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| Capital city: |
Vila |
| Surface area: |
12,200 sq km |
| Population: |
235,000 |
| Official language(s): |
Bislama, English, French |
| Head of State: |
President HE Kalkot Matas Kelekele |
| Head of Government: |
Prime Minister The Hon Edward Nipake Natapei |
| Australian exports to Vanuatu: |
A$84 million |
| Australian imports from Vanuatu: |
A$2 million |
| Vanuatu's principal export destinations: |
Thailand, India, Japan |
| Vanuatu's principal import sources: |
Australia, Singapore, New Zealand | (Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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Economic climate
Key economic indicators and statistics for 2008:
- GDP – US$554 million
- GDP per capita – US$2,301
- Real GDP growth – 3 per cent
- Inflation – 4.3 per cent
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet)
Government revenues are raised mainly from the customs import duties and the Value Added Tax (VAT).
The country has a dual economy, based on:
- Agriculture - small subsistence holder, established plantations, ranches and large farms with mixed cash crops).
- Offshore financial services - Vanuatu is a tax haven, free of corporate tax, income tax, estate duties and non-capital gains.
Overall, the government employs up to 30 per cent of active population, and the second major employer being tourism and the transport industries. |
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Political climate
The Head of State is the President of the Republic, elected for five years by an electoral college. Legislature is made up of one single chamber with 52 Members of Parliament, general elections are held every four years (the last eelctions were in march 1998). The legal system is based on English law, Supreme Court of Vanuatu |
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Trade relations and statistics
Major Australian exports to Vanuatu (2007-08):
- Liquefied propane & butane - A$6 million
- Prams, toys, games and sporting goods - A$3 million
- Alcoholic beverages - A$3 million
- Tobacco, manufactured - A$3 million
Major Australian imports from Vanuatu (2007-08):
- No significant imports were recorded.
(Source: Department of Foreign Affairs and Trade - Country economic fact sheet) |
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