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Economy of Fiji vs Vanuatu compared: GDP & Debt

Updated on by Georank team

Fiji has a GDP of $5.97B compared to $1.12B for Vanuatu, ranking 161/197 and 188/197 by economy size, respectively.

Fiji has $4.54B in government debt (76.2% of GDP), compared to $507M (45.3% of GDP) in Vanuatu.

Fiji vs Vanuatu GDP by year

Fiji
Vanuatu
1x
Year GDP, current $
Fiji Vanuatu
2024 $5,968,125,909 $1,117,972,034
2023 $5,476,673,518 $1,115,861,056
2022 $4,977,861,886 $1,055,031,361
2021 $4,158,873,156 $950,394,007
2020 $4,227,719,873 $909,421,044
2019 $5,344,907,153 $936,526,268
2018 $5,581,425,327 $914,727,908
2017 $5,353,469,174 $880,043,284
2016 $4,930,213,644 $804,323,577
2015 $4,682,479,894 $759,690,181
2014 $4,857,104,769 $773,717,011
2013 $4,189,967,999 $758,304,466
2012 $3,972,028,104 $747,839,698
2011 $3,779,411,899 $770,153,588
2010 $3,140,166,713 $670,712,980
2009 $2,870,624,636 $592,622,319
2008 $3,523,185,920 $590,748,429
2007 $3,378,314,600 $516,392,923
2006 $3,076,305,453 $439,358,587
2005 $2,980,403,845 $394,962,433
2004 $2,708,078,477 $364,996,869
2003 $2,300,492,465 $314,471,413
2002 $1,833,279,985 $262,596,536
2001 $1,652,462,023 $257,926,882
2000 $1,678,219,508 $272,014,628
1999 $1,936,459,986 $268,006,973
1998 $1,653,146,717 $262,293,411
1997 $2,090,221,137 $272,771,209
1996 $2,128,696,644 $261,370,044
1995 $1,970,301,486 $249,333,250
1994 $1,825,732,093 $233,701,301
1993 $1,636,101,247 $200,491,853
1992 $1,532,411,039 $209,088,825
1991 $1,383,883,250 $201,334,169
1990 $1,337,017,559 $168,879,207
1989 $1,182,660,266 $154,013,202
1988 $1,110,009,523 $158,351,368
1987 $1,177,947,965 $139,464,174
1986 $1,290,267,340 $126,498,935
1985 $1,141,168,944 $131,856,421
1984 $1,178,000,678 $144,482,515
1983 $1,123,085,190 $117,389,554
1982 $1,194,059,943 $114,501,913
1981 $1,235,626,771 $113,781,796
1980 $1,202,618,816 $121,185,498
1979 $1,019,691,460 $119,258,835
1978 $829,267,889 -
1977 $719,501,766 -
1976 $694,540,806 -
1975 $684,282,434 -
1974 $558,587,097 -
1973 $425,950,488 -
1972 $316,656,649 -
1971 $247,749,328 -
1970 $219,878,482 -
1969 $182,182,068 -
1968 $166,952,937 -
1967 $162,625,886 -
1966 $150,603,926 -
1965 $147,084,750 -
1964 $140,032,741 -
1963 $129,454,729 -
1962 $122,906,435 -
1961 $116,987,785 -
1960 $112,328,422 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/fiji/vanuatu | CC BY

GDP per capita in Fiji vs Vanuatu by year

Fiji
GDP per capita

GDP per capita, PPP
Vanuatu
GDP per capita

GDP per capita, PPP
1x
Year Current $
Fiji Vanuatu
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $6,426 $15,450 $3,411 $3,606
2023 $5,926 $14,644 $3,483 $3,568
2022 $5,414 $12,982 $3,370 $3,453
2021 $4,537 $10,322 $3,107 $3,136
2020 $4,621 $10,716 $3,043 $3,118
2019 $5,842 $12,978 $3,207 $3,315
2018 $6,085 $12,984 $3,207 $3,233
2017 $5,827 $12,585 $3,160 $3,146
2016 $5,364 $11,766 $2,956 $3,030
2015 $5,098 $11,519 $2,855 $2,966
2014 $5,293 $10,516 $2,973 $2,890
2013 $4,572 $8,842 $2,980 $2,832
2012 $4,341 $8,204 $3,005 $2,834
2011 $4,140 $7,672 $3,163 $2,816
2010 $3,449 $7,339 $2,815 $2,733
2009 $3,164 $7,068 $2,546 $2,730
2008 $3,900 $7,154 $2,604 $2,701
2007 $3,763 $6,990 $2,334 $2,573
2006 $3,455 $6,921 $2,035 $2,496
2005 $3,378 $6,652 $1,874 $2,287
2004 $3,097 $6,463 $1,774 $2,157
2003 $2,656 $6,033 $1,567 $2,070
2002 $2,137 $5,914 $1,341 $1,995
2001 $1,945 $5,699 $1,350 $2,125
2000 $1,996 $5,521 $1,460 $2,206
1999 $2,328 $5,552 $1,472 $2,084
1998 $2,010 $5,090 $1,471 $2,091
1997 $2,574 $5,031 $1,562 $2,087
1996 $2,648 $5,109 $1,529 $1,998
1995 $2,467 $4,818 $1,492 $1,961
1994 $2,297 $4,627 $1,431 $1,946
1993 $2,070 $4,334 $1,257 $1,789
1992 $1,951 $4,172 $1,344 $1,777
1991 $1,775 $3,873 $1,326 $1,737
1990 $1,729 $3,882 $1,141 $1,670
1989 $1,543 - $1,067 -
1988 $1,463 - $1,125 -
1987 $1,569 - $1,017 -
1986 $1,745 - $946 -
1985 $1,577 - $1,012 -
1984 $1,667 - $1,137 -
1983 $1,628 - $947 -
1982 $1,773 - $946 -
1981 $1,879 - $962 -
1980 $1,873 - $1,048 -
1979 $1,627 - $1,055 -
1978 $1,355 - - -
1977 $1,204 - - -
1976 $1,186 - - -
1975 $1,188 - - -
1974 $984 - - -
1973 $762 - - -
1972 $575 - - -
1971 $458 - - -
1970 $414 - - -
1969 $350 - - -
1968 $327 - - -
1967 $326 - - -
1966 $310 - - -
1965 $311 - - -
1964 $306 - - -
1963 $291.4 - - -
1962 $285.5 - - -
1961 $280.3 - - -
1960 $277.4 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/fiji/vanuatu | CC BY

Fiji's GDP per capita is $6,426, ranking 108/197, compared to $3,411 in Vanuatu, ranking 137/197. Adjusted for purchasing power (GDP per capita PPP), Fiji ranks 113th at $15,450, while Vanuatu ranks 170th at $3,606.

Economic indicators

Fiji Vanuatu
Gross domestic product
$5.97B
2024
$1.12B
2024
GDP rank
161/197
2024
188/197
2024
GDP growth
3.53%
2023-2024
0.94%
2023-2024
GDP per capita
$6,426
2024
$3,411
2024
GDP per capita rank
108/197
2024
137/197
2024
GDP per capita, PPP
$15,450
2024
$3,606
2024
GDP per capita PPP rank
113/197
2024
170/197
2024
Government debt
$4.54B
2024
$507M
2024
Debt-to-GDP ratio
76.2%
2024
45.3%
2024
Government debt per person
$4,893
2024
$1,546
2024
Government debt per person rank
80/185
2024
131/185
2024
Average annual personal income after taxes
$6,964
2026
$3,164
2026
Income share by richest 10%
24.2%
2019
24.7%
2019
Income share by poorest 10%
3.5%
2019
3%
2019
Government expenditure, % of GDP
29.7%
2024
41.1%
2024
Consumer prices inflation
4.51%
2023-2024
11.2%
2022-2023
Central bank interest rate
0.25%
2020
n/a
Unemployment rate
5.36%
2024
4.05%
2020
Population
938628
344750

Spending and national debt comparison by year

Fiji
Spending

Debt
Vanuatu
Spending

Debt
1x
Year % of GDP
Fiji Vanuatu
Government spending Government debt Government spending Government debt
2024 29.7% 76.2% 41.1% 45.3%
2023 28.8% 79.1% 41.6% 41.8%
2022 30.9% 83.3% 42% 42.8%
2021 36.7% 89% 44.4% 48.5%
2020 36.2% 72.9% 43.4% 48%
2019 30.8% 49.7% 39.8% 45.1%
2018 31.8% 44.8% 33.3% 45.3%
2017 27.3% 42.2% 37.1% 52.6%
2016 31.4% 43.6% 35.2% 42.5%
2015 29.8% 43% 42.4% 36.3%
2014 29.1% 44.5% 23.3% 20.2%
2013 25.1% 45.8% 22.9% 18.6%
2012 25.5% 47.7% 24.5% 19.3%
2011 25.3% 48.6% 25.1% 21.3%
2010 24.8% 51.8% 28.3% 20.2%
2009 26.2% 51.5% 27.6% 21.1%
2008 22.6% 47.5% 27.8% 21.2%
2007 23.3% 46% 22.5% 19.5%
2006 24.8% 49.2% 20.1% 22.2%
2005 23.3% 44% 18.3% 26.3%
2004 24% 44.5% 18.5% 30.4%
2003 25.8% 44.9% 18.8% 38.3%
2002 27.4% 43.4% 22.3% 38.8%
2001 26.4% 41% 22.3% 37%
2000 24.8% 36.9% 25.4% 36.1%
1999 23.2% 32.7% 23.9% 30.6%
1998 26.8% 36.6% 27.9% 28%
1997 29.1% 54.1% 22.2% 22.9%
1996 26.4% 48.8% 24.5% 23.1%
1995 23.2% 48.4% 28% 24.1%
1994 24.3% 47.6% 24.4% 21.6%
1993 25.7% 44.3% 26.2% 20.3%
1992 25.8% 42.2% 31.8% 21%
1991 - - 33.2% 15.9%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/fiji/vanuatu | CC BY

In 2024, Fiji's government spending was $1.77B, accounting for 29.7% of its GDP, while Vanuatu spent $459M, or 41.1% of GDP.

Debt-to-GDP ratio is 76.2% in Fiji and 45.3% in Vanuatu, ranking 47/185 and 119/185, respectively.

Government deficit by year

Deficit/surplus
Fiji

Vanuatu
1x
Year Deficit/surplus, % of GDP
Fiji Vanuatu
2024 -3.36% -2.34%
2023 -6.82% -0.95%
2022 -11.2% -6.5%
2021 -14.6% 2.38%
2020 -9.24% -1.95%
2019 -3.67% 2.81%
2018 -4.72% 6.26%
2017 -2.22% -1.2%
2016 -5.58% -0.72%
2015 -3.8% -8.66%
2014 -3.36% 1.44%
2013 -0.08% -0.25%
2012 -0.67% -1.7%
2011 -0.69% -2.19%
2010 -1.26% -2.63%
2009 -2.76% -0.85%
2008 1.54% -0.04%
2007 0.35% 0.28%
2006 -0.74% 0.49%
2005 -1.14% 1.86%
2004 -0.95% 0.8%
2003 -3.34% -1.35%
2002 -3.58% -3.63%
2001 -4.4% -3.33%
2000 -1.37% -6.28%
1999 1.1% -0.55%
1998 5.21% -6.65%
1997 -4.48% -0.51%
1996 -3.35% -1.78%
1995 0.77% -2.59%
1994 -0.19% -1.49%
1993 -1.83% -3.67%
1992 -2.14% -2.32%
1991 - -2.81%

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).

GeoRank.org/economy/fiji/vanuatu | CC BY

In 2024, Fiji's government deficit, the difference between spending and revenue, was $201M, equivalent to 3.36% of GDP. This compares to Vanuatu's deficit of $26.2M, or 2.34% of GDP.

Over the past 33 years, Fiji recorded a fiscal deficit in 28 of those years, while Vanuatu ran a deficit in 25 years. On average, Fiji posted an annual deficit equal to 2.81% of GDP, compared to deficit of 1.45% of GDP for Vanuatu.

Inflation comparison by year

Inflation
Fiji

Vanuatu
1x
Year Consumer prices inflation
Fiji Vanuatu
2024 4.51% -
2023 2.34% 11.2%
2022 4.32% 6.68%
2021 0.16% 2.34%
2020 -2.6% 5.33%
2019 1.77% 2.76%
2018 4.08% 2.33%
2017 3.35% 3.08%
2016 3.86% 0.84%
2015 1.37% 2.48%
2014 0.52% 0.8%
2013 2.91% 1.46%
2012 3.42% 1.35%
2011 7.28% 0.87%
2010 3.69% 2.76%
2009 3.13% 4.3%
2008 7.73% 4.84%
2007 4.8% 3.94%
2006 2.49% 2.04%
2005 2.37% 1.2%
2004 2.83% 1.42%
2003 4.17% 3.02%
2002 0.76% 1.96%
2001 4.27% 3.58%
2000 1.09% 2.54%
1999 1.97% 2%
1998 5.71% 3.28%
1997 3.37% 2.83%

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06).

GeoRank.org/economy/fiji/vanuatu | CC BY

Over the past 27 years, Fiji has recorded an average annual inflation rate of 3.01%, compared with 3.01% in Vanuatu. In 2023, inflation was 4.51% in Fiji and 11.2% in Vanuatu.

Top exports between countries

Fiji
Export category Export value
Processed food, beverages & tobacco $13.6M
Raw agricultural goods $5.64M
Chemicals & pharma $4.36M
Animal & marine products $4.06M
Machinery & equipment $2.04M
Textiles & consumer goods $1.66M
Wood & paper products $1.12M
Raw materials & minerals $767K
Metals $438K
Miscellaneous $323K
Vanuatu
Export category Export value
Raw agricultural goods $2.67M
Animal & marine products $1.82M
Machinery & equipment $252K
Wood & paper products $206K
Miscellaneous $85K
Metals $66K
Textiles & consumer goods $24K
Chemicals & pharma $12K
Processed food, beverages & tobacco $9K
Raw materials & minerals $3K

Balance of trade

Fiji Vanuatu
Current account balance
-$866M
2022
-$127M
2022
Current account balance ranking
120/190
2022
90/190
2022
Current account balance, % of GDP
-17.4%
2022
-12.1%
2022
Goods imports
$2.68B
2022
$350M
2022
Goods exports
$1.05B
2022
$73.6M
2022
Service imports
$754M
2022
$230M
2022
Service exports
$1.33B
2022
$78.5M
2022
Imports of goods and services, % of GDP
69.2%
2023
54.2%
2022
Exports of goods and services, % of GDP
57%
2023
9.43%
2022

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Fiji Vanuatu
Economic freedom 59.5 61.1
Economic freedom ranking 103/197 92/197
Property rights 59.9 62.1
Government integrity 55.4 48.3
Judicial effectiveness 53.2 67.9
Tax burden 87.8 96.9
Government spending 70 48.1
Fiscal health 7.5 78.8
Business freedom 69.5 50.3
Labor freedom 66.9 41
Monetary freedom 72.4 72.1
Trade freedom 66.6 62
Investment freedom 55 65
Financial freedom 50 40

Economic freedom comparison by year

Fiji
Vanuatu
1x
Year Economic freedom index
Fiji Vanuatu
2026 59.5 61.1
2025 59.1 61.8
2024 58 62.2
2023 58 62.1
2022 56.4 62.9
2021 62.2 60.5
2020 63.4 60.7
2019 62.2 56.4
2018 62 69.5
2017 63.4 67.4
2016 58.8 60.8
2015 59 61.1
2014 58.7 59.5
2013 57.2 56.6
2012 57.3 56.6
2011 60.4 56.7
2010 60.3 56.4
2009 61 58.4
2008 61.8 -
2007 60.8 -
2006 58.4 -
2005 58.2 -
2004 58 -
2003 54.7 -
2002 53.9 -
2001 53.7 -
2000 57.8 -
1999 58.4 -
1998 58.2 -
1997 58 -
1996 57.4 -
1995 54.7 -

Data sources: The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09).

GeoRank.org/economy/fiji/vanuatu | CC BY

The Economic Freedom Index for Fiji is 59.5, ranking 103/197, compared to 61.1 for Vanuatu, ranking 92/197. The chart above displays a comparison of annual changes in economic freedom indexes.

Other economic metrics

Fiji Vanuatu
Services, % of GDP
54.6%
2024
59.1%
2022
Industry, % of GDP
16.5%
2024
7.37%
2022
Agriculture, forestry, and fishing, % of GDP
13.2%
2024
24.3%
2022
GNI, Atlas method
$5.4B
2024
$1.28B
2024
GNI per capita, PPP
$14,490
2024
$4,140
2024
Total reserves including gold
$1.6B
2024
$615M
2024
Total reserves ranking
133/177
2024
152/177
2024
Net foreign direct investment
-$86.9M
2022
-$9.21M
2022
Net inflows of foreign direct investment
$204M
2024
$28.9M
2024
Net outflows of foreign direct investment
$25.6M
2024
$2.79M
2024
Servicing debt to the IMF, % of GNI
4.36%
2024
2.04%
2024
Poverty at national poverty lines
31%
2020
15.9%
2020
Gross capital formation, % of GDP
19.7%
2023
38.3%
2022

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/fiji/vanuatu | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20)
  3. The Heritage Foundation | Economic Freedom Index (1995–2026, retrieved 2026-03-09)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. TradeMap (2011–2024, retrieved 2026-02-08)
  6. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  7. LivingCost (2026, retrieved 2025-10-14)
  8. Central Intelligence Agency (CIA) (2020, retrieved 2026-02-20)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.