Short facts about the economy in Saint Helena

Economy - overview:

The economy depends largely on financial assistance from the UK, which amounted to about $5 million in 1997 or almost one-half of annual budgetary revenues. The local population earns income from fishing, the raising of 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 - real growth rate:

NA%

GDP - per capita:

purchasing power parity - $2,500 (1998 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):

3.2% (1997 est.)

Labor force:

3,500 (1998 est.) note:  1,200 of whom are working offshore

Labor force - by occupation:

agriculture and fishing 6%, industry (mainly construction) 48%, services 46% (1987 est.)

Unemployment rate:

14% (1998 est.)

Budget:

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

Industries:

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

Industrial production growth rate:

NA%

Electricity - production:

6 million kWh (1999)

Electricity - production by source:

fossil fuel:  100% hydro:  0% nuclear:  0% other:  0% (1999)

Electricity - consumption:

5.6 million kWh (1999)

Electricity - exports:

0 kWh (1999)

Electricity - imports:

0 kWh (1999)

Agriculture - products:

corn, 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:

Saint Helenian pound (SHP)

Currency code:

SHP

Exchange rates:

Saint Helenian pounds per US dollar - 0.6764 (January 2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6047 (1997), 0.6403 (1996); note - the Saint Helenian pound is at par with the British pound

Fiscal year:

1 April - 31 March

Source: World Factbook