| COUNTRIES | GEOGRAPHIC NAMES | GEOLOGY | USA STATS | CHINA STATS | COUNTRY CODES | AIRPORTS | RELIGION | JOBS |

Vanuatu Economy 2010
http://www.workmall.com/wfb2010/vanuatu/vanuatu_economy.html
SOURCE: 2010 CIA WORLD FACTBOOK AND OTHER SOURCES

. Feedback

GEOGRAPHICAL NAMES Spanish Simplified Chinese French German Russian Hindi Arabic Portuguese
Page last updated on January 15, 2010

Economy - overview:
This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for over 70% 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):
$1.041 billion (2009 est.)

$1.003 billion (2008 est.)
$940.6 million (2007 est.)
note: data are in 2009 US dollars

GDP (official exchange rate):
$554 million (2009 est.)

GDP - real growth rate:
3.8% (2009 est.)

6.6% (2008 est.)
6.8% (2007 est.)

GDP - per capita (PPP):
$4,800 (2009 est.)

$4,700 (2008 est.)
$4,400 (2007 est.)
note: data are in 2009 US dollars

GDP - composition by sector:
agriculture: 26%
industry: 12%
services: 62% (2000 est.)

Labor force:
115,900 (2007)

Labor force - by occupation:
agriculture: 65%
industry: 5%
services: 30% (2000 est.)

Unemployment rate:
1.7% (1999 est.)

Population below poverty line:
NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Budget:
revenues: $78.7 million
expenditures: $72.23 million (2005)

Inflation rate (consumer prices):
3.9% (2007 est.)

Central bank discount rate:
6% (31 December 2008)

6% (31 December 2007)

Commercial bank prime lending rate:
5.29% (31 December 2008)

8.16% (31 December 2007)

Stock of money:
$101.6 million (31 December 2008)

$107.1 million (31 December 2007)

Stock of quasi money:
$430 million (31 December 2008)

$421.8 million (31 December 2007)

Stock of domestic credit:
$274 million (31 December 2008)

$229.5 million (31 December 2007)

Market value of publicly traded shares:
$NA

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.)

Electricity - consumption:
39.06 million kWh (2007 est.)

Electricity - exports:
0 kWh (2008 est.)

Electricity - imports:
0 kWh (2008 est.)

Oil - production:
0 bbl/day (2008 est.)

Oil - consumption:
1,000 bbl/day (2008 est.)

Oil - exports:
0 bbl/day (2007 est.)

Oil - imports:
654 bbl/day (2007 est.)

Oil - proved reserves:
0 bbl (1 January 2009 est.)

Natural gas - production:
0 cu m (2008 est.)

Natural gas - consumption:
0 cu m (2008 est.)

Natural gas - exports:
0 cu m (2008 est.)

Natural gas - imports:
0 cu m (2008 est.)

Natural gas - proved reserves:
0 cu m (1 January 2009 est.)

Current account balance:
$-60 million (2007 est.)

Exports:
$40 million (2006 est.)

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

Exports - partners:
Thailand 83%, Japan 5.9%, Belgium 1.8% (2008)

Imports:
$156 million (2006 est.)

Imports - commodities:
machinery and equipment, foodstuffs, fuels

Imports - partners:
Australia 17.6%, US 15.9%, Japan 12%, Singapore 10.8%, China 8.5%, NZ 7.5%, Fiji 6.7% (2008)

Reserves of foreign exchange and gold:
$40.54 million (2003 est.)

Debt - external:
$81.2 million (2004 est.)

Exchange rates:
vatu (VUV) per US dollar - 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 2010 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 2010 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 2010 should be addressed to the CIA.



- Please bookmark this page (add it to your favorites).
- If you wish to link to this page, you can do so by referring to the URL address below this line.

http://www.workmall.com/wfb2010/vanuatu/vanuatu_economy.html

This page was last modified 08-Feb-10
Copyright © 1995-2010 ITA all rights reserved.