Economy of Seychelles

Economy of Seychelles
	Central Bank of Seychelles
Currency	Seychellois rupee (SCR, SR)
Fiscal year	Calendar year
Trade organisations	AU, AfCFTA (signed), WTO, COMESA, SADC
Country group	Developing/Emerging; High-income economy;
Statistics
GDP	$2.1 billion (nominal, 2024 est.); $4.5 billion (PPP, 2024 est.);
GDP per capita	$21,266 (nominal, 2024 est.); $45,663 (PPP, 2024 est.);
GDP by sector	Agriculture: 2.5%; Industry: 13.8%; Services: 83.7%; (2017);
Gini coefficient	46.8 high (2013)
Human Development Index	0.785 high (2021) (72nd); 0.661 medium IHDI (2021);
Labour force by occupation	Agriculture: 3%; Industry: 23%; Services: 74%; (2006);
Unemployment	3.7% (2017)
Main industries	Fishing, tourism, beverages
External
Exports	$564.8 million (2017 est.)
Export goods	Canned tuna, frozen fish, petroleum products (reexports)
Main export partners	United Arab Emirates 28.5%; France 24%; United Kingdom 13.8%; Italy 8.9%; Germany 4.6%; (2017);
Imports	$1.155 billion (2017 est.)
Import goods	Machinery and equipment, foodstuffs, petroleum products, chemicals, other manufactured goods
Main import partners	United Arab Emirates 13.4%; France 9.4%; Spain 5.7%; South Africa 5%; (2017);
Current account	−$307 million (2017 est.)
Gross external debt	$2.559 billion (31 December 2017 est.)
Public finances
Government debt	63.6% of GDP (2017 est.)
Budget balance	−0.5% (of GDP) (2017 est.)
Revenues	593.4 million (2017 est.)
Expenses	600.7 million (2017 est.)
Foreign reserves	$545.2 million (31 December 2017 est.)
	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.

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

[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.

[IMFWEOSC-3] "World Economic Outlook Database, April 2023". IMF.org. International Monetary Fund. Retrieved 20 July 2023.

[CIAWFSE-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.

[imf-9] "Report for Selected Countries and Subjects". Retrieved 11 June 2015.

[factbook-10] "The World Factbook". Retrieved 11 June 2015.

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