Indicators of economy in Vanuatu
The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,230 USD per capita. GDP in Vanuatu, on the other hand, reached USD 2,997 per capita, or 956.33 million USD for the whole country. Vanuatu is currently at number 195 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant, taking purchasing power parity into account, then Vanuatu ranks 164th in the list of the richest countries.Inflation in Vanuatu in 2021 was around 2.34%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 9.5 percent higher.
The index for perceived corruption in the public sector is 45, which is below average by global standards.
Back to overview: Vanuatu
Impact of the COVID-19 pandemic
Overall, the gross domestic product in Vanuatu in 2020 decreased moderatly from 936.53 million US dollars to 896.88 million US dollars. Certainly, there have been shifts in some sectors of the economy, but a drop of 4.2 percent is still comparatively good this year. Numerous countries suffered more substantial losses. The tourism sector alone slumped by around 77 percent. The unemployment rate rose from 1.8 to 2.1 percent. The consumer inflation rate has risen from 2.8 percent previously to 5.3 percent now.Unemployment rates in percentages 1991 - 2021
Economic performance 2021
Vanuatu Total | Vanuatu per capita | EU Total | EU per capita | |
---|---|---|---|---|
GDP | 956.33 m USD | 2,996.62 USD | 17.177 tn USD | 33,384.92 USD |
Gross national product | 1.04 bn USD | 3,244.06 USD | 16.895 tn USD | 32,835.37 USD |
Development of gross domestic product in millions of USD 1979 - 2021
› Debt budget development
› Development of inflation
› Corruption in Vanuatu
› Cost of living in a global comparison
› Development of inflation
› Corruption in Vanuatu
› Cost of living in a global comparison
Imports and Exports 2021
Vanuatu Total | Vanuatu per capita | EU Total | EU per capita | |
---|---|---|---|---|
Imports | 376.07 m USD | 1,178.40 USD | 8.916 tn USD | 17,329.02 USD |
Exports | 148.78 m USD | 466.19 USD | 9.554 tn USD | 18,569.19 USD |
Development of imports and exports in millions of USD 1982 - 2021
Exports
Imports