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How they Live…
Main Business SectorsAgriculture
• Main Products• Copra, cocoa, coffee, cattle, timber, kava(root)• Copra is dried coconut albumen, main cash
crop
FisheriesTourismExporting
Economic Growth
Tourism Very rapid growth in this area Vast increase in total # of Tourists that come in
everyday.• Via Airline, Cruise Ship• Positive sign of Economic Growth
2005: Year of Tourism Over 50,000 visitors in 1997
Currency
Vatu(VT) Exchange Rate
100 Vatu = 0.927 US Dollars 100 Vatu = 1.309 New Zealand Dollars
• If you have remaining NZ money!
As of September 9th 2005 Other currencies may be accepted at shops
and restaurants (US or Australian mainly)
Inflation/Imports/Exports
Interest rates on the rise. From 1996 to 1997
Total inflation up 2.8%• Clothing and Footwear prices up 6.7%• Transport and Communications up 5.4%
Imports Prices in Vanuatu determined by Australian
imports and inflation rates $138 million in 2002
Exports $79 million in 2002
Basic Economy
GDP Equaled $563 million (2003) is the total value of final goods and services
produced within a country's borders in a year • United States GDP equaled $10.4 trillion
Tourism speaks for 40% of GDP in 2003 Agricultural Exports make up 20% of GDP
Per Capita Income = $1,180 (2003)