Vanuatu/Economy

Economy of Vanuatu

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon

GDP (USD)

$1.1B(2023)

GDP PPP (USD)

$1.1B(2023)

GDP per Capita (USD)

$3,515(2023)

GDP Growth (inflation-adjusted)

2.2%(2023)

Inflation (CPI Annual %)

11.2%(2023)

Trade & Finance

Coming Soon

Exports (as share of GDP)

15.3%(2022)

Imports (as share of GDP)

55.5%(2022)

FDI Inflows (as share of GDP)

0.8%(2023)

Remittance Inflow (USD)

$145.0M(2023)

Tax Revenue (as share of GDP)

17.4%(2023)

Labor & Income

Coming Soon

Unemployment Rate

5.1%(2024)

Employment in Services

44.2%(2023)

Poverty Rate

15.9%(2019)

GINI Index

32.3(2019)

GNI per Capita (USD)

$3,820(2023)

Energy & Environment

Coming Soon

Energy Use per Capita

158 kg oil eq.(2007)

Renewable Energy Consumption (%)

25%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Vanuatu

The economic architecture of Vanuatu is substantial, anchored by a Gross Domestic Product (GDP) of approximately $1.13B
2023
. This places it as the 179th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $3.52K
2023
, while its GDP in Purchasing Power Parity (PPP) terms is estimated at $1.11B, reflecting the population's domestic purchasing power. The economy is seeing modest growth of 2.2%
2023
, but this is challenged by high inflation, with the Consumer Price Index (CPI) at 11.2%
2023
.
On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 15.3% of GDP and imports at 55.5%
2022
. Foreign Direct Investment (FDI) inflows are significant, constituting 0.82% of the economy
2023
. This performance positions the country 130th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $144.97M annually
2023
, highlighting the economic importance of its diaspora. Fiscal capacity is moderate, with tax revenue at 17.4% of GDP
2023
.
The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $3,820
2023
. Globally, this ranks the nation 125th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others. The labor market is stable, with unemployment at 5.1%
2024
. The services sector is a primary driver of the labor market, accounting for 44.2% of total employment
2023
. Poverty remains a key issue, with 15.9% of the population living below the national poverty line
2019
. The country has a relatively equitable distribution of income, with a Gini index of 32.3
2019
.
On the environment and energy front, energy consumption per capita is 158.174 kg of oil equivalent
2007
. There is a growing focus on sustainability, with renewable energy accounting for 25.0% of consumption
2022
. Its commitment to clean energy places it 99th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Runaway inflation is the most pressing economic threat, eroding purchasing power and creating instability.

Trade & Investment Profile

The economy is primarily driven by domestic demand, with limited exposure to global trade fluctuations but also fewer opportunities for export-led growth.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Transitioning to a sustainable energy model is critical for mitigating climate risk and ensuring long-term energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.