Vanuatu: Interest payments (% of expense)

Key figures

What the numbers say

In 2023, Vanuatu's interest payments (% of expense) rose 0.29 percentage points on 2022 (from 2.68% to 2.96%).

Across the 17 yearly changes before that (1996 to 2022), the average change was +0.08 percentage points and a typical year strayed about 0.51 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 1.28 percentage points in 1999 and the biggest yearly fall was 0.73 percentage points in 2020. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2014 to 2023 the straight-line trend is downward, about 0.14 percentage points a year. A straight line explains 50% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2023, Vanuatu had the 59th highest value of the 78 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to Vanuatu in the 2023 ranking

• Kyrgyz Republic — 56th of 78: 3.16%
• Malta — 57th of 78: 3.09%
• Cyprus — 58th of 78: 3.05%
• Uzbekistan — 60th of 78: 2.95%
• Slovenia — 61st of 78: 2.79%
• Austria — 62nd of 78: 2.55%

What this measures

Interest payments include interest payments on government debt (including long-term bonds, long-term loans, and other debt instruments) to domestic and foreign residents. This indicator is expressed as percentage of total expenses which is any decrease in net worth resulting from a transaction.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

Regional and income-group figures are computed by the World Bank as a median.

All 21 values

Interest payments (% of expense) in nearby economies

• Australia — 2.97% (2022)
• Cambodia — 2.1% (2023)
• Fiji — 14.58% (2023)
• Kiribati — 0.75% (2023)
• Korea, Rep. — 4.43% (2023)
• Lao PDR — 16.99% (2022)
• Malaysia — 14.93% (2023)
• Marshall Islands — 0.46% (2020)
• Micronesia, Fed. Sts. — 0.6% (2020)
• Mongolia — 6.01% (2021)
• New Zealand

More public sector data for Vanuatu

• Net lending (+) / net borrowing (-) (current LCU) — 943.13 million (2023)
• Net lending (+) / net borrowing (-) (% of GDP) — 0.67% (2023)
• Grants and other revenue (current LCU) — 22.69 billion (2023)
• Grants and other revenue (% of revenue) — 49.28% (2023)
• Revenue, excluding grants (current LCU) — 34.2 billion (2023)
• Revenue, excluding grants (% of GDP) — 24.16% (2023)
• Taxes on goods and services (current LCU) — 17.96 billion (2023)
• Taxes on goods and services (% of revenue) — 39.01% (2023)
• Taxes on international trade (current LCU) — 4.9 billion (2023)
• Taxes on international trade (% of revenue)

Reading data like this

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Questions people ask

What is Vanuatu's interest payments (% of expense)?

2.96% in 2023, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is down 1.98 percentage points from 4.94% in 1990. The highest value was 4.94% in 1990 and the lowest 2.21% in 2010.

How does Vanuatu rank?

59th highest of 78 economies with data for 2023.

Is the latest change in interest payments (% of expense) unusual for Vanuatu?

In 2023, Vanuatu's interest payments (% of expense) rose 0.29 percentage points on 2022 (from 2.68% to 2.96%). Across the 17 yearly changes before that (1996 to 2022), the average change was +0.08 percentage points and a typical year strayed about 0.51 percentage points from that (the standard deviation). This year's change was 0.4 standard deviations above that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.XPN.INTP.ZS, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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