countryaah, Vanuatu is one of the least developed states in the
world. The industry is very limited, transport conditions
are poor and the lack of educated, domestic labor is very
large. About 70 percent of the population lives on
agriculture. The traditional forage crop is copious, but
production is uncertain due to tropical storms and large
variations in demand. During the 1990s, the tourism industry
has grown increasingly important. Similarly, financial
services companies have established themselves in the
Most of the export income comes from copra and beef.
Vanuatu also earns revenue by selling fishing permits to
foreign fishing fleets.
The most important import goods are machinery and
transport equipment, industrial semi-finished products, food
and fossil fuels. Imports come mainly from China, Singapore
and the United States, while exports are primarily to
Thailand and Ivory Coast. The trade balance shows deficits
annually, but this is offset by revenues from tourism,
financial services, convenience registration of vessels and
assistance from mainly Australia, New Zealand and France.
Income and corporate profits are not taxed in Vanuatu.