Seychelles - Economy
How is the economy of Seychelles? Based on the information we have, Seychelles has a high-income Indian Ocean island economy; rapidly growing tourism sector; major tuna exporter; offshore financial hub; environmentally fragile and investing in ocean rise mitigation; recently discovered offshore oil potential; successful anticorruption efforts. Key agricultural products in this country include: coconuts, vegetables, bananas, eggs, chicken, pork, fruits, tomatoes, tropical fruits, cassava (2022).
More about the economy of Seychelles
Labor force 51,000 (2018 est.)
Industrial production growth rate 2.13% (2023 est.)
Industries fishing, tourism, beverages
Population below poverty line 25.3% (2018 est.)
Taxes and other revenues 26.18% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency Seychelles rupees (SCR) per US dollar -
Exchange rates 2022 14.273 (2022 est.)
Exchange rates 2021 16.921 (2021 est.)
Exchange rates 2020 17.617 (2020 est.)
Exchange rates 2019 14.033 (2019 est.)
Exchange rates 2018 13.911 (2018 est.)
Debt - external
Debt - external 2019 $4.802 billion (2019 est.)
Debt - external 2018 $4.613 billion (2018 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2022 $638.961 million (2022 est.)
Reserves of foreign exchange and gold 2021 $702.585 million (2021 est.)
Reserves of foreign exchange and gold 2020 $559.682 million (2020 est.)
Current account balance
Current account balance 2023 -$155.194 million (2023 est.)
Current account balance 2022 -$141.648 million (2022 est.)
Current account balance 2021 -$160.168 million (2021 est.)
Public debt
Public debt 2017 63.6% of GDP (2017 est.)
Budget
Revenues $601 million (2019 est.)
Expenditures $586 million (2019 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.49% of GDP (2023 est.)
Remittances 2022 0.49% of GDP (2022 est.)
Remittances 2021 0.64% of GDP (2021 est.)
Household income
Lowest 10% 2.6% (2018 est.)
Highest 10% 23.9% (2018 est.)
Imports
Imports 2023 $2.437 billion (2023 est.)
Imports 2022 $2.298 billion (2022 est.)
Imports 2021 $1.821 billion (2021 est.)
Imports (partners) UAE 22%, Netherlands 14%, Cayman Islands 7%, France 6%, China 6% (2022)
Comodities Imports force ships, refined petroleum, fish, plastic products, cars (2022)
Exports
Imports 2023 $2.437 billion (2023 est.)
Imports 2022 $2.298 billion (2022 est.)
Imports 2021 $1.821 billion (2021 est.)
Exports (partners) UAE 18%, France 17%, UK 9%, Mauritius 9%, Japan 8% (2022)
Comodities Exports force fish, refined petroleum, ships, aircraft, animal meal (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $3.53 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $3.421 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $2.976 billion (2021 est.)
GDP (official exchange rate) $2.141 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $29,500 (2023 est.)
Real GDP per capita 2022 $28,500 (2022 est.)
Real GDP per capita 2021 $30,000 (2021 est.)
GDP - composition, by sector of origin
Agriculture 2.5% (2017 est.)
Industry 13.8% (2017 est.)
Services 83.7% (2017 est.)
GDP - composition, by end use
Household consumption 52.7% (2017 est.)
Government consumption 34.4% (2017 est.)
Investment in fixed capital 26.7% (2017 est.)
Investment in inventories 0% (2017 est.)
Exports of goods and services 79.4% (2017 est.)
Imports of goods and services -93.2% (2017 est.)
Unemployment rate
Unemployment rate 2017 3% (2017 est.)
Unemployment rate 2016 2.7% (2016 est.)
Youth unemployment rate (ages 15-24)
Total 16.5% (2020 est.)
Male 17.5%
Female 15.6%
All Important Facts about Seychelles

Want to know more about Seychelles? Check all different factbooks for Seychelles below.

Seychelles is found in Eastern Africa