Vanuatu’s GDP growth rate fluctuated over the past decade, reaching a high of 7.5% in 2016 before declining to 2.2% in 2018 and rebounding to 4.6% in 2019. The economy contracted sharply in 2020 with an estimated -3.5% growth rate, reflecting the combined impact of Cyclone Harold and the COVID-19 pandemic. Despite short-term volatility, medium-term growth averaged around 3%—just below the 4% target set for 2030.

By 2030 - increase by 4%: 2021 - Rainy

Sub-categories

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Headline data

GDP Growth Rate (annual/trends)
Year Value
2005 5.3
2006 8.5
2007 2.9
2008 5.6
2009 3.0
2010 1.3
2011 3.1
2012 1.0
2013 0.5
2014 3.1
2015 0.4
2016 4.7
2017 4.4
2018 2.9
2019 3.2
2020 -5.0

Source: Vanuatu Bureau of Statistics

Geographical Area: Vanuatu

Unit of Measurement: Percentage (%)

Footnote:

This table provides metadata for the actual indicator available from Vanuatu statistics closest to the corresponding global SDG indicator. Please note that even when the global SDG indicator is fully available from Vanuatuan statistics, this table should be consulted for information on national methodology and other Vanuatu-specific metadata information.

Proxy

No
Definition

The “GDP Growth Rate (Annual/Trends)” indicator measures the annual percentage change in a country’s Gross Domestic Product (GDP). GDP is the total monetary value of all goods and services produced within a country’s borders over a specific period, usually calculated annually. This indicator reflects the overall economic performance and health of an economy by showing how much the economy has grown or contracted compared to the previous year.
Concept

This indicator tracks the growth of a country’s economy over time, providing insights into the trends and patterns of economic expansion or contraction. The GDP growth rate is a key measure of economic performance, indicating how well an economy is doing in terms of increasing production, income, and wealth. It also reflects the effectiveness of economic policies and the impact of external factors such as global economic conditions, trade, and investment.
Disaggregation

Sector
Rationale

Monitoring the GDP growth rate is crucial for understanding the overall trajectory of an economy. A positive growth rate indicates that the economy is expanding, which generally leads to higher employment, increased income, and improved living standards. Conversely, a negative growth rate suggests economic contraction, which can lead to higher unemployment, reduced income, and potential economic challenges.
Method of Computation

To compute the “GDP Growth Rate (Annual/Trends),” first collect data on the GDP for the current year and the previous year. Then, calculate the growth rate by subtracting the previous year’s GDP from the current year’s GDP, dividing the result by the previous year’s GDP, and multiplying by 100 to express the growth rate as a percentage. For trend analysis, calculate the GDP growth rate for multiple years to observe patterns of economic growth or contraction over time.

Formula: GDP Growth Rate= (GDP (Current Year) – GDP (Previous Year)/GDP (Previous Year))*100
Sustainable Development Goal Indicator Alignment

8.1.1 (Tier 1)
Unit of Measurement

Percentage (%)
Frequency of Collection

Annually
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