Vanuatu

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Introduction - Vanuatu:
Location - Vanuatu:
People - Vanuatu:
Government - Vanuatu:
Economy - Vanuatu:
Economy overview	This South Pacific island economy is based primarily on small-scale agriculture, which provides a living for 65% of the population. Fishing, offshore financial services, and tourism, with more than 60,000 visitors in 2005, 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. GDP growth rose less than 3% on average in the 1990s. 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	$739 million (2006 est.)

Gdp official exchange rate	$341 million (2005)

Gdp real growth rate	6.8% (2005 est.)

Gdp per capita ppp	$2,900 (2003 est.)

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

Labor force	76,410 (1999)

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

Unemployment rate	1.7% (1999)

Population below poverty line	NA%

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

Inflation rate consumer prices	-1.6% (2005 est.)

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

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

Industries	food and fish freezing, wood processing, meat canning

Industrial production growth rate	1% (1997 est.)

Electricity production	43 million kWh (2004)

Electricity consumption	39.99 million kWh (2004)

Electricity exports	0 kWh (2004 est.)

Electricity imports	0 kWh (2004)

Oil production	0 bbl/day (2004 est.)

Oil consumption	620 bbl/day (2004 est.)

Oil exports	NA bbl/day

Oil imports	NA bbl/day

Oil proved reserves	0 bbl

Natural gas production	0 cu m (2004 est.)

Natural gas consumption	0 cu m (2004 est.)

Current account balance	-$28.35 million (2003)

Exports	$34.11 million f.o.b. (2004 est.)

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

Exports partners	Thailand 59%, India 16.5%, Japan 11.3% (2006)

Imports	$117.1 million c.i.f. (2004 est.)

Imports commodities	machinery and equipment, foodstuffs, fuels

Imports partners	Australia 20%, Japan 19.2%, Singapore 11.7%, NZ 8.6%, Fiji 7.5%, China 7.2%, New Caledonia 4.2% (2006)

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

Debt external	$81.2 million (2004)

Economic aid recipient	$37.8 million (2004)

Currency code	vatu (VUV)

Exchange rates	vatu per US dollar - 111.93 (2006), NA (2005), 111.79 (2004), 122.19 (2003), 139.2 (2002)

Communications - Vanuatu:
Transportation - Vanuatu:
Military - Vanuatu:

This page was last updated on 16 September, 2007
Source: CIA >>>

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home : Countries: Australia and Oceania : Developed : Republic : Small to 100 000 km2 : Population to 10 000 000 people

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Vanuatu

Vanuatu: Travel tips, articles, photos, gallery, cities database, population, pics, flags, statistics, free maps online

Back to Countries, Click to read the whole article: Vanuatu

Economy overview

Gdp purchasing power parity

$739 million (2006 est.)

Gdp official exchange rate

$341 million (2005)

Gdp real growth rate

6.8% (2005 est.)

Gdp per capita ppp

$2,900 (2003 est.)

Gdp composition by sector

agriculture: 26% industry: 12% services: 62% (2000 est.)

Labor force

76,410 (1999)

Labor force by occupation

agriculture: 65% industry: 5% services: 30% (2000 est.)

Unemployment rate

1.7% (1999)

Population below poverty line

NA%

Household income or consumption by percentage share

lowest 10%: NA% highest 10%: NA%

Inflation rate consumer prices

-1.6% (2005 est.)

Budget

revenues: $78.7 million expenditures: $72.23 million (2005 est.)

Agriculture products

copra, coconuts, cocoa, coffee, taro, yams, fruits, vegetables; beef; fish

Industries

food and fish freezing, wood processing, meat canning

Industrial production growth rate

1% (1997 est.)

Electricity production

43 million kWh (2004)

Electricity consumption

39.99 million kWh (2004)

Electricity exports

0 kWh (2004 est.)

Electricity imports

0 kWh (2004)

Oil production

0 bbl/day (2004 est.)

Oil consumption

620 bbl/day (2004 est.)

Oil exports

NA bbl/day

Oil imports

NA bbl/day

Oil proved reserves

0 bbl

Natural gas production

0 cu m (2004 est.)

Natural gas consumption

0 cu m (2004 est.)

Current account balance

-$28.35 million (2003)

Exports

$34.11 million f.o.b. (2004 est.)

Exports commodities

copra, beef, cocoa, timber, kava, coffee

Exports partners

Thailand 59%, India 16.5%, Japan 11.3% (2006)

Imports

$117.1 million c.i.f. (2004 est.)

Imports commodities

machinery and equipment, foodstuffs, fuels

Imports partners

Australia 20%, Japan 19.2%, Singapore 11.7%, NZ 8.6%, Fiji 7.5%, China 7.2%, New Caledonia 4.2% (2006)

Reserves of foreign exchange and gold

$40.54 million (2003)

Debt external

$81.2 million (2004)

Economic aid recipient

$37.8 million (2004)

Currency code

vatu (VUV)

Exchange rates

vatu per US dollar - 111.93 (2006), NA (2005), 111.79 (2004), 122.19 (2003), 139.2 (2002)

agriculture: 26%
industry: 12%
services: 62% (2000 est.)

agriculture: 65%
industry: 5%
services: 30% (2000 est.)

lowest 10%: NA%
highest 10%: NA%

revenues: $78.7 million
expenditures: $72.23 million (2005 est.)