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 (2023).
More about the economy of Seychelles
Labor force
Industrial production growth rate -6.4% (2024 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 2024 14.53 (2024 est.)
Exchange rates 2023 14.018 (2023 est.)
Exchange rates 2022 14.273 (2022 est.)
Exchange rates 2021 16.921 (2021 est.)
Exchange rates 2020 17.617 (2020 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2024 $773.678 million (2024 est.)
Reserves of foreign exchange and gold 2023 $682.794 million (2023 est.)
Reserves of foreign exchange and gold 2022 $638.961 million (2022 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 $695.973 million (2023 est.)
Expenditures $728.171 million (2023 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 0.5% of GDP (2023 est.)
Remittances 2022 0.5% of GDP (2022 est.)
Remittances 2021 0.6% 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 32%, Spain 10%, France 6%, South Africa 6%, India 6% (2023)
Comodities Imports force refined petroleum, fish, ships, cars, plastic products (2023)
Exports
Imports 2023 $2.437 billion (2023 est.)
Imports 2022 $2.298 billion (2022 est.)
Imports 2021 $1.821 billion (2021 est.)
Exports (partners) France 20%, Mauritius 12%, UK 9%, Japan 8%, Italy 8% (2023)
Comodities Exports force fish, scrap iron, animal meal, broadcasting equipment, ships (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2024 $3.549 billion (2024 est.)
Real GDP (purchasing power parity) 2023 $3.43 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $3.354 billion (2022 est.)
GDP (official exchange rate) $2.167 billion (2024 est.)
Real GDP Per capita
Real GDP per capita 2024 $29,200 (2024 est.)
Real GDP per capita 2023 $28,600 (2023 est.)
Real GDP per capita 2022 $28,000 (2022 est.)
GDP - composition, by sector of origin
Agriculture 2.5% (2024 est.)
Industry 12.3% (2024 est.)
Services 65.8% (2024 est.)
GDP - composition, by end use
Household consumption 74.6% (2024 est.)
Government consumption 26.3% (2024 est.)
Investment in fixed capital 17.2% (2024 est.)
Investment in inventories 0% (2024 est.)
Exports of goods and services 85.2% (2024 est.)
Imports of goods and services -103.2% (2024 est.)
All Important Facts about Seychelles

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

Seychelles is found in Eastern Africa