Vanuatu’s debt-to-GDP ratio rose from 41% in 2015 to a peak of 69% in 2021, before easing slightly to 66% in 2022. This upward trend reflects increased borrowing for infrastructure and economic recovery, particularly in response to the pandemic. The ratio remains well above the 2030 target of a 30% reduction, underscoring ongoing fiscal pressure. Continued efforts to improve debt sustainability and manage public sector liabilities will be critical for long-term financial resilience.

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Sub-categories

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Headline data

Debt ratio to GDP (inclusive of SOE generated debt)
Year Value Series
2015 41 Debt Ratio to GDP (%)
2016 51 Debt Ratio to GDP (%)
2017 59 Debt Ratio to GDP (%)
2018 63 Debt Ratio to GDP (%)
2019 66 Debt Ratio to GDP (%)
2020 72 Debt Ratio to GDP (%)
2021 73 Debt Ratio to GDP (%)
2022 71 Debt Ratio to GDP (%)
2015 25284 Debt (million vatu)
2016 32288 Debt (million vatu)
2017 39486 Debt (million vatu)
2018 42762 Debt (million vatu)
2019 46458 Debt (million vatu)
2020 48274 Debt (million vatu)
2021 47968 Debt (million vatu)
2022 49445 Debt (million vatu)
2015 61500 GDP Constant (million vatu)
2016 63635 GDP Constant (million vatu)
2017 66443 GDP Constant (million vatu)
2018 68370 GDP Constant (million vatu)
2019 70586 GDP Constant (million vatu)
2020 67062 GDP Constant (million vatu)
2021 66021 GDP Constant (million vatu)
2022 69445 GDP Constant (million vatu)

Source: Department of Finance and Treasury

Geographical Area: Vanuatu

Unit of Measurement:

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 “Debt Ratio to GDP (Inclusive of SOE-Generated Debt)” indicator measures the ratio of a country’s total public debt, including debt generated by State-Owned Enterprises (SOEs), to its Gross Domestic Product (GDP). This indicator expresses the total public debt as a percentage of the country’s GDP, providing an overview of the debt burden relative to the size of the economy.
Concept

This indicator tracks the level of public debt, including liabilities incurred by SOEs, in relation to the overall economic output. The inclusion of SOE-generated debt in this measure ensures that all public sector liabilities are accounted for, offering a comprehensive view of the country’s debt obligations. The debt-to-GDP ratio is a widely used metric to assess a country’s ability to manage and repay its debt, as it relates the total debt to the economic output that can be leveraged for debt servicing.
Disaggregation

Sector
Rationale

Monitoring the debt ratio to GDP, including SOE-generated debt, is crucial for assessing the fiscal health and sustainability of a country. A high debt-to-GDP ratio may indicate that a country could face difficulties in meeting its debt obligations without compromising economic growth, while a lower ratio suggests a more manageable debt burden. Including SOE debt provides a fuller picture of potential liabilities that could impact the government’s finances.
Method of Computation

To compute the “Debt Ratio to GDP (Inclusive of SOE-Generated Debt),” first collect data on the total public debt, including debt generated by State-Owned Enterprises (SOEs), and the GDP for the same reporting period. Then, calculate the debt-to-GDP ratio by dividing the total public debt by the GDP

Formula: Debt Ratio to GDP= Total Public Debt including SOE debt/GDP
Sustainable Development Goal Indicator Alignment

17.4.1
Unit of Measurement

Percentage
Frequency of Collection

Annually
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