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Economy of Saint Helena

Economy - overview:The economy depends largely on financial assistance from the UK, which will amount to about $27 million in FY06/07 or almost 70% of annual budgetary revenues. The local population earns income from fishing, raising livestock, and sales of handicrafts. Because there are few jobs, 25% of the work force has left to seek employment on Ascension Island, on the Falklands, and in the UK.
GDP (purchasing power parity):$18 million (1998 est.)
GDP (official exchange rate):NA
GDP - real growth rate:NA%
GDP - per capita (PPP):$2,500 (1998 est.)
GDP - composition by sector:agriculture: NA%
industry: NA%
services: NA%
Labor force:2486
note: 1,200 work offshore (1998 est.)
Labor force - by occupation:agriculture: 6%
industry: 48%
services: 46% (1987 est.)
Unemployment rate:14% (1998 est.)
Population below poverty line:NA%
Household income or consumption by percentage share:lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices):3.2% (1997 est.)
Budget:revenues: $12.07 million
expenditures: $29.64 million; including capital expenditures of $NA
note: revenue data reflect locally raised revenues only; the budget deficit is resolved by grant aid from the United Kingdom (FY92/93)
Agriculture - products:coffee, corn, potatoes, vegetables; timber; fish, lobster (on Tristan da Cunha); livestock
Industries:construction, crafts (furniture, lacework, fancy woodwork), fishing, philatelic sales
Industrial production growth rate:NA%
Electricity - production:7 million kWh (2004)
Electricity - production by source:fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (2001)
Electricity - consumption:6.51 million kWh (2004)
Electricity - exports:0 kWh (2004)
Electricity - imports:0 kWh (2004)
Oil - production:0 bbl/day (2004 est.)
Oil - consumption:100 bbl/day (2004 est.)
Oil - exports:NA bbl/day
Oil - imports:NA bbl/day
Oil - proved reserves:0 bbl
Natural gas - production:0 cu m (2004 est.)
Natural gas - consumption:0 cu m (2004 est.)
Exports:$19 million f.o.b. (2004 est.)
Exports - commodities:fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts
Exports - partners:Tanzania 37.7%, US 17.4%, Japan 15.2%, UK 8.4%, Nigeria 4.8%, Spain 4.5% (2006)
Imports:$45 million c.i.f. (2004 est.)
Imports - commodities:food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
Imports - partners:UK 53.5%, South Africa 14.3%, Spain 10.3%, Tanzania 8.5%, US 4.6% (2006)
Debt - external:$NA
Economic aid - recipient:$27.25 million obtained in a grant from the United Kingdom (FY06/07)
Currency (code):Saint Helenian pound (SHP)
Currency code:SHP
Exchange rates:Saint Helenian pounds per US dollar - 0.5434 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003), 0.6672 (2002)
note: the Saint Helenian pound is on par with the British pound
Fiscal year:1 April - 31 March

Saint Helena Quickstats

  • Population: 7,543
  • Area: 413 sq km
  • Density: 18.1 /km²
  • GDP (total):
  • GDP (per capita):
  • Literacy: 97%

Languages of Saint Helena

Useful to know

  • Currency: Saint Helenian pound (SHP)
  • Dial code: +290

International Trade

External sites

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Saint Helena Internet

  • Usage: 1,000
  • Penetration: 21.5 %
  • Top Domain: .sh

WT eBusiness info:

  • Success Ranking: 100
  • Market testing: Untested
  • Overall risk: High
  • Overall reward: Low

e-maturity:

  • Tourism: 10%
  • eCommerce: 10%
  • Gaming: 10%
  • eLearning: 10%

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