Vanuatu’s net trade position under the MSG Trade Agreement has remained negative from 2020 to 2024, with trade deficits ranging from -987 million to -3.4 billion Vatu. The largest deficit occurred in 2023, reflecting a widening gap between MSG imports and exports. Despite the agreement’s goal of enhancing regional trade benefits, these figures suggest limited export gains or rising dependency on MSG imports. Strengthening domestic production and market access within MSG partners is key to reversing this trend and achieving long-term benefits.

My progress target: 2021 - Cloudy

Sub-categories

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Headline data

Benefits/value accrued through various trade agreements
Year Value
2020 -2166
2021 -1925
2022 -987
2023 -3354
2024 -2539

Source: Customs & Inland Revenue Department

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

Yes (Melanesian Spearhead Group Trade Agreement Only)
Definition

The “Benefits/Value Accrued Through Melanesian Spearhead Group (MSG) Trade Agreement Only” indicator measures the economic gains or benefits that a country derives specifically from its participation in the Melanesian Spearhead Group (MSG) Trade Agreement. This includes increased trade, investment, and other economic activities that are directly attributable to the preferential trade terms and cooperation facilitated by the MSG Trade Agreement.
Concept

This indicator tracks the economic impact of the MSG Trade Agreement, which is a regional trade pact aimed at promoting economic cooperation, trade liberalization, and integration among Melanesian countries. The value accrued through this agreement refers to the tangible benefits, such as increased exports, imports, investment flows, job creation, and economic growth, that are directly linked to the trade provisions of the MSG agreement. The focus is exclusively on benefits derived from the MSG Trade Agreement, excluding any other trade agreements or economic arrangements.
Disaggregation

Country
Rationale

Monitoring the benefits or value accrued through the MSG Trade Agreement is crucial for assessing the effectiveness of regional trade agreements in promoting economic development and integration among Melanesian countries. By quantifying the economic gains from this agreement, policymakers and stakeholders can evaluate the success of the trade agreement in achieving its objectives, such as boosting intra-regional trade, enhancing market access, and fostering economic cooperation.
Method of Computation

To compute the “Benefits/Value Accrued Through Melanesian Spearhead Group (MSG) Trade Agreement Only,” first identify and categorize the economic benefits specifically related to increased trade volumes. Focus on measuring these trade benefits in terms of both value (monetary worth) and volume (physical quantities). Collect data on the value and volume of goods exported and imported under the MSG Trade Agreement. Ensure that this data is directly attributable to the MSG Trade Agreement. Aggregate the total trade value and volume associated with the agreement over the specified period.

Formula: Total Trade Value (MSG)= Total Value of Exports (MSG) + Total Value of Imports (MSG) Total Trade Volume (MSG)= Total Volume of Exports (MSG) + Total Volume of Imports (MSG)
Sustainable Development Goal Indicator Alignment

17.11.1
Unit of Measurement

Vatu in Millions
Frequency of Collection

Monthly
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