Overview: The economy is based primarily on subsistence farming which provides a living for about 80% of the population. Fishing and tourism are the other mainstays of the economy. Mineral deposits are negligible; the country has no known petroleum deposits. A small light industry sector caters to the local market. Tax revenues come mainly from import duties.

National product: GDP - exchange rate conversion - $142 million (1988 est.)

National product real growth rate: 6% (1991)

National product per capita: $1,050 (1990)

Inflation rate (consumer prices): 2.3% (1992 est.)

Unemployment rate: NA%

Budget:
revenues: $90 million
expenditures: $103 million, including capital expenditures of $45 million (1989 est.)

Exports: $14.9 million (f.o.b., 1991)
commodities: copra, beef, cocoa, timber, coffee
partners: Netherlands, Japan, France, New Caledonia, Belgium

Imports: $74 million (f.o.b., 1991)
commodities: machines and vehicles, food and beverages, basic manufactures, raw materials and fuels, chemicals
partners: Australia 36%, Japan 13%, NZ 10%, France 8%, Fiji 8%

External debt: $38 million (1991)

Industrial production: growth rate 8.1% (1990); accounts for about 10% of GDP

Electricity:
capacity: 17,000 kW
production: 30 million kWh
consumption per capita: 180 kWh (1990)

Industries: food and fish freezing, wood processing, meat canning

Agriculture: accounts for 40% of GDP; export crops - coconuts, cocoa, coffee, fish; subsistence crops - taro, yams, coconuts, fruits, vegetables

Economic aid:
recipient: Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $606 million

Currency: 1 vatu (VT) = 100 centimes
Exchange rates: vatu (VT) per US$1 - 123.48 (September 1993), 113.39 (1992), 111.68 (1991), 116.57 (1990), 116.04 (1989)

Fiscal year: calendar year

NOTE: The information regarding Vanuatu on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 1995 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 1995 should be addressed to the CIA.