Includes The Seychelles real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, GDP composition and breakdown by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Seychelles economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of The Seychelles best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Victoria
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank |
Central Bank of Seychelles |
|---|---|
| Currency |
Seychelles rupees (SCR) |
| International Reserves |
USD 0.5 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
| Gross Domestic Product – GDP |
USD 1.6 billion (2018, estimate) |
| GDP (Purchasing Power Parity) |
Intl$ 2.9 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2007: 10.4% 2008: -2.1% 2009: -1.1% 2010: 5.9% 2011: 5.4% 2012: 3.7% 2013: 6% 2014: 4.5% 2015: 4.9% 2016: 4.5% (Estimate) 2017: 5.3% (Estimate) 2018: 3.6% (Estimate) |
|---|---|
| GDP per capita – current prices |
USD 16,472.1 (2018, estimate) |
| GDP per capita – PPP | N/A |
| GDP (PPP) – share of world total |
1980: 0% 1990: 0% 2000: 0% 2010: 0% 2019: 0.002% (Estimate) |
| GDP – composition by sector |
agriculture: 2% industry: 10.9% services: 70.4% (2018 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) | N/A |
| Inflation |
2015: 4% 2016: -1% 2017: 2.9% 2018: 3.7% (Estimate) 2019: 2% (Estimate) |
The Seychelles
Emerging & Frontier Markets
Global Salon: Francisco Ferreira
Award Winners
World’s Best Banks 2013: Africa
Capital Raising & Corporate Finance
Offshore Deals Help Counter Slowing Global M&A MarketInflation & Debt
| Inflation |
2015: 4% 2016: -1% 2017: 2.9% 2018: 3.7% (Estimate) 2019: 2% (Estimate) |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: N/A Moody’s: N/A Standard & Poor’s / Moody’s |
| Unemployment rate |
2015: 2.7% (Estimate) 2016: 2.7% (Estimate) 2017: 3% (Estimate) 2018: 3% (Estimate) 2019: 3% (Estimate) |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2015: 67% 2016: 69% 2017: 63.2% 2018: 56.9% (Estimate) 2019: 53.8% (Estimate) |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015: 1.9% 2016: 0.2% 2017: 0.4% 2018: 0.2% (Estimate) 2019: 0.9% (Estimate) |
| Market value of publicly traded shares | N/A |
| Largest Companies | N/A |
Import/Export
| Exports as percent of GDP (Exports of goods and services) |
87% (2018) |
|---|---|
| Shares in world total merchandising export |
0.003% (2018) |
| Shares in world total commercial services export |
0.02% (2018) |
| Total exports |
USD 1.6 billion (2018 estimate) |
| Export commodities |
Canned tuna, frozen fish, petroleum products (reexports) |
| Total imports |
USD 1.8 billion (2018 estimate) |
| Import commodities |
Machinery and equipment, foodstuffs, petroleum products, chemicals, other manufactured goods |
| Exports – major partners |
UAE 28.5%, France 24%, UK 13.8%, Italy 8.9%, Germany 4.6% (2017) |
| Imports – major partners |
UAE 13.4%, France 9.4%, Spain 5.7%, South Africa 5% (2017) |
Competitiveness & Trade
| Current account balance |
USD -0.3 billion (2018 estimate) |
|---|---|
| Current account balance by percentage of GDP |
-17.0 % (2018 estimate) |
| FDI inflows |
2016: USD 155 million 2017: USD 192 million 2018: USD 124 million |
| FDI Outflows |
2016: USD 10.3 million 2017: USD 5.9 million 2018: USD 6.0 million |
| Value of cross-border M&A, by country of purchaser |
2015: USD 220 million 2016: USD 24 million 2017: USD -36 million 2018: USD -36 million |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 100 out of 190 countries Subcategories: Starting a Business: 147 out of 190 countries Dealing with Construction Permits: 106 out of 190 countries Getting Electricity: 104 out of 190 countries Registering Property: 65 out of 190 countries Getting Credit: 144 out of 190 countries Protecting Minority Investors: 143 out of 190 countries Paying Taxes: 36 out of 190 countries Trading across Borders: 98 out of 190 countries Enforcing Contracts: 128 out of 190 countries Resolving Insolvency: 75 out of 190 countries |
| Global competitiveness ranking |
76 out of 141 countries |
| Index of Economic Freedom |
Ranking: 87 / Score: 61.4 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Time Zone |
UTC+4 |
|---|---|
| Total Area |
455 sq km |
| Total Population |
1990: 0.07 million 2000: 0.08 million 2010: 0.09 million 2015: 0.09 million (Estimate) 2020: 0.1 million (Estimate) |
| Urban population as % of total population |
1960: 27.7% 1980: 49.4% 2000: 50.4% 2018: 56.7% |
| Population median age |
35.8 years |
| Population growth rate |
0.74% (2018 estimate) |
| Life expectancy |
75.2 years (2018 estimate) |
| % of population living on less than $3.10 a day |
2.5% (last available estimate, 2013) |
| Inequality of wealth distribution (Gini index) |
46.8 (last available estimate, 2013) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Partly Free Political Rights: 3 Civil Liberties: 3 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 20.9% Mobile: 184.3% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population |
58.77 % (2017) |
Language & Religon
| Languages |
Seychellois Creole (official) 89.1%, English (official) 5.1%, French (official) 0.7%, other 3.8%, unspecified 1.4% (2010 est.) |
|---|---|
| Literacy |
Total population: 91.8% Male: 91.4% Female: 92.3% Definition: age 15 and over can read and write (2012 est.) |
| Religions |
Roman Catholic 76.2%, Protestant 10.5% (Anglican 6.1%, Pentecostal Assembly 1.5%, Seventh Day Adventist 1.2%, other Protestant 1.7%), other Christian 2.4%, Hindu 2.4%, Muslim 1.6%, other non-Christian 1.1%, unspecified 4.8%, none 0.9% (2010 est.) |
World Rankings
| Population | 0.1 M |
|---|---|
| Mercer Cost of living index |
Victoria: 14th (2019) |
| C02 Emissions per capita |
5.42 metric tons per capita (2014) |
Global Finance Rankings & Awards: The Seychelles
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000