Saint Helena Economy 2001

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

NOTE: The information regarding Saint Helena on this page is re-published from the 2001 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Helena Economy 2001 information contained here. All suggestions for corrections of any errors about Saint Helena Economy 2001 should be addressed to the CIA.