Economy of Vanuatu

Economy of Vanuatu
A market in Port Vila.
CurrencyVanuatu vatu
Country group
Developing/Emerging
Statistics
GDP
  • Decrease $0.888 billion (nominal, 2021 est.)[1]
  • Decrease $0.888 billion (PPP, 2021 est.)[1]
GDP growth
  • 3.5% (2016) 4.4% (2017)
  • 3.2% (2018e) 3.8% (2019e)[2]
GDP per capita
  • Increase $3,255 (nominal, 2018 est.)[2]
  • Increase $2,863 (PPP, 2018 est.)[2]
2.863% (2018 est.)[2]
All values, unless otherwise stated, are in US dollars.

Vanuatu's economy is primarily agricultural; 80% of the population is engaged in agricultural activities that range from subsistence farming to smallholder farming of coconuts and other cash crops.[3]

Copra is by far the most important cash crop (making up more than 35% of Vanuatu's exports), followed by timber, beef, and cocoa. Kava root extract exports also have become important.

  1. ^ a b "Vanuatu - The World Factbook". CIA World Factbook. Central Intelligence Agency. Archived from the original on 9 January 2021. Retrieved 2 December 2023.
  2. ^ a b c d "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 21 October 2019.
  3. ^ The Case for a Legislative Budget Office in Vanuatu. Social Science Research Network (SSRN). Accessed 18 July 2017.