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Saint Helena (overseas territory of the UK) Economy

    Economy—overview: The economy depends largely on financial assistance from the UK, which amounted to about $5 million in 1998. The local population earns income from fishing, the raising of livestock, and sales of handicrafts. Because there are few jobs, a large proportion of the work force has left to seek employment overseas.

    GDP: purchasing power parity—$13.9 million (FY94/95 est.)

    GDP—real growth rate: NA%

    GDP—per capita: purchasing power parity—$2,000 (FY94/95 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): NA%

    Labor force: 2,416 (1991 est.)
    note: a large proportion of the work force has left to seek employment overseas

    Labor force—by occupation: professional, technical, and related workers 8.7%, managerial, administrative, and clerical 12.8%, sales people 8.1%, farmers, fishermen 5.4%, craftspersons, production process workers 14.7%, others 50.3% (1987)

    Unemployment rate: NA%

    Budget:
    revenues: $11.2 million
    expenditures: $11 million, including capital expenditures of $NA (FY92/93)

    Industries: crafts (furniture, lacework, fancy woodwork), fishing

    Industrial production growth rate: NA%

    Electricity—production: 6 million kWh (1996)

    Electricity—production by source:
    fossil fuel: 100%
    hydro: 0%
    nuclear: 0%
    other: 0% (1996)

    Electricity—consumption: 6 million kWh (1996)

    Electricity—exports: 0 kWh (1996)

    Electricity—imports: 0 kWh (1996)

    Agriculture—products: maize, 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: 1 Saint Helenian pound (úS) = 100 pence

    Exchange rates: Saint Helenian pounds (úS) per US$1—0.6057 (January 1999), 0.6037 (1998), 0.6047 (1997), 0.6403 (1996), 0.6335 (1995), 0.6529 (1994); note—the Saint Helenian pound is at par with the British pound

    Fiscal year: 1 April—31 March

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Revised 1-Mar-99
Copyright © 1999 Photius Coutsoukis (all rights reserved)