[3] Copra is by far the most important cash crop (making up more than 35% of Vanuatu's exports), followed by timber, beef, and cocoa.

In addition, the Vanuatu government has maintained the country's pre-independence status as a tax haven and international financial center.

About 2,000 registered institutions offer a wide range of offshore banking, investment, legal, accounting, and insurance and trust company services.

[4] Vanuatu was one of three Pacific island nations (along with Nauru and Palau) which four major international banks placed a U.S. dollar transaction ban on in December 1999.

Vanuatu claims an exclusive economic zone of 680,000 square kilometres (260,000 sq mi) and possesses marine resources.

After a downturn in 2001 and 2002 due to a decrease in tourism funding,[clarification needed] the economy was expected to grow by 3.9%, increasing to 4.3% in 2007.

During the first year of the program the government has adopted a value-added tax, consolidated and reformed government-owned banks, and started a 10% downsizing in the public service.

[citation needed] The government declared 2007 to be "the Year of the Traditional Economy" (Bislama: kastom ekonomi), encouraging the trade of sea shells and pig tusks and discouraging cash transfers.

Exports - commodities: copra, beef, cocoa, timber, kava, coffee Exports - partners: Thailand 57.3%, Japan 21.8% (2011) Imports: $242 million (f.o.b., 2012) Imports - commodities: machinery and equipment, foodstuffs, fuels Imports - partners: China 26.7%, Singapore 21.2%, Australia 13.6%, New Zealand 7.2%, Fiji 6.7%, Japan 5.4% (2011) Debt - external: $307.7 million (2011) Economic aid - recipient: $27.5 million (2002) Currency: 1 vatu (VT), no subdivisions Exchange rates: vatu (VT) per US$1 – 94.03 (2012), 96.91 (2010), 111.79 (2004), 122.19 (2003), 139.2 (2002), 145.31 (2001), 129.76 (December 1999), 129.08 (1999), 127.52 (1998), 115.87 (1997), 111.72 (1996), 112.11 (1995) Fiscal year: calendar year