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    Vanuatu Index 2006

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    Vanuatu Economy - 2006
    https://theodora.com/wfbcurrent/vanuatu/vanuatu_economy.html
    SOURCE: 2006 CIA WORLD FACTBOOK

      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 about 50,000 visitors in 2004, 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. 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):
      $580 million (2003 est.)

      GDP (official exchange rate):
      NA

      GDP - real growth rate:
      1.1% (2003 est.)

      GDP - per capita (PPP):
      $2,900 (2003 est.)

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

      Labor force:
      NA

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

      Unemployment rate:
      NA%

      Population below poverty line:
      NA%

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

      Inflation rate (consumer prices):
      3.1% (2003 est.)

      Budget:
      revenues: $52.6 million
      expenditures: $54.3 million; including capital expenditures of $700,000 (2003)

      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:
      41 million kWh (2003)

      Electricity - consumption:
      38.13 million kWh (2003)

      Electricity - exports:
      0 kWh (2003)

      Electricity - imports:
      0 kWh (2003)

      Oil - production:
      0 bbl/day (2003 est.)

      Oil - consumption:
      620 bbl/day (2003 est.)

      Oil - exports:
      NA bbl/day

      Oil - imports:
      NA bbl/day

      Natural gas - production:
      0 cu m (2003 est.)

      Natural gas - consumption:
      0 cu m (2003 est.)

      Exports:
      $205 million f.o.b. (2004 est.)

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

      Exports - partners:
      Thailand 47%, Malaysia 18.4%, Japan 7.5%, Belgium 5.4%, China 4.9% (2004)

      Imports:
      $233 million c.i.f. (2004 est.)

      Imports - commodities:
      machinery and equipment, foodstuffs, fuels

      Imports - partners:
      Taiwan 24%, Australia 16.5%, Japan 11.4%, Singapore 8.5%, NZ 7.2%, Fiji 6.3%, US 4.4% (2004)

      Debt - external:
      $83.7 million (2002)

      Economic aid - recipient:
      $27.5 million (2002)

      Currency (code):
      vatu (VUV)

      Exchange rates:
      vatu per US dollar - NA (2005), 111.79 (2004), 122.19 (2003), 139.2 (2002), 145.31 (2001)

      Fiscal year:
      calendar year


      NOTE: The information regarding Vanuatu on this page is re-published from the 2006 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Vanuatu Economy 2006 information contained here. All suggestions for corrections of any errors about Vanuatu Economy 2006 should be addressed to the CIA.

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    https://theodora.com/wfbcurrent/vanuatu/vanuatu_economy.html

    Revised 06-Jun-06
    Copyright © 2006 Photius Coutsoukis (all rights reserved)


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