Oceania > Vanuatu > Economy

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Agriculture > products copra, coconuts, cocoa, coffee, taro, yams, coconuts, fruits, vegetables; fish, beef
Aid as % of GDP	21.6%		[12th of 129]
Current account balance	-$60,000,000.00		[73rd of 181]
Debt > External	$81,200,000.00		[26th of 136]
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. 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.
Exchange rates vatu per US dollar - 111.79 (2004), 122.19 (2003), 139.2 (2002), 145.31 (2001), 137.64 (2000)
Exports	$40,000,000.00		[180th of 189]
Exports to US	$200,000.00		[196th of 224]
GDP	$387,506,300.00		[161st of 203]
GDP (purchasing power parity)	$897,000,000.00		[181st of 187]
GDP > PPP	$622,000,000.00		[161st of 163]
GDP > Real growth rate	5%		[106th of 198]
GDP growth > annual %	2.8 annual %		[125th of 187]
GDP per capita, PPP > current international $	3,225.05 PPP $		[107th of 169]
Gross National Income	$212,096,000.00		[164th of 172]
Gross national income > constant LCU	11826460000
Human Development Index	0.659		[119th of 178]
Inflation rate (consumer prices)	3.9%		[116th of 192]
Total reserves minus gold > current US$	67,197,570 $		[166th of 178]
Tourist arrivals	49,000		[132nd of 152]

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