Diplomatic representation from the US:
the US does not have an embassy in Vanuatu; the ambassador to Papua
New Guinea is accredited to Vanuatu
Flag description:
two equal horizontal bands of red (top) and green with a black
isosceles triangle (based on the hoist side) all separated by a
black-edged yellow stripe in the shape of a horizontal Y (the two
points of the Y face the hoist side and enclose the triangle);
centered in the triangle is a boar's tusk encircling two crossed
namele leaves, all in yellow
Economy Vanuatu
Economy - overview:
The economy is based primarily on subsistence or small-scale
agriculture, which provides a living for 65% of the population.
Fishing, offshore financial services, and tourism, with about 50,000
visitors in 1997, are other mainstays of the economy. Mineral
deposits are negligible; the country has no known petroleum
deposits. A small light industry sector caters to the local market.
Tax revenues come mainly from import duties. Economic development is
hindered by dependence on relatively few commodity exports,
vulnerability to natural disasters, and long distances from main
markets and between constituent islands. A severe earthquake in
November 1999 followed by a tsunami, caused extensive damage to the
northern island of Pentecote and left thousands homeless. Another
powerful earthquake in January 2002 caused extensive damage in the
capital, Port-Vila, and surrounding areas, and also was followed by
a tsunami. GDP growth rose less than 3% on average in the 1990s. In
response to foreign concerns, the government has promised to tighten
regulation of its offshore financial center. In mid-2002 the
government stepped up efforts to boost tourism. Australia and New
Zealand are the main suppliers of foreign aid.
GDP:
purchasing power parity - $563 million (2002 est.)
GDP - real growth rate:
-0.3% (2002 est.)
GDP - per capita:
purchasing power parity - $2,900 (2002 est.)
GDP - composition by sector:
agriculture: 26%
industry: 12%
services: 62% (2000 est.)
Population below poverty line:
NA%
Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%