Overview: The economy is based primarily on subsistence farming that provides a living for about 80% of the population. Fishing and tourism are the 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.

GDP: $120 million, per capita $820; real growth rate 0.7% (1987 est.)

Inflation rate (consumer prices): 8.0% (1988 est.)

Unemployment rate: NA%

Budget: revenues $80.1 million; expenditures $86.6 million, including capital expenditures of $27.1 million (1988 est.)

Exports: $16 million (f.o.b., 1988 est.); commodities--copra 37%, cocoa 11%, meat 9%, fish 8%, timber 4%; partners--Netherlands 34%, France 27%, Japan 17%, Belgium 4%, New Caledonia 3%, Singapore 2% (1987)

Imports: $58 million (f.o.b., 1988 est.); commodities--machines and vehicles 25%, food and beverages 23%, basic manufactures 18%, raw materials and fuels 11%, chemicals 6%; partners--Australia 36%, Japan 13%, NZ 10%, France 8%, Fiji 5% (1987)

External debt: $57 million (1988)

Industrial production: growth rate NA%

Electricity: 10,000 kW capacity; 20 million kWh produced, 125 kWh per capita (1989)

Industries: food and fish freezing, forestry processing, meat canning

Agriculture: export crops--copra, cocoa, coffee, and fish; subsistence crops--copra, taro, yams, coconuts, fruits, and vegetables

Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $541 million

Currency: vatu (plural--vatu); 1 vatu (VT) = 100 centimes

Exchange rates: vatu (VT) per US$1--107.17 (January 1990), 116.04 (1989), 104.43 (1988), 109.85 (1987), 106.08 (1986), 106.03 (1985)

Fiscal year: calendar year

NOTE: The information regarding Vanuatu on this page is re-published from the 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 1990 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 1990 should be addressed to the CIA.