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Economy & Agriculture
ECONOMY
The Vanuatu economy is developing gradually and is based primarily on agriculture and supplemented by tourism and financial services.
AGRICULTURE
The fertile volcanic soils of Vanuatu are no doubt its greatest asset. Agricultural products make up 90% of the country's exports. Additionally the soils enable a significant proportion of the population to engage in subsistence farming of staple food crops including taro and yams. Most villages also produce cash crops such as copra (coconuts), cocoa, kava and vegetables.
Copra is the most significant agricultural crop in the country, with large plantations on Santo and Malakula. Copra is the country's largest export earner, however it is susceptible to the large swings in it’s commodity price on international markets. Much of it is exported to country’s where it is processed into confectionery, soap, margarine and industrial products. |
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