lower mineral fuel payments.

However, on a positive note, the Bank said all major trading partners, Australia and New Zealand, are expected to grow next year.