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 |