The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper describes economic developments in Vanuatu during the 1990s. In 1993, real GDP growth rebounded to 41/2 percent. Agricultural output recovered from the effects of the 1992 cyclones, and construction activities picked up on account of cyclone rehabilitation and a new stadium. Reflecting increased import demand associated with these activities, as well as substantially lower export prices and weak tourism receipts, the external current account registered a deficit equivalent to 6 percent of GDP. Inflation slowed to less than 2 percent in line with the trend in import prices.