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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 12,183 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 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 48, 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 2.0 percent. The country's gross debt fell by 1.1 percent. The consumer inflation rate has risen from 2.8 percent previously to 5.3 percent now.

In 2021, there was already a recovery and the gross domestic product increased to 956.33 million US dollars (=102.1% of 2019).

Income and purchasing power

The average monthly income in Vanuatu is 270 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. Compared with the United States, however, prices for daily consumer goods are around 3.8 percent higher. If you compare income and price levels, the result is a more expensive life in Vanuatu than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 95.6 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

 Vanuatu
Total		Vanuatu
per capita		EU
Total		EU
per capita
GDP956.33 m USD2,996.62 USD17.177 tn USD33,384.92 USD
Gross national product1.04 bn USD3,244.06 USD16.895 tn USD32,835.37 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


Imports and Exports 2021

 Vanuatu
Total		Vanuatu
per capita		EU
Total		EU
per capita
Imports376.07 m USD1,178.40 USD8.916 tn USD17,329.02 USD
Exports148.78 m USD466.19 USD9.554 tn USD18,569.19 USD


Development of imports and exports in millions of USD 1982 - 2021

Exports
Imports



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