economy of saint helena

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. A campaign is currently underway (reported on BBC radio 4, Today programme, 10th July 2004) to encourage emigration from the UK to Saint Helena to aid development of the economy. There is also some lobbying for an airport. 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: farmers and fishermen 6%, industry (mainly construction) 48%, services 46% (1987 est.) Unemployment rate: 18% (1996) 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: 6 GWh (1998) Electricity - production by source:
fossil fuel: 100%
hydro: 0%
nuclear: 0%
other: 0% (1998) Electricity - consumption: 6 GWh (1998) Electricity - exports: 0 kWh (1998) Electricity - imports: 0 kWh (1998) 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 = 100 pence Exchange rates: Saint Helenian pounds per US$1 - 0.6092 (January 2000), 0.6180 (1999), 0.6037 (1998), 0.6047 (1997), 0.6403 (1996), 0.6335 (1995); note - the Saint Helenian pound is at par with the British pound Fiscal year: 1 April - 31 March Banking: The Bank of St. Helena provides the communities of St. Helena and Ascension with modern commercial banking services aimed at simplifying and making more efficient everyday financial transactions. http://www.SaintHelenaBank.co.sh.

See also : Saint Helena

Saint Helena

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