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Seychelles

Republic of Seychelles

Last updated: 2026-03-28 (today)

Budget

note

note: central government revenues and expenditures (excluding grants and social security funds) converted to US dollars at average official exchange rate for year indicated

revenues

$695.973 million (2023 est.)

expenditures

$728.171 million (2023 est.)

Exports

note

note: balance of payments - exports of goods and services in current dollars

Exports 2021

$1.751 billion (2021 est.)

Exports 2022

$2.247 billion (2022 est.)

Exports 2023

$2.375 billion (2023 est.)

Imports

note

note: balance of payments - imports of goods and services in current dollars

Imports 2021

$1.821 billion (2021 est.)

Imports 2022

$2.298 billion (2022 est.)

Imports 2023

$2.437 billion (2023 est.)

Industries

fishing, tourism, beverages

Public debt

note

note: central government debt as a % of GDP

Public debt 2017

63.6% of GDP (2017 est.)

Remittances

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note: personal transfers and compensation between resident and non-resident individuals/households/entities

Remittances 2021

0.6% of GDP (2021 est.)

Remittances 2022

0.5% of GDP (2022 est.)

Remittances 2023

0.5% of GDP (2023 est.)

Exchange rates

Currency

Seychelles rupees (SCR) per US dollar -

Exchange rates 2020

17.617 (2020 est.)

Exchange rates 2021

16.921 (2021 est.)

Exchange rates 2022

14.273 (2022 est.)

Exchange rates 2023

14.018 (2023 est.)

Exchange rates 2024

14.53 (2024 est.)

Economic overview

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

Exports - partners

France 20%, Mauritius 12%, UK 9%, Japan 8%, Italy 8% (2023)

note: top five export partners based on percentage share of exports

Imports - partners

UAE 32%, Spain 10%, France 6%, South Africa 6%, India 6% (2023)

note: top five import partners based on percentage share of imports

Real GDP per capita

note

note: data in 2021 dollars

Real GDP per capita 2022

$28,000 (2022 est.)

Real GDP per capita 2023

$28,600 (2023 est.)

Real GDP per capita 2024

$29,200 (2024 est.)

Real GDP growth rate

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note: annual GDP % growth based on constant local currency

Real GDP growth rate 2022

12.7% (2022 est.)

Real GDP growth rate 2023

2.3% (2023 est.)

Real GDP growth rate 2024

3.5% (2024 est.)

Agricultural products

coconuts, vegetables, bananas, eggs, chicken, pork, fruits, tomatoes, tropical fruits, cassava (2023)

note: top ten agricultural products based on tonnage

Exports - commodities

fish, scrap iron, animal meal, broadcasting equipment, ships (2023)

note: top five export commodities based on value in dollars

Imports - commodities

refined petroleum, fish, ships, cars, plastic products (2023)

note: top five import commodities based on value in dollars

Current account balance

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note: balance of payments - net trade and primary/secondary income in current dollars

Current account balance 2021

-$160.168 million (2021 est.)

Current account balance 2022

-$141.648 million (2022 est.)

Current account balance 2023

-$155.194 million (2023 est.)

Taxes and other revenues

26.18% (of GDP) (2020 est.)

note: central government tax revenue as a % of GDP

GDP (official exchange rate)

$2.167 billion (2024 est.)

note: data in current dollars at official exchange rate

GDP - composition, by end use

note

note: figures may not total 100% due to rounding or gaps in data collection

household consumption

74.6% (2024 est.)

government consumption

26.3% (2024 est.)

investment in inventories

0% (2024 est.)

investment in fixed capital

17.2% (2024 est.)

exports of goods and services

85.2% (2024 est.)

imports of goods and services

-103.2% (2024 est.)

Population below poverty line

25.3% (2018 est.)

note: % of population with income below national poverty line

Inflation rate (consumer prices)

note

note: annual % change based on consumer prices

Inflation rate (consumer prices) 2022

2.6% (2022 est.)

Inflation rate (consumer prices) 2023

-1% (2023 est.)

Inflation rate (consumer prices) 2024

0.3% (2024 est.)

Industrial production growth rate

-6.4% (2024 est.)

note: annual % change in industrial value added based on constant local currency

Real GDP (purchasing power parity)

note

note: data in 2021 dollars

Real GDP (purchasing power parity) 2022

$3.354 billion (2022 est.)

Real GDP (purchasing power parity) 2023

$3.43 billion (2023 est.)

Real GDP (purchasing power parity) 2024

$3.549 billion (2024 est.)

Reserves of foreign exchange and gold

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note: holdings of gold (year-end prices)/foreign exchange/special drawing rights in current dollars

Reserves of foreign exchange and gold 2022

$638.961 million (2022 est.)

Reserves of foreign exchange and gold 2023

$682.794 million (2023 est.)

Reserves of foreign exchange and gold 2024

$773.678 million (2024 est.)

GDP - composition, by sector of origin

note

note: figures may not total 100% due to non-allocated consumption not captured in sector-reported data

industry

12.3% (2024 est.)

services

65.8% (2024 est.)

agriculture

2.5% (2024 est.)

Household income or consumption by percentage share

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note: % share of income accruing to lowest and highest 10% of population

lowest 10%

2.6% (2018 est.)

highest 10%

23.9% (2018 est.)

Gini Index coefficient - distribution of family income

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note: index (0-100) of income distribution; higher values represent greater inequality

Gini Index coefficient - distribution of family income 2018

32.1 (2018 est.)