Poor performances across our major sectors, coupled with a weak labour market, the increasing trade imbalance and restrained domestic activity, continues to be highlighted in the Reserve Bank of Fiji's economic review for the month of October.

The RBF has revealed that poor performances were recorded for the sugar and gold industry and there was weak electricity production in October.

It said the labour market conditions are relatively weaker than last year and newly registered taxpayers declined by 10% cumulative to October, while the Job Advertisement survey indicated that hiring intentions remained positive in most sectors, but this is a result of the higher incidence of migrating workers rather than new job creations.

There are indications that investment conditions remain sluggish however on a positive note, both new and outstanding lending for investment purposes have shown significant growth.

The trade imbalance continues, as, while exports rose by 22% in October led by improved earnings from sugar, fish, timber, gold, mineral water, re-exports and other domestic exports, imports also grew by 26% across all categories.

There is some relief for consumers, as after recording a 20 year high at 9.8% in September, inflation levels plunged to 8.5% and is expected to finish at around 7.5% by year's end. Foreign Reserves stood at $861 million by October end, sufficient to cover 3.2 months of the import of goods.