Economy of Vanuatu


Industry's portion of GDP declined from 15% to 10% between 1990 and 2008.


dollar transaction ban on in December 1999. Vanuatu sells citizenship for about $150,000, and its passports allow visa-free travel throughout Europe.


===Tourism sector=== Tourism is Vanuatu's fastest-growing sector, having comprised 40% of GDP in 2000.

In 2000, imports exceeded exports by a ratio of nearly 4 to 1.


Under Prime Minister Edward Natapei, reform programs were reintroduced. ===Traditional economy=== The government declared 2007 to be "the Year of the Traditional Economy" (kastom ekonomi), encouraging the trade of sea shells and pig tusks and discouraging cash transfers.


Industry's portion of GDP declined from 15% to 10% between 1990 and 2008.

By the end of the year, they extended the experiment in to 2008.


On the Tax Justice Network's 2011 Financial Secrecy Index, Vanuatu received a "secrecy score" of 88/100, though its marginal market share placed it near the bottom of the weighted list.


Copra, cocoa, kava and beef account for more than 60% of Vanuatu's total exports by value and agriculture accounts for 20% of GDP. Vanuatu produced in 2018: 374 thousand tons of coconut; 53 thousand tons of root and tubers; 16 thousand tons of banana; 13 thousand tons of vegetable; In addition to smaller productions of other agricultural products, like peanut (2.6 thousand tons) and cocoa (1.8 thousand tons).

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Page generated on 2021-08-05