Flag Vanuatu

Product Exports (2018): $167M, Rank 179 of 222

Exports Per Capita (2018): $571, Rank 202 of 219

Product Imports (2018): $268M, Rank 193 of 221

Imports Per Capita (2018): $916, Rank 212 of 219

Service Exports (2014): $324M, Rank 146 of 176

Service Imports (2014): $134M, Rank 166 of 175

GDP (2018): $914M, CURRENT US$
Rank 184 of 196

GDP growth (2008 - 2018): 50.4%, CURRENT US$
Rank 80 of 196

GDP PC (2018): $3,124, CURRENT US$
Rank 136 of 196

GDP PC GROWTH (2008 - 2018): 15.5%, CURRENT US$
Rank 113 of 196

Overview: In 2018 Vanuatu was the number 184 economy in the world in terms of GDP (current US$), the number 179 in total exports, and the number 193 in total imports. In 2018, Vanuatu exported $167M and imported $268M, resulting in a negative trade balance of -$101M. In 2018, Vanuatu's exports per capita were $571 and its imports per capita were $916.

Trade: The top exports of Vanuatu are Non-fillet Frozen Fish ($92.1M), Scrap Vessels ($21.4M), Perfume Plants ($14.9M), Molluscs ($8.7M), and Copra ($7.41M). The top imports of Vanuatu are Refined Petroleum ($30.7M), Delivery Trucks ($11.4M), Poultry Meat ($8.07M), Cars ($6.85M), and Baked Goods ($6.11M).

Destinations: Vanuatu exports mostly to Japan ($63.6M), Turkey ($21.4M), China ($15.2M), Thailand ($15.1M), and South Korea ($12.6M), and imports mostly from China ($63M), Australia ($51.9M), Fiji ($29.7M), Singapore ($22.6M), and New Zealand ($21.5M).

Product Exports

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Top Export (2018): Non-fillet Frozen Fish, $92.1M

Top Destination (2018): Japan, $63.6M

In 2018 Vanuatu exported a total of $167M, making it the number 179 exporter in the world. During the last five reported years the exports of Vanuatu have changed by -$180M from $347M in 2013 to $167M in 2018.

The most recent exports are led by Non-fillet Frozen Fish ($92.1M), Scrap Vessels ($21.4M), Perfume Plants ($14.9M), Molluscs ($8.7M), and Copra ($7.41M). The most common destination for the exports of Vanuatu are Japan ($63.6M), Turkey ($21.4M), China ($15.2M), Thailand ($15.1M), and South Korea ($12.6M).

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Product Imports

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Top Import (2018): Refined Petroleum, $30.7M

Top Origin (2018): China, $63M

In 2018 Vanuatu imported $268M, making it the number 193 trade destination in the world. During the last five reported years the imports of Vanuatu changed by -$623M from $891M in 2013 to $268M in 2018.

The most recent imports of Vanuatu are led by Refined Petroleum ($30.7M), Delivery Trucks ($11.4M), Poultry Meat ($8.07M), Cars ($6.85M), and Baked Goods ($6.11M). The most common import partners for Vanuatu are China ($63M), Australia ($51.9M), Fiji ($29.7M), Singapore ($22.6M), and New Zealand ($21.5M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Vanuatu Exports Services (2014): $324M

Vanuatu Imports Services (2014): $134M

In 2014, Vanuatu exported $324M worth of services. The top services exported by Vanuatu in 2014 were Travel ($257M), Transportation ($45M), Government services, n.i.e. ($13.8M), Other business services ($4.04M), and Insurance services ($3.39M).

The top services imported by Vanuatu in 2014 were Transportation ($74.3M), Travel ($36.8M), Other business services ($11.9M), Insurance services ($5.6M), and Computer and information services ($3.25M).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Vanuatu. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Economic Complexity

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Most Specialized Products by RCA Index

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Vanuatu has a high level of specialization in Scrap Vessels (1.22k), Perfume Plants (486), Non-fillet Frozen Fish (387), Molluscs (88.2), and Cocoa Beans (35.2). Specialization is measured using RCA, an index that takes the ratio between Vanuatu observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Vanuatu according to the product complexity index (PCI) are Shaving and toilet preparations nes, deodorizers (0.068), Passenger and goods transport ships, boats (-0.31), Sauce, condiments, mixed seasoning and mustard (-0.38), Meat of bovine animals, fresh or chilled (-0.49), and Pearls, natural or cultured, not mounted or set (-0.57). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Vanuatu according to the relatedness index, are Crustaceans (0.053), Gold (0.051), Crude Petroleum (0.049), Other Oily Seeds (0.049), and Coconuts, Brazil Nuts, and Cashews (0.047). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Vanuatu is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.