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Mr. Serkan Arslanalp, Mr. Robin Koepke, and Jasper Verschuur
This paper proposes an easy-to-follow approach to track merchandise trade using vessel data and applies it to Pacific island countries. Pacific islands rely heavily on imports and maritime transport for trade. They are also highly vulnerable to climate change and natural disasters that pose risks to ports and supply chains. Using satellite-based vessel tracking data from the UN Global Platform, we construct daily indicators of port and trade activity for Pacific island countries. The algorithm significantly advances estimation techniques of previous studies, particularly by employing ways to overcome challenges with the estimation of cargo payloads, using detailed information on shipping liner schedules to validate port calls, and applying country-specific information to define port boundaries. The approach can complement and help fill gaps in official data, provide early warning signs of turning points in economic activity, and assist policymakers and international organizations to monitor and provide timely responses to shocks (e.g., COVID-19).
International Monetary Fund
This paper describes economic developments in Vanuatu during the first half of the 1990s. In 1995, economic growth recovered to more than 3 percent, following the slowdown in the previous year, owing to increased agricultural production, especially of copra and cocoa, and the growth in construction and tourism. Inflation remained below 2 percent, notwithstanding the impact of a new turnover tax on consumer prices, owing to a sharp reduction in import tariffs and a decline in rental prices. The overall fiscal deficit narrowed mainly owing to lower capital expenditure.