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Saint Helena Economy
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
note: 1,200 work offshore (1998 est.)
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 (FY92/93)
Industries:
construction, crafts (furniture, lacework, fancy woodwork), fishing
Industrial production growth rate:
NA
Electricity - production:
5 million kWh (2001)
Electricity - production by source:
fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
Electricity - consumption:
4.65 million kWh (2001)
Electricity - exports:
0 kWh (2001)
Electricity - imports:
0 kWh (2001)
Oil - production:
0 bbl/day (2001 est.)
Oil - consumption:
200 bbl/day (2001 est.)
Oil - exports:
NA (2001)
Oil - imports:
NA (2001)
Agriculture - products:
corn, potatoes, vegetables; timber; fish, crawfish (on Tristan da Cunha)
Exports:
$17 million f.o.b. (2002)
Exports - commodities:
fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts
Exports - partners:
US 25%, Tanzania 20%, Indonesia 10%, UK 10%, Japan 5%, Netherlands 5%, Philippines 5%, Spain 5% (2003 est.)
Imports:
$42 million c.i.f. (2002)
Imports - commodities:
food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
Imports - partners:
UK 28.2%, South Africa 23.1%, Spain 15.4%, Italy 7.7%, Tanzania 7.7%, US 5.1% (2003 est.)
Debt - external:
NA (1996)
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 - 0.6661 (2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998),
Fiscal year:
1 April - 31 March
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