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Economy of Seychelles information


Economy of Seychelles
Central Bank of Seychelles
CurrencySeychellois rupee (SCR, SR)
Fiscal year
Calendar year
Trade organisations
AU, AfCFTA (signed), WTO, COMESA, SADC
Country group
  • Developing/Emerging[1]
  • High-income economy[2]
Statistics
GDP
  • Increase $2.1 billion (nominal, 2024 est.)[3]
  • Increase $4.5 billion (PPP, 2024 est.)[3]
GDP per capita
  • Increase $21,266 (nominal, 2024 est.)[3]
  • Increase $45,663 (PPP, 2024 est.)[3]
GDP by sector
  • Agriculture: 2.5%
  • Industry: 13.8%
  • Services: 83.7%
  • (2017)[4]
Gini coefficient
46.8 high (2013)[5]
Human Development Index
  • Decrease 0.785 high (2021)[6] (72nd)
  • Increase 0.661 medium IHDI (2021)[7]
Labour force by occupation
  • Agriculture: 3%
  • Industry: 23%
  • Services: 74%
  • (2006)[4]
UnemploymentPositive decrease 3.7% (2017)[8]
Main industries
Fishing, tourism, beverages
External
ExportsIncrease $564.8 million (2017 est.)[4]
Export goods
Canned tuna, frozen fish, petroleum products (reexports)
Main export partners
  • Economy of Seychelles United Arab Emirates 28.5%
  • Economy of Seychelles France 24%
  • Economy of Seychelles United Kingdom 13.8%
  • Economy of Seychelles Italy 8.9%
  • Economy of Seychelles Germany 4.6%
  • (2017)[4]
ImportsIncrease $1.155 billion (2017 est.)
Import goods
Machinery and equipment, foodstuffs, petroleum products, chemicals, other manufactured goods
Main import partners
  • Economy of Seychelles United Arab Emirates 13.4%
  • Economy of Seychelles France 9.4%
  • Economy of Seychelles Spain 5.7%
  • Economy of Seychelles South Africa 5%
  • (2017)[4]
Current account
Decrease −$307 million (2017 est.)[4]
Gross external debt
Positive decrease $2.559 billion (31 December 2017 est.)[4]
Public finances
Government debt
Positive decrease 63.6% of GDP (2017 est.)[4]
Budget balance
−0.5% (of GDP) (2017 est.)[4]
Revenues593.4 million (2017 est.)[4]
Expenses600.7 million (2017 est.)[4]
Foreign reserves
Increase $545.2 million (31 December 2017 est.)[4]
Main data source: CIA World Fact Book
All values, unless otherwise stated, are in US dollars.

The economy of Seychelles is based on fishing, tourism, processing of coconuts and vanilla, coir rope, boat building, printing, furniture and beverages.[9][10] Agricultural products include cinnamon, sweet potatoes, cassava (tapioca), bananas, poultry and tuna.[9][10]

The public sector, comprising the government and state-owned enterprises, dominates the economy in terms of employment and gross revenue, employing two-thirds of the labor force. Government consumption absorbs over one-third of Seychelles's GDP.

  1. ^ "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 29 September 2019.
  2. ^ "World Bank Country and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
  3. ^ a b c d "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 20 July 2023.
  4. ^ a b c d e f g h i j k l "The World Factbook". CIA.gov. Central Intelligence Agency. Retrieved 19 August 2019.
  5. ^ "GINI index (World Bank estimate)". data.worldbank.org. World Bank. Retrieved 19 August 2019.
  6. ^ "Human Development Index (HDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 17 November 2022.
  7. ^ "Inequality-adjusted Human Development Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Office) United Nations Development Programme. Retrieved 17 November 2022.
  8. ^ "Unemployment, total (% of total labor force) (national estimate)". data.worldbank.org. World Bank. Retrieved 19 August 2019.
  9. ^ a b "Report for Selected Countries and Subjects". Retrieved 11 June 2015.
  10. ^ a b "The World Factbook". Retrieved 11 June 2015.

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