Vanuatu’s trade under the MSG Trade Agreement recorded net negative values from 2020 to 2024, ranging from -987 million to -3.4 billion Vatu. The largest deficit occurred in 2023, suggesting an imbalance between MSG imports and exports despite preferential trade terms. These sustained deficits point to challenges in leveraging the agreement for export growth or competitiveness. Improving market access, product diversification, and export capacity will be key to reversing this trend and reaching the 15% export increase target by 2030.

My progress target: 2021 - Cloudy

Sub-categories

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Headline data

Trade by trade agreement (value)
Year Value
2020 -2166
2021 -1925
2022 -987
2023 -3354
2024 -2539

Source: Customs & Inland Revenue Department

Geographical Area: Vanuatu

Unit of Measurement: VT (vatu in millions)

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 (Melanesian Spearhead Group Trade Agreement Only)
Definition

The “Melanesian Spearhead Group (MSG) Trade Agreement Value” indicator measures the total monetary value of goods and services traded between member countries under the Melanesian Spearhead Group Trade Agreement. This includes the value of exports and imports specifically facilitated by the preferential trade terms and agreements set forth by the MSG.
Concept

This indicator tracks the economic value generated through trade activities among MSG member countries, which include Fiji, Papua New Guinea, Solomon Islands, Vanuatu, and the Kanak and Socialist National Liberation Front (FLNKS) of New Caledonia. The MSG Trade Agreement aims to promote economic integration and cooperation among these Melanesian countries by reducing trade barriers, enhancing market access, and fostering regional trade. The trade value represents the financial impact of these economic activities, capturing the total worth of goods and services exchanged under the agreement.
Disaggregation

Country, Sector & Type of Trade
Rationale

Monitoring the MSG Trade Agreement value is crucial for assessing the effectiveness of the agreement in fostering regional trade and economic development. A higher trade value indicates that member countries are benefiting from increased market access and trade opportunities, which can contribute to economic growth, job creation, and regional cooperation. Conversely, a lower trade value might suggest barriers to trade or underutilization of the agreement’s provisions.
Method of Computation

To compute the “Melanesian Spearhead Group (MSG) Trade Agreement Value,” first collect data on the total monetary value of goods and services exported and imported between MSG member countries under the trade agreement. Then, sum the value of all exports and imports facilitated by the agreement. This total represents the MSG Trade Agreement value. For trend analysis, compare the trade values over multiple periods to identify changes in regional trade dynamics.

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

17.11.1
Unit of Measurement

Vatu in millions
Frequency of Collection

Annual
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