Economic Overview
This south pacific island economy is based primarily on small-scale agriculture, which provides a living for 65% of the population. fishing, offshore financial services, and tourism, with more than 60,000 visitors in 2005, 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. 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 through improved air connections, resort development, and cruise ship facilities. agriculture, especially livestock farming, is a second target for growth. australia and new zealand are the main suppliers of tourists and foreign aid.
Environmental Issues
Most of the population does not have access to a reliable supply of potable water; deforestation
Government Type
Parliamentary republic
Population
215,446 (july 2008 est.)
Location
Oceania, group of islands in the south pacific ocean, about three-quarters of the way from hawaii to australia
Area
Total: 12,200 sq km
land: 12,200 sq km
water: 0 sq km
note: includes more than 80 islands, about 65 of which are inhabited
Slightly larger than connecticut
Country Aliases
Conventional long form: republic of vanuatu
conventional short form: vanuatu
local long form: ripablik blong vanuatu
local short form: vanuatu
former: new hebrides
Capital
Name: port-vila (on efate)
geographic coordinates: 17 44 s, 168 19 e
time difference: utc+11 (16 hours ahead of washington, dc during standard time)
International Disputes
Matthew and hunter islands east of new caledonia claimed by vanuatu and france
Sources: Central Intelligence Agency (CIA)
