Vanuatu - GDP (current US$)

The latest value for GDP (current US$) in Vanuatu was $881,547,900 as of 2020. Over the past 41 years, the value for this indicator has fluctuated between $934,521,600 in 2019 and $113,781,800 in 1981.

Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1979 $119,258,800
1980 $121,185,500
1981 $113,781,800
1982 $114,501,900
1983 $117,389,600
1984 $144,482,500
1985 $131,856,400
1986 $126,498,900
1987 $139,464,200
1988 $158,351,400
1989 $154,013,200
1990 $168,879,200
1991 $201,334,200
1992 $209,088,800
1993 $200,491,900
1994 $233,701,300
1995 $249,333,200
1996 $261,370,000
1997 $272,771,200
1998 $262,293,400
1999 $268,007,000
2000 $272,014,700
2001 $257,926,900
2002 $262,596,600
2003 $314,471,300
2004 $364,996,900
2005 $394,962,600
2006 $439,376,800
2007 $516,392,900
2008 $590,748,200
2009 $592,622,500
2010 $670,713,200
2011 $770,153,300
2012 $747,839,700
2013 $758,304,400
2014 $772,315,700
2015 $730,870,600
2016 $780,889,600
2017 $880,043,600
2018 $914,727,900
2019 $934,521,600
2020 $881,547,900

Limitations and Exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts