Economy of Saint Helena

Economy - overview: The economy depends largely on financial assistance from the UK, which amounted to about $5 million in 1998. The local population earns income from fishing, the raising of livestock, and sales of handicrafts. Because there are few jobs, a large proportion of the work force has left to seek employment overseas.

GDP: purchasing power parity - $13.9 million (FY94/95 est.)

GDP - real growth rate: NA%

GDP - per capita: purchasing power parity - $2,000 (FY94/95 est.)

GDP - composition by sector:
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): NA%

Labor force: 2,416 (1991 est.)
note: a large proportion of the work force has left to seek employment overseas

Labor force - by occupation: farmers and fishermen 6%, industry (mainly construction) 48%, services 46% (1987 est.)

Unemployment rate: 18% (1996)

Budget:
revenues: $11.2 million
expenditures: $11 million, including capital expenditures of $NA (FY92/93)

Industries: construction, crafts (furniture, lacework, fancy woodwork), fishing

Industrial production growth rate: NA%

Electricity - production: 6 million kWh (1998)

Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 6 million kWh (1998)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

Agriculture - products: maize, potatoes, vegetables; timber; fish, crawfish (on Tristan da Cunha)

Exports: $704,000 (f.o.b., 1995)

Exports - commodities: fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts

Exports - partners: South Africa, UK

Imports: $14.434 million (c.i.f., 1995)

Imports - commodities: food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts

Imports - partners: UK, South Africa

Debt - external: $NA

Economic aid - recipient: $12.6 million (1995); note - $5.3 million from UK (1997)

Currency: 1 Saint Helenian pound = 100 pence

Exchange rates: Saint Helenian pounds per US$1 - 0.6092 (January 2000), 6.180 (1999), 0.6037 (1998), 0.6047 (1997), 0.6403 (1996), 0.6335 (1995); note - the Saint Helenian pound is at par with the British pound

Fiscal year: 1 April - 31 March

See also : Saint Helena