Economy - overview:
Since independence in 1976, per capita output in this Indian Ocean archipelago has expanded to roughly seven times the pre-independence, near-subsistence level, moving the island into the upper-middle-income group of countries. Growth has been led by the tourist sector, which employs about 30% of the labor force and provides more than 70% of hard currency earnings, and by tuna fishing.In recent years, the government has encouraged foreign investment to upgrade hotels and other services. At the same time, the government has moved to reduce the dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing.In 2008, having depleted its foreign exchange reserves, Seychelles defaulted on interest payments due on a $230 million Eurobond, requested assistance from the IMF, and immediately enacted a number of significant structural reforms, including liberalization of the exchange rate, reform of the public sector to include layoffs, and the sale of some state assets. In December 2013, the IMF declared that Seychelles had successfully transitioned to a market-based economy with full employment and a fiscal surplus. Effective 1 January 2017, Seychelles was no longer be eligible for trade benefits under the US African Growth and Opportunities Act after having gained developed country status. Seychelles grew at 4.1% in 2017 because of a strong tourist sector and low commodity prices. The Seychellois Government met the IMF’s performance criteria for 2017 but recognizes a need to make additional progress to combat high poverty levels, estimated at 39% in 2013.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): Gross national saving: GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Exchange rates:
$2.712 billion (2017 est.)
$2.606 billion (2016 est.)
$2.494 billion (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 190
$1.479 billion (2016 est.)
[see also: GDP (official exchange rate) country ranks ]
4.1% (2017 est.)
4.5% (2016 est.)
5% (2015 est.)
country comparison to the world: 63
[see also: GDP - real growth rate country ranks ]
$28,900 (2017 est.)
$27,700 (2016 est.)
$26,800 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 68
16.6% of GDP (2017 est.)
11.8% of GDP (2016 est.)
15.2% of GDP (2015 est.)
country comparison to the world: 112
[see also: Gross national saving country ranks ]
household consumption: 47.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 28.1%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 33.2%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 1.6%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 71.5%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -82.1% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]
agriculture: 2.5%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.8%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 83.7% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]
coconuts, cinnamon, vanilla, sweet potatoes, cassava (manioc, tapioca), copra, bananas; tuna
fishing, tourism, beverages
2.5% (2017 est.)
country comparison to the world: 111
[see also: Industrial production growth rate country ranks ]
39,560 (2006 est.)
country comparison to the world: 197
[see also: Labor force country ranks ]
agriculture: 3%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 23%
[see also: Labor force - by occupation - industry country ranks ]
services: 74% (2006)
[see also: Labor force - by occupation - services country ranks ]
3% (2017 est.)
2.7% (2016 est.)
country comparison to the world: 34
[see also: Unemployment rate country ranks ]
39.3% (2013 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 4.7%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 15.4% (2007)
revenues: $571.8 million
[see also: Budget - revenues country ranks ]
expenditures: $557.2 million (2017 est.)
[see also: Budget - expenditures country ranks ]
38.7% of GDP (2017 est.)
country comparison to the world: 42
[see also: Taxes and other revenues country ranks ]
1% of GDP (2017 est.)
country comparison to the world: 16
[see also: Budget surplus (+) or deficit (-) country ranks ]
56.8% of GDP (2017 est.)
57.6% of GDP (2016 est.)
country comparison to the world: 81
[see also: Public debt country ranks ]
calendar year
2.8% (2017 est.)
-1% (2016 est.)
country comparison to the world: 124
[see also: Inflation rate (consumer prices) country ranks ]
11.17% (31 December 2010)
country comparison to the world: 18
[see also: Central bank discount rate country ranks ]
12.4% (31 December 2017 est.)
12.36% (31 December 2016 est.)
country comparison to the world: 65
[see also: Commercial bank prime lending rate country ranks ]
$587.7 million (31 December 2017 est.)
$556.5 million (31 December 2016 est.)
country comparison to the world: 166
[see also: Stock of narrow money country ranks ]
$702.4 million (31 December 2017 est.)
$638.2 million (31 December 2016 est.)
country comparison to the world: 179
[see also: Stock of broad money country ranks ]
$610.3 million (31 December 2017 est.)
$565.9 million (31 December 2016 est.)
country comparison to the world: 173
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
-$230 million (2017 est.)
-$263 million (2016 est.)
country comparison to the world: 90
[see also: Current account balance country ranks ]
$495.4 million (2017 est.)
$477.6 million (2016 est.)
country comparison to the world: 175
[see also: Exports country ranks ]
canned tuna, frozen fish, petroleum products (reexports)
UAE 28.8%, France 21%, UK 14.7%, Italy 9.2%, Spain 8.8% (2016)
$1.044 billion (2017 est.)
$962.4 million (2016 est.)
country comparison to the world: 178
[see also: Imports country ranks ]
machinery and equipment, foodstuffs, petroleum products, chemicals, other manufactured goods
UAE 21.6%, France 9.9%, South Africa 8.4%, Mauritius 7.8%, Spain 7.2%, India 4.9%, China 4.8%, UK 4.7% (2016)
$538.8 million (31 December 2017 est.)
$523.5 million (31 December 2016 est.)
country comparison to the world: 142
[see also: Reserves of foreign exchange and gold country ranks ]
$2.729 billion (31 December 2017 est.)
$2.651 billion (31 December 2016 est.)
country comparison to the world: 145
[see also: Debt - external country ranks ]
Seychelles rupees (SCR) per US dollar -
13.64 (2017 est.)
13.319 (2016 est.)
13.319 (2015 est.)
13.314 (2014 est.)
12.747 (2013 est.)