Vanuatu
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Country information
Discover how Vanuatu combines natural beauty and sustainable development, promoting an innovative and eco-responsible future on Innovando.News: Vanuatu, located in the heart of the Pacific Ocean, is an island republic made up of 83 islands, a true natural paradise that offers breathtaking landscapes including active volcanoes, tropical forests and splendid beaches. The capital, Port Vila, is the main economic and administrative center, while Luganville is an important commercial hub. With a population of approximately 312.000 inhabitants, the country maintains a strong cultural identity, with more than 100 languages spoken and traditions such as ritual jumping, which inspired modern bungee jumping. Vanuatu's economy is based on agriculture, tourism and the export of products such as copra and cocoa, with a growing commitment to sustainability and environmental protection. Independence obtained in 1980 marked an important chapter in its history, making it an example of cultural and political resistance.
Summary data on Vanuatu
- Total population: Approximately 322.000 inhabitants (2024).
- Population growth rate: Around +2% per year.
- Capital: Port Vila, with approximately 50.000 inhabitants.
- Main cities: Luganville, Norsup, Saratamata.
- Countries bordering: No land borders, as it is an island in the Pacific.
- Nominal GDP: Approximately USD 1,2 billion (2024).
- GDP per capita: Approximately 3.700 USD.
- GDP growth rate: +3,2% (2024).
- Inflation: About 2,5%.
- Unemployment rate: About 4,5%.
- Trade balance: Negative.
- Major business partners: Australia, New Zealand, China, United States.
- Public debt: About 30% of GDP.
- Public spending on R&D: About 0,2% of GDP.
- Main economic sectors: Agriculture (coconut, cocoa, copra), fishing, tourism, services.
- Currency: Vatu (VUV), 1 USD ≈ 120 VUV (2024).
- Interest rate: About 4%.
- Foreign exchange reserves: Approximately USD 500 million.
- Main exports: Copra, cocoa, fish, wood, pepper.
- Main imports: Petroleum products, machinery, food, vehicles.
- Human Development Index (HDI): 0,610 (2024), "medium" category.
- Literacy rate: About 87%.
- Life expectancy: About 74 years old.
- Position in the Global Innovation Index: 125st place (2024).
- Corruption Perception Index: 52/100, ranking 61rd.
