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Vanuatu Economy 2011
https://theodora.com/wfb2011/vanuatu/vanuatu_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Vanuatu Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 11, 2011

Economy - overview:
This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for about two-thirds of the population. Fishing, offshore financial services, and tourism, with nearly 197,000 visitors in 2008, are 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. Economic development is hindered by dependence on relatively few commodity exports, vulnerability to natural disasters, and long distances from main markets and between constituent islands. In response to foreign concerns, the government has promised to tighten regulation of its offshore financial center. In mid-2002, the government stepped up efforts to boost tourism through improved air connections, resort development, and cruise ship facilities. Agriculture, especially livestock farming, is a second target for growth. Australia and New Zealand are the main suppliers of tourists and foreign aid.

GDP (purchasing power parity):
$1.216 billion (2010 est.)
country comparison to the world: 197

$1.168 billion (2009 est.)
$1.126 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$721 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.1% (2010 est.)
country comparison to the world: 78

3.8% (2009 est.)
6.6% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$5,500 (2010 est.)
country comparison to the world: 141

$5,300 (2009 est.)
$5,200 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 26%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 12%
[see also: GDP - composition by sector - industry country ranks ]
services: 62% (2000 est.)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
115,900 (2007)
country comparison to the world: 181
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 65%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 5%
[see also: Labor force - by occupation - industry country ranks ]
services: 30% (2000 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
1.7% (1999)
country comparison to the world: 9
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $78.7 million
[see also: Budget - revenues country ranks ]
expenditures: $72.23 million (2005 est.)
[see also: Budget - expenditures country ranks ]

Inflation rate (consumer prices):
3.9% (2007 est.)
country comparison to the world: 113
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6% (31 December 2009)
country comparison to the world: 77

6% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
5.5% (31 December 2009 est.)
country comparison to the world: 149

5.29% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$229.2 million (31 December 2009)

$177.7 million (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$614.2 million (31 December 2009)

$531.6 million (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$274 million (31 December 2008 est.)
country comparison to the world: 171

$229.5 million (31 December 2007 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

Agriculture - products:
copra, coconuts, cocoa, coffee, taro, yams, fruits, vegetables; beef; fish

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

Electricity - production:
42 million kWh (2007 est.)
country comparison to the world: 201
[see also: Electricity - production country ranks ]

Electricity - consumption:
39.06 million kWh (2007 est.)
country comparison to the world: 201
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 123
[see also: Oil - production country ranks ]

Oil - consumption:
1,000 bbl/day (2009 est.)
country comparison to the world: 192
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 167
[see also: Oil - exports country ranks ]

Oil - imports:
654 bbl/day (2007 est.)
country comparison to the world: 194
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 108
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 114
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 165
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 103
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 117
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 122
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$60 million (2007 est.)
country comparison to the world: 70
[see also: Current account balance country ranks ]

Exports:
$40 million (2006)
country comparison to the world: 201
[see also: Exports country ranks ]

Exports - commodities:
copra, beef, cocoa, timber, kava, coffee

Exports - partners:
Thailand 53.15%, Japan 12.22%, Poland 11.78% (2009)

Imports:
$156 million (2006)
country comparison to the world: 204
[see also: Imports country ranks ]

Imports - commodities:
machinery and equipment, foodstuffs, fuels

Imports - partners:
Japan 17.3%, Australia 13.46%, China 12.26%, Singapore 12%, NZ 6.88%, Poland 6.61%, France 5.86%, Fiji 5.52% (2009)

Reserves of foreign exchange and gold:
$40.54 million (2003)
country comparison to the world: 133
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$81.2 million (2004)
country comparison to the world: 182
[see also: Debt - external country ranks ]

Exchange rates:
vatu (VUV) per US dollar - 97.93 (2009), NA (2007), 111.93 (2006), NA (2005), 111.79 (2004), 122.19 (2003)


NOTE: The information regarding Vanuatu on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 2011 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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