15/04/2022
Fishing, long the traditional base of the economy, has been far surpassed by tourism as the main source of gross domestic product (GDP). While the sector still produces the bulk of the country’s exports and continues to grow (albeit at a slower pace than the tourism industry), it employs less than one-fifth of the labour force and contributes less than one-tenth of the GDP. Tuna is the predominant fish caught, traditionally by the pole-and-line method, although a good deal of the fishing fleet has been mechanized. Most of the fish catch is sold to foreign companies for processing and export.
Although formal businesses have seen rapid growth in the country, especially on the main islands, much of the population subsists outside the money economy on fishing, coconut collecting, and the growing of vegetables and melons, roots and tubers (cassava, sweet potatoes, and yams), and tropical fruits. Cropland, scattered over many small islands, is minimal, and nearly all the staple foods must be imported.