Vanuatu ranked 188/197 by economy size with a GDP of $1.12B and 137/197 by GDP per capita at $3,411. Vanuatu has $507M in government debt, with a debt-to-GDP ratio of 45.3%.
In 2024, Vanuatu made up 0.001% of the world's economy, compared to 0.001% in 1979.
Vanuatu GDP & GDP growth by year
| Year | GDP | GDP growth |
|---|---|---|
| 2024 | $1,117,972,034 | 0.94% |
| 2023 | $1,115,861,056 | 2.09% |
| 2022 | $1,055,031,361 | 5.19% |
| 2021 | $950,394,007 | -1.55% |
| 2020 | $909,421,044 | -4.99% |
| 2019 | $936,526,268 | 3.24% |
| 2018 | $914,727,908 | 2.9% |
| 2017 | $880,043,284 | 4.41% |
| 2016 | $804,323,577 | 3.47% |
| 2015 | $759,690,181 | 3.97% |
| 2014 | $773,717,011 | 2.58% |
| 2013 | $758,304,466 | 0.46% |
| 2012 | $747,839,698 | 1.01% |
| 2011 | $770,153,588 | 3.14% |
| 2010 | $670,712,980 | 1.26% |
| 2009 | $592,622,319 | 3.04% |
| 2008 | $590,748,429 | 5.6% |
| 2007 | $516,392,923 | 2.88% |
| 2006 | $439,358,587 | 8.46% |
| 2005 | $394,962,433 | 5.31% |
| 2004 | $364,996,869 | 3.99% |
| 2003 | $314,471,413 | 4.29% |
| 2002 | $262,596,536 | -5.2% |
| 2001 | $257,926,882 | -3.4% |
| 2000 | $272,014,628 | 5.92% |
| 1999 | $268,006,973 | 0.34% |
| 1998 | $262,293,411 | 1.18% |
| 1997 | $272,771,209 | 4.91% |
| 1996 | $261,370,044 | 2.33% |
| 1995 | $249,333,250 | 1% |
| 1994 | $233,701,301 | 9.08% |
| 1993 | $200,491,853 | 0.74% |
| 1992 | $209,088,825 | 2.59% |
| 1991 | $201,334,169 | 3.15% |
| 1990 | $168,879,207 | 11.7% |
| 1989 | $154,013,202 | 1.53% |
| 1988 | $158,351,368 | -1.69% |
| 1987 | $139,464,174 | -2.89% |
| 1986 | $126,498,935 | -0.15% |
| 1985 | $131,856,421 | 1% |
| 1984 | $144,482,515 | 9.57% |
| 1983 | $117,389,554 | 3.01% |
| 1982 | $114,501,913 | 1.98% |
| 1981 | $113,781,796 | 4.38% |
| 1980 | $121,185,498 | -11.4% |
| 1979 | $119,258,835 | - |
Data sources: World Bank | Economy & Growth (1979–2024, retrieved 2026-04-06).
GeoRank.org/economy/vanuatu | CC BY 
Vanuatu GDP per capita by year
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 2024 | $3,411 | $3,606 |
| 2023 | $3,483 | $3,568 |
| 2022 | $3,370 | $3,453 |
| 2021 | $3,107 | $3,136 |
| 2020 | $3,043 | $3,118 |
| 2019 | $3,207 | $3,315 |
| 2018 | $3,207 | $3,233 |
| 2017 | $3,160 | $3,146 |
| 2016 | $2,956 | $3,030 |
| 2015 | $2,855 | $2,966 |
| 2014 | $2,973 | $2,890 |
| 2013 | $2,980 | $2,832 |
| 2012 | $3,005 | $2,834 |
| 2011 | $3,163 | $2,816 |
| 2010 | $2,815 | $2,733 |
| 2009 | $2,546 | $2,730 |
| 2008 | $2,604 | $2,701 |
| 2007 | $2,334 | $2,573 |
| 2006 | $2,035 | $2,496 |
| 2005 | $1,874 | $2,287 |
| 2004 | $1,774 | $2,157 |
| 2003 | $1,567 | $2,070 |
| 2002 | $1,341 | $1,995 |
| 2001 | $1,350 | $2,125 |
| 2000 | $1,460 | $2,206 |
| 1999 | $1,472 | $2,084 |
| 1998 | $1,471 | $2,091 |
| 1997 | $1,562 | $2,087 |
| 1996 | $1,529 | $1,998 |
| 1995 | $1,492 | $1,961 |
| 1994 | $1,431 | $1,946 |
| 1993 | $1,257 | $1,789 |
| 1992 | $1,344 | $1,777 |
| 1991 | $1,326 | $1,737 |
| 1990 | $1,141 | $1,670 |
| 1989 | $1,067 | - |
| 1988 | $1,125 | - |
| 1987 | $1,017 | - |
| 1986 | $946 | - |
| 1985 | $1,012 | - |
| 1984 | $1,137 | - |
| 1983 | $947 | - |
| 1982 | $946 | - |
| 1981 | $962 | - |
| 1980 | $1,048 | - |
| 1979 | $1,055 | - |
Data sources: World Bank | Economy & Growth (1979–2024, retrieved 2026-04-06).
GeoRank.org/economy/vanuatu | CC BY
Vanuatu has a GDP per capita of $3,411, ranking 137/197, a GDP per capita based on purchasing power parity (PPP) of $3,606, ranking 170/197, and a median annual after tax income of $3,164, ranking 139/197.
Vanuatu GDP rankings by year
| Year | Rank | ||
|---|---|---|---|
| GDP | GDP per capita | GDP per capita, PPP | |
| 2024 | 177 | 127 | 156 |
| 2023 | 181 | 131 | 162 |
| 2022 | 181 | 133 | 162 |
| 2021 | 181 | 133 | 164 |
| 2020 | 182 | 134 | 163 |
| 2019 | 183 | 133 | 159 |
| 2018 | 184 | 132 | 159 |
| 2017 | 185 | 132 | 161 |
| 2016 | 186 | 132 | 160 |
| 2015 | 187 | 133 | 162 |
| 2014 | 186 | 134 | 161 |
| 2013 | 187 | 133 | 161 |
| 2012 | 186 | 132 | 156 |
| 2011 | 186 | 130 | 158 |
| 2010 | 188 | 127 | 157 |
| 2009 | 188 | 126 | 157 |
| 2008 | 187 | 127 | 157 |
| 2007 | 186 | 125 | 154 |
| 2006 | 186 | 125 | 153 |
| 2005 | 185 | 118 | 155 |
| 2004 | 186 | 116 | 155 |
| 2003 | 186 | 115 | 155 |
| 2002 | 186 | 114 | 154 |
| 2001 | 186 | 114 | 150 |
| 2000 | 185 | 110 | 147 |
| 1999 | 182 | 108 | 147 |
| 1998 | 184 | 109 | 145 |
| 1997 | 184 | 105 | 142 |
| 1996 | 179 | 103 | 137 |
| 1995 | 179 | 101 | 132 |
| 1994 | 176 | 96 | 130 |
| 1993 | 175 | 100 | 134 |
| 1992 | 174 | 95 | 133 |
| 1991 | 173 | 95 | 135 |
| 1990 | 172 | 105 | 134 |
| 1989 | 157 | 92 | - |
| 1988 | 157 | 90 | - |
| 1987 | 155 | 93 | - |
| 1986 | 150 | 90 | - |
| 1985 | 147 | 86 | - |
| 1984 | 143 | 86 | - |
| 1983 | 144 | 92 | - |
| 1982 | 144 | 93 | - |
| 1981 | 144 | 95 | - |
| 1980 | 143 | 88 | - |
| 1979 | 132 | 80 | - |
Data sources: World Bank | Economy & Growth (1979–2024, retrieved 2026-04-06).
GeoRank.org/economy/vanuatu | CC BY
Compared with 2000, in 2024 Vanuatu is ranked 177th out of 182 by GDP (up from 185th), 127th by GDP per capita (down from 110th), and 156th by GDP per capita PPP (down from 147th).
Economic indicators
Vanuatu
|
Rank | |
|---|---|---|
| Gross domestic product |
$1.12B
2024 |
188/197 |
| GDP growth |
0.94%
2023-2024 |
159/194 |
| GDP per capita |
$3,411
2024 |
137/197 |
| GDP per capita, PPP |
$3,606
2024 |
170/197 |
| Government debt |
$507M
2024 |
175/185 |
| Debt-to-GDP ratio |
45.3%
2024 |
119/185 |
| Government debt per person |
$1,546
2024 |
131/185 |
| Average annual personal income after taxes |
$3,164
2026 |
139/197 |
| Income share by richest 10% |
24.7%
2019 |
124/169 |
| Income share by poorest 10% |
3%
2019 |
64/169 |
| Government expenditure, % of GDP |
41.1%
2024 |
48/195 |
| Consumer prices inflation |
11.2%
2022-2023 |
27/195 |
| Unemployment rate |
4.05%
2020 |
124/196 |
| Population |
344750
|
174/197 |
Government spending, deficit, and debt by year
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 2024 | 41.1% | 45.3% | -2.34% |
| 2023 | 41.6% | 41.8% | -0.95% |
| 2022 | 42% | 42.8% | -6.5% |
| 2021 | 44.4% | 48.5% | 2.38% |
| 2020 | 43.4% | 48% | -1.95% |
| 2019 | 39.8% | 45.1% | 2.81% |
| 2018 | 33.3% | 45.3% | 6.26% |
| 2017 | 37.1% | 52.6% | -1.2% |
| 2016 | 35.2% | 42.5% | -0.72% |
| 2015 | 42.4% | 36.3% | -8.66% |
| 2014 | 23.3% | 20.2% | 1.44% |
| 2013 | 22.9% | 18.6% | -0.25% |
| 2012 | 24.5% | 19.3% | -1.7% |
| 2011 | 25.1% | 21.3% | -2.19% |
| 2010 | 28.3% | 20.2% | -2.63% |
| 2009 | 27.6% | 21.1% | -0.85% |
| 2008 | 27.8% | 21.2% | -0.04% |
| 2007 | 22.5% | 19.5% | 0.28% |
| 2006 | 20.1% | 22.2% | 0.49% |
| 2005 | 18.3% | 26.3% | 1.86% |
| 2004 | 18.5% | 30.4% | 0.8% |
| 2003 | 18.8% | 38.3% | -1.35% |
| 2002 | 22.3% | 38.8% | -3.63% |
| 2001 | 22.3% | 37% | -3.33% |
| 2000 | 25.4% | 36.1% | -6.28% |
| 1999 | 23.9% | 30.6% | -0.55% |
| 1998 | 27.9% | 28% | -6.65% |
| 1997 | 22.2% | 22.9% | -0.51% |
| 1996 | 24.5% | 23.1% | -1.78% |
| 1995 | 28% | 24.1% | -2.59% |
| 1994 | 24.4% | 21.6% | -1.49% |
| 1993 | 26.2% | 20.3% | -3.67% |
| 1992 | 31.8% | 21% | -2.32% |
| 1991 | 33.2% | 15.9% | -2.81% |
Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20).
GeoRank.org/economy/vanuatu | CC BY
This chart shows Vanuatu's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 34 years, Vanuatu recorded a fiscal deficit in 26 of them, with an average annual deficit equal to 1.49% of GDP. In 2024, government spending reached $459M (41.1% of GDP), with a deficit of 2.34%.
The national debt reached $507M, ranking 175th out of 185 countries by total size, with a debt-to-GDP ratio of 45.3%, ranking 119th.
Inflation rate by year
| Year | Inflation |
|---|---|
| 2023 | 11.2% |
| 2022 | 6.68% |
| 2021 | 2.34% |
| 2020 | 5.33% |
| 2019 | 2.76% |
| 2018 | 2.33% |
| 2017 | 3.08% |
| 2016 | 0.84% |
| 2015 | 2.48% |
| 2014 | 0.8% |
| 2013 | 1.46% |
| 2012 | 1.35% |
| 2011 | 0.87% |
| 2010 | 2.76% |
| 2009 | 4.3% |
| 2008 | 4.84% |
| 2007 | 3.94% |
| 2006 | 2.04% |
| 2005 | 1.2% |
| 2004 | 1.42% |
| 2003 | 3.02% |
| 2002 | 1.96% |
| 2001 | 3.58% |
| 2000 | 2.54% |
| 1999 | 2% |
| 1998 | 3.28% |
| 1997 | 2.83% |
| 1996 | 0.91% |
| 1995 | 2.23% |
| 1994 | 2.3% |
| 1993 | 3.57% |
| 1992 | 4.06% |
| 1991 | 6.47% |
| 1990 | 4.76% |
| 1989 | 7.75% |
| 1988 | 8.76% |
| 1987 | 16% |
| 1986 | 4.77% |
| 1985 | 1.07% |
| 1984 | 5.52% |
| 1983 | 1.65% |
| 1982 | 6.67% |
| 1981 | 26.8% |
| 1980 | 11.2% |
| 1979 | 4.17% |
| 1978 | 6.41% |
| 1977 | 5.74% |
Data sources: World Bank | Economy & Growth (1977–2023, retrieved 2026-04-06).
GeoRank.org/economy/vanuatu | CC BY
Over the past 20 years, Vanuatu has had an average annual inflation rate of 3.1%. In 2023, inflation was 11.2%. The bar chart above shows consumer price inflation by year.
Balance of trade
|
Vanuatu
|
Rank | |
|---|---|---|
|
Current account balance
|
-$127M
2022 |
90/190 |
| Current account balance, % of GDP |
-12.1%
2022 |
166/190 |
| Goods imports |
$350M
2022 |
177/189 |
| Goods exports |
$73.6M
2022 |
175/189 |
| Service imports |
$230M
2022 |
171/189 |
| Service exports |
$78.5M
2022 |
175/189 |
| Imports of goods and services, % of GDP |
54.2%
2022 |
64/181 |
| Exports of goods and services, % of GDP |
9.43%
2022 |
181/193 |
Vanuatu top 10 trading partners
Vanuatu's biggest trading partner accounting for 27.6% of all exports and imports is Australia, with a trade balance between the two of -$76.1M: Vanuatu exports $7.18M worth of goods and services to Australia and imports $83.3M.
Below is the list of the top 10 trade partners of Vanuatu.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
Australia
|
$90.4M | 27.6% | $7.18M | $83.3M | Processed food, beverages & tobacco | Machinery & equipment |
| 2 |
Singapore
|
$51.3M | 15.6% | $271K | $51.1M | Processed food, beverages & tobacco | Raw materials & minerals |
| 3 |
New Zealand
|
$42.9M | 13.1% | $7.25M | $35.6M | Processed food, beverages & tobacco | Chemicals & pharma |
| 4 |
Fiji
|
$27.5M | 8.39% | $5.14M | $22.4M | Raw agricultural goods | Processed food, beverages & tobacco |
| 5 |
China
|
$19.7M | 6% | $257K | $19.4M | Raw agricultural goods | Machinery & equipment |
| 6 |
Malaysia
|
$16.3M | 4.97% | $13M | $3.32M | Processed food, beverages & tobacco | Processed food, beverages & tobacco |
| 7 |
Philippines
|
$12.4M | 3.77% | $11.5M | $916K | Raw agricultural goods | Processed food, beverages & tobacco |
| 8 |
Japan
|
$10.6M | 3.24% | $3.35M | $7.29M | Animal & marine products | Machinery & equipment |
| 9 |
France
|
$10.6M | 3.23% | $596K | $10M | Processed food, beverages & tobacco | Machinery & equipment |
| 10 |
Papua New Guinea
|
$7.34M | 2.24% | $3.24M | $4.1M | Animal & marine products | Raw materials & minerals |
Top 10 exports
|
Vanuatu
|
Rank | |
|---|---|---|
| Transport & tourism services | $187M | 145/188 |
| Processed food, beverages & tobacco | $23.2M | 152/192 |
| Raw agricultural goods | $20.1M | 143/193 |
| Animal & marine products | $12M | 149/192 |
| Business & finance services | $8.97M | 171/188 |
| IT & IP services | $6.9M | 159/183 |
| Government & miscellaneous services | $5.61M | 150/180 |
| Chemicals & pharma | $3.43M | 161/193 |
| Miscellaneous | $1.59M | 130/191 |
| Machinery & equipment | $1.1M | 181/193 |
Top 10 imports
|
Vanuatu
|
Rank | |
|---|---|---|
| Transport & tourism services | $172M | 168/188 |
| Raw materials & minerals | $58.9M | 181/193 |
| Machinery & equipment | $58.5M | 184/193 |
| Processed food, beverages & tobacco | $39.6M | 185/193 |
| Chemicals & pharma | $33.4M | 181/193 |
| Textiles & consumer goods | $24.6M | 184/193 |
| Business & finance services | $24.3M | 176/188 |
| Raw agricultural goods | $19.7M | 186/193 |
| Metals | $15.5M | 185/193 |
| Wood & paper products | $12.6M | 182/193 |
Economic freedom indices
|
Vanuatu
|
Rank | |
|---|---|---|
| Economic freedom | 61.1 | 92/197 |
| Property rights | 62.1 | 65/182 |
| Government integrity | 48.3 | 70/182 |
| Judicial effectiveness | 67.9 | 51/182 |
| Tax burden | 96.9 | 9/182 |
| Government spending | 48.1 | 140/180 |
| Fiscal health | 78.8 | 83/181 |
| Business freedom | 50.3 | 139/182 |
| Labor freedom | 41 | 168/182 |
| Monetary freedom | 72.1 | 116/180 |
| Trade freedom | 62 | 142/181 |
| Investment freedom | 65 | 56/181 |
| Financial freedom | 40 | 130/181 |
Economic freedom by year
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2026 | 61.1 | 67.9 | 96.9 | 48.1 | 78.8 |
| 2025 | 61.8 | 71.3 | 97.6 | 43.1 | 85.4 |
| 2024 | 62.2 | 71 | 98.8 | 45 | 90.4 |
| 2023 | 62.1 | 45.5 | 98 | 45.5 | 95.4 |
| 2022 | 62.9 | 71.2 | 96.8 | 60.1 | 96.1 |
| 2021 | 60.5 | 34.1 | 96.8 | 61.7 | 94.9 |
| 2020 | 60.7 | 36.1 | 97.1 | 61.1 | 78.4 |
| 2019 | 56.4 | 36.4 | 97.3 | 54.1 | 15.3 |
| 2018 | 69.5 | 47.1 | 97 | 78.5 | 98 |
| 2017 | 67.4 | 33 | 97 | 80.4 | 99.1 |
| 2016 | 60.8 | - | 97 | 86.1 | - |
| 2015 | 61.1 | - | 97.2 | 83.8 | - |
| 2014 | 59.5 | - | 97.3 | 81.7 | - |
| 2013 | 56.6 | - | 97.3 | 80.5 | - |
| 2012 | 56.6 | - | 97 | 79.9 | - |
| 2011 | 56.7 | - | 96.1 | 79.1 | - |
| 2010 | 56.4 | - | 94.9 | 84.3 | - |
| 2009 | 58.4 | - | 95.3 | 84 | - |
Data sources: The Heritage Foundation | Economic Freedom Index (2009–2026, retrieved 2026-03-09).
GeoRank.org/economy/vanuatu | CC BY
Vanuatu is ranked 82/174 for economic freedom with a score of 61.1, compared to 90/177 and a score of 58.4 in 2009.
Other economic metrics
|
Vanuatu
|
Rank | |
|---|---|---|
| Services, % of GDP |
59.1%
2022 |
81/191 |
| Industry, % of GDP |
7.37%
2022 |
191/194 |
| Agriculture, forestry, and fishing, % of GDP |
24.3%
2022 |
23/193 |
|
GNI, Atlas method
|
$1.28B
2024 |
182/194 |
| GNI per capita, PPP |
$4,140
2024 |
160/191 |
| Total reserves including gold |
$615M
2024 |
152/177 |
|
Net foreign direct investment
|
-$9.21M
2022 |
50/189 |
|
Net inflows of foreign direct investment
|
$28.9M
2024 |
159/193 |
|
Net outflows of foreign direct investment
|
$2.79M
2024 |
127/193 |
|
Servicing debt to the IMF, % of GNI
|
2.04%
2024 |
90/121 |
| Poverty at national poverty lines |
15.9%
2020 |
125/176 |
|
Gross capital formation, % of GDP
|
38.3%
2022 |
9/178 |
Compare Vanuatu vs other countries
GDP per capita map
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/vanuatu | CC BY
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Data sources:
- World Bank | Economy & Growth (1977–2024, retrieved 2026-04-06)
- International Monetary Fund (IMF) | Fiscal Monitor (1991–2024, retrieved 2026-02-20)
- The Heritage Foundation | Economic Freedom Index (2009–2026, retrieved 2026-03-09)
- U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
- TradeMap (2011–2023, retrieved 2026-02-08)
- United Nations | World Population Prospects (2026, retrieved 2026-03-10)
- LivingCost (2026, retrieved 2025-10-14)
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.