Vanuatu's GDP changed from approximately $121M in 1980 to $1B 289M in 2024, showing an overall 965.3% sharply increased during the period.
The lowest GDP was recorded in 1981 at $114M, and the highest in 2024 at $1B 289M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.5%.
For comparison, the average annual growth rate of Solomon Islands was 5.2%, and that of Fiji was 3.5%.
Overview of Vanuatu's GDP (1980–2024)
The Gross Domestic Product (GDP) of Vanuatu recorded a 965.3% sharply increased from 1980 to 2024.
The average GDP during this period was $466M 22K, and the median was $273M.
GDP fluctuated within a range of $1B 175M, with a standard deviation of $337M 165K.
The average annual change was $24M 325K.
Vanuatu GDP from 1980 to 2024
The total market value of goods and services produced annually in Vanuatu.
Highest and Lowest GDP Records
- Lowest GDP: 1981, $114M
- Highest GDP: 2024, $1B 289M
- Most Recent GDP: 2024, $1B 289M
Notable Annual GDP Changes
- 2023: Significant increase in GDP
- 2021: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Vanuatu's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $930M → $1B 8M
- Outcome: increased
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $517M → $590M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $272M → $257M
- Outcome: declined
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $273M → $262M
- Outcome: declined
Key Economic Indicators of Vanuatu (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 121M | $ 1,053.85 | $ 944.08 | $ 109M | 5.451 % | 0.955 % | 0 % | 0 % | 115,000 people |
1981 | $ 114M | $ 956.14 | $ 1,042.36 | $ 124M | 4.375 % | 12.34 % | 0 % | 0 % | 119,000 people |
1982 | $ 114M | $ 930.89 | $ 1,091.98 | $ 134M | 1.98 % | 10.34 % | 0 % | 0 % | 123,000 people |
1983 | $ 117M | $ 931.69 | $ 1,141.06 | $ 144M | 3.01 % | 7.984 % | 0 % | 0 % | 126,000 people |
1984 | $ 144M | $ 1,111.40 | $ 1,255.61 | $ 163M | 9.577 % | 15.127 % | 0 % | 0 % | 130,000 people |
1985 | $ 132M | $ 976.75 | $ 1,259.82 | $ 170M | 1.001 % | 1.062 % | 0 % | 0 % | 135,000 people |
1986 | $ 128M | $ 918.67 | $ 1,246.35 | $ 173M | -0.149 % | 4.756 % | 0 % | 0 % | 139,000 people |
1987 | $ 139M | $ 989.13 | $ 1,222.67 | $ 172M | -2.894 % | 9.51 % | 0 % | 0 % | 141,000 people |
1988 | $ 158M | $ 1,092.05 | $ 1,210.01 | $ 175M | -1.695 % | 1.697 % | 0 % | 0 % | 145,000 people |
1989 | $ 154M | $ 1,054.90 | $ 1,268 | $ 185M | 1.533 % | 7.605 % | 0 % | 0 % | 146,000 people |
1990 | $ 169M | $ 1,141.04 | $ 1,449.46 | $ 215M | 11.697 % | 2.742 % | 0 % | 0 % | 148,000 people |
1991 | $ 201M | $ 1,333.38 | $ 1,514.94 | $ 229M | 3.147 % | -2.728 % | 0 % | -1.989 % | 151,000 people |
1992 | $ 209M | $ 1,357.70 | $ 1,558.55 | $ 240M | 2.584 % | -2.562 % | 0 % | -1.442 % | 154,000 people |
1993 | $ 200M | $ 1,277.01 | $ 1,576.52 | $ 248M | 0.736 % | -1.268 % | 0 % | -2.863 % | 157,000 people |
1994 | $ 234M | $ 1,422.85 | $ 1,678.87 | $ 276M | 9.079 % | -3.478 % | 0 % | -0.849 % | 164,000 people |
1995 | $ 249M | $ 1,479.57 | $ 1,687.42 | $ 284M | 1.005 % | -2.153 % | 0 % | -1.93 % | 169,000 people |
1996 | $ 261M | $ 1,511.70 | $ 1,713.77 | $ 296M | 2.328 % | -1.229 % | 0 % | -1.225 % | 173,000 people |
1997 | $ 273M | $ 1,537.62 | $ 1,782.52 | $ 316M | 4.907 % | 0.342 % | 0 % | -0.047 % | 177,000 people |
1998 | $ 262M | $ 1,441.11 | $ 1,777.53 | $ 324M | 1.176 % | 2.379 % | 0 % | -5.999 % | 182,000 people |
1999 | $ 268M | $ 1,435.66 | $ 1,763.52 | $ 329M | 0.337 % | -6.92 % | 0 % | 0.206 % | 187,000 people |