Economy of Vanuatu
Population: 0.29 M (2018)
GDP per Capita: 3,124 USD (2018)
910 M.

GDP USD

(2018)

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400 M.

EXPORTS USD

(2014)

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400 M.

IMPORTS USD

(2014)

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52.09 %

PUBLIC DEBT

(2017)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 3.20 % (2018)
GDP of 2010 USD USD 0.80 B. (2018)
GDP Current USD USD 0.91 B. (2018)
GDP per Capita Current USD USD 3,124 (2018)
GDP per capita, PPP USD 2,858 (2018)
GDP per Capita, 2010 USD USD 2,875 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 14.93 % (2014)
Government Spending USD 0.12 B. (2014)
Government Debt % GDP 52.09 % (2017)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 87.53 (2018)
Trade Openness 97.95 % (2014)
Exports of Goods and Services % GDP 48.56 % (2014)
Exports Goods & Services USD 0.40 B. (2014)
Exports Annual Growth 4.16 % (2013)
Imports as % GDP 49.39 % (2014)
Total Imports USD 0.40 B. (2014)
Foreign Direct Investment % GDP 4.11 % (2018)
Foreign Direct Investment USD 0.04 B. (2018)
Current Account Balance % GDP USD 9.34 % (2018)
Current Account Balance USD 0.09 B. (2018)
Trade Balance % GDP % (2018)
Trade Balance USD 0.06 B. (2018)
Foreign Exchange Reserves incl Gold USD 0.42 B. (2018)
Remittances % GDP 2.12 % (2018)
Remittances USD 7 M. (2018)
Balance of Payments USD 398 M. (2018)

Labor Market

Indicator Value
Labor Force 0.13 M. (2019)
Unemployment Rate 5.40 % (2019)
Unemployment Rate Females 4.91 % (2019)
Unemployment Rate Males 3.98 % (2019)
Youth Unemployment (ages 15-24) 10.85 % (2019)
Labor Force Participation Rate 70.58 % (2019)
Labor Force (Percent Female) 43.71 % (2019)
Female Labor Force Participation Rate 61.53 % (2019)
Male Labor Force Participation Rate 79.71 % (2019)
Dependent People 73.88 % (2018)

Agriculture Sector

Indicator Value
Forest Area 36.10 % (2016)
Forest Area km² 4,400 km² (2016)
Agricultural Land 15.34 % (2016)
Agricultural Land km² 1,870 km² (2016)
Employment 60.93 % (2019)
Value added % GDP 25.84 % (2015)
Agriculture Value added USD 0.20 B. (2015)
Crop Production Index 128.10 (2016)
Precipitation 206 mm (2012)
Arable Land 2 % (2016)
Cereal Yield 615 kg/hectare (2017)
Food production index 124 (2016)
Rural Population 75 % (2018)
Fertilizer use of Arable Land 124 (2016)
Livestock Production Index 111 (2016)
Economy of Vanuatu

According to the World Bank and its latest published data, the economy of the Vanuatu presents a growth rate of 3.20 % (2018) to the previous year.

With a population that reaches 0.29 M (2018) and a gross domestic product of USD 0.91 B. (2018), it translates a Gross Domestic Product per Capita of USD 3,124 placing its inhabitants on the threshold of an Lower middle income country (according to the World Bank's updated classification).

Vanuatu also has a workforce of 0.13 M. (2019) with an unemployment rate of 5.40 % (2019), where women represent 4.91 % (2019) and men 3.98 % (2019), the unemployment rate for young people between 15-24 years old stood at 10.85 % (2019). The total number of dependent people stands at 73.88 % (2018).

The central government spent 14.93 % (2014) of its gross domestic product that year, which in absolute terms is USD 0.12 B. (2014). Its consolidated public debt reached 52.09 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Vanuatu exported USD 0.40 B. (2014), which represents 48.56 % (2014) of its gross domestic product, in that same sense its imports reached USD 0.40 B. (2014) with a direct foreign investment of USD 0.04 B. (2018).

Vanuatu has a forest area of 4,400 km² (2016), which represents 36.10 % (2016) of its total area, an average rainfall of 206 mm (2012) per year and a population of 75 % (2018) living in rural areas. With a total area of 1,870 km² (2016) available for agriculture and 60.93 % (2019) of its employments, the agricultural sector contributes to the economy of the Vanuatu about USD 0.20 B. (2015) (25.84 % (2015) of its GDP).