Seychelles Economy- Facts

The Seychelles economy has grown rapidly, in recent years, pushing the island into a mid-tier of income generating countries. Traditionally, the main industry has been tourism, with approximately 20% of labour force employed directly in the sector, as well as tuna fishing. To reduce the dependence on tourism, the Seychelles government has been rebranding the island’s economy to a service based one, providing fiscal incentives to foreign direct investors.

Key figures of the Seychelles economy are set forth below (data are in 2010 US dollars)

Gross Domestic Product
$2.053 billion (2010 est.)
$1.932 billion (2009 est.)
$1.919 billion (2008 est.)

GDP Real Growth Rate
6.2% (2010 est.)
0.7% (2009 est.)
-1.3% (2008 est.)

GDP Per Capita
$23,200 (2010 est.)
$22,100 (2009 est.)
$22,200 (2008 est.)

GDP composition per sector
Agriculture: 1.9%
Industry: 18.9%
Services: 79.1% (2010 est.)

Budget
Revenues: $339.7 million
Ependitures: $314.9 million (2010 est.)

Industries
fishing, tourism, processing of coconuts and vanilla, coir (coconut fiber) rope, boat building, printing, furniture; beverages

Exports partners
UK 19%, France 17.7%, Italy 11.1%, Japan 10.8%, Thailand 7% (2010)

Imports Commodities
machinery and equipment, foodstuffs, petroleum products, chemicals, other manufactured goods

Import Partners
Saudi Arabia 21.1%, South Africa 8.4%, France 6.8%, Spain 6.6%, Singapore 6%, Italy 4.7% (2010)