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Indicators of economy in Vanuatu

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in Vanuatu reached 2.870 US dollars per inhabitant, or 881.55 m US Dollar in the whole country. Vanuatu is currently at number 197 among the international economies and is therefore one of the less significant. If this is calculated per inhabitant taking into account the purchasing power parity, then Vanuatu is in the list of the world's richest countries in place 165.

Inflation in Vanuatu was in 2019 at around 2.76%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 7.6% higher.
The Corruption Perceptions Index for the public sector counts 45 and is compared to other countries bad.


Back to overview: Vanuatu

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic were not insignificant in Vanuatu 2020. Overall, gross domestic product in 2020 fell from 934.52 million US Dollar auf 881.55 million US Dollar. With a drop of 5.7 percent, the economy in Vanuatu suffered more significant losses than other countries.. The tourism sector alone slumped by around 77 percent. The unemployment rate rose from 1.8 to 2.1 percent.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Vanuatu
Total
Vanuatu
per capita
EU
Total
EU
per capita
GDP881.55 m USD2,870.09 USD15,291.93 tn USD29,692.11 USD
Gross national product981.06 m USD3,194.06 USD15,330.84 tn USD29,767.66 USD


Development of gross domestic product in million US Dollar 1979 - 2020



Im- and Exports 2020

 Vanuatu
Total
Vanuatu
per capita
EU
Total
EU
per capita
Imports387.16 m USD1,260.49 USD7,340.01 bn USD14,251.98 USD
Exports155.74 m USD507.05 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in million US dollars 1982 - 2020

Exports
Imports



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