Seychelles flag Seychelles: Visió econòmica i política

Xifres de comerç exterior de les Seychelles

Foreign Trade in Figures

The Archipelago of Seychelles is very open to trade, with a trade-to-GDP ratio of 233% (World Bank, latest data available). The country is a member of COMESA (the Common Market of East and South Africa) and of the WTO  since 2015. Customs duties remain comparatively high in Seychelles, especially in the fishing sector. In addition, while the country does not have major trade barriers, the lack of infrastructure also remains an important obstacle to trade. The government has acted to encourage foreign trade, including tax incentives for the tourism industry and the reduction of customs procedures at ports. To consult the list of trade agreements, refer to the website of the Seychelles Trade Portal. The vast majority of exports are made of prepared or preserved fish, followed by petroleum oils and ships; while the country mostly imports mineral fuels (22.1%), fish and crustaceans (12.3%), nuclear reactors, boilers, machinery and mechanical appliances (6.4%), and electrical machinery (5.6% - data ITC 2022).

Seychelles’ largest clients are the United Arab Emirates (36.2% of total exports) France (28.3%), the United Kingdom (10.9%), Italy (6.1%), and Bahamas (3.6%); whereas its main suppliers are the United Arab Emirates (34.1% of total imports), France (10.1%), Spain (7.8%), South Africa (6.4%), and India (5.3% - ITC 2022).

The country has a structural trade deficit, and the trend is expected to continue in future years. According to WTO, exports of goods stood at USD 537 million (an increase of 15.7% year-on-year) in 2022, against USD 1.3 billion of imports (+20.3 y-o-y%). Concerning services, the country is a net exporter thanks to its tourism activities: in 2022, exports totaled USD 1.6 billion against USD 995 million in imports. Data from the World Bank shows that in 2022 the archipelago’s trade deficit stood at 10.2% of its GDP (down from 12.8% recorded one year earlier). Preliminary data from the National Bureau of Statistics show that, in 2023, exports were valued at USD 541 million (stable y-o-y), whereas imports stood at USD 1.2 billion (+4.9% vis-à-vis one year earlier).

 
Foreign Trade Values 20192020202120222023
Imports of Goods (million USD) 1,1671,0041,1331,3641,431
Exports of Goods (million USD) 518432464537541
Imports of Services (million USD) 9115007981,004879
Exports of Services (million USD) 1,6017671,2351,6841,744

Source: World Trade Organisation (WTO) ; Latest available data

Foreign Trade Indicators 20182019202020212022
Foreign Trade (in % of GDP) 208.7197.0179.3235.8233.1
Trade Balance (million USD) -615-631-359-507-731
Trade Balance (Including Service) (million USD) 8460-92-70-51
Imports of Goods and Services (Annual % Change) 3.20.8-15.57.73.1
Exports of Goods and Services (Annual % Change) 2.13.1-25.79.99.1
Imports of Goods and Services (in % of GDP) 110.9103.4101.6124.3121.6
Exports of Goods and Services (in % of GDP) 97.893.577.7111.5111.5

Source: World Bank ; Latest available data

Foreign Trade Forecasts 20232024 (e)2025 (e)2026 (e)2027 (e)
Volume of exports of goods and services (Annual % change) 6.3-0.216.53.23.2
Volume of imports of goods and services (Annual % change) 10.72.99.94.94.6

Source: IMF, World Economic Outlook ; Latest available data

Note: (e) Estimated Data

 
International Economic Cooperation
Member of SADC - Southern African Development Community

Member of COMESA - Common Market for Eastern and Southern Africa

 

Main Partner Countries

Main Customers
(% of Exports)
2022
France 26.4%
United Arab Emirates 24.7%
United Kingdom 13.7%
Spain 6.1%
Germany 3.1%
See More Countries 26.1%
Main Suppliers
(% of Imports)
2022
United Arab Emirates 18.4%
Netherlands 11.5%
Cayman Islands 5.7%
France 5.5%
South Africa 3.8%
See More Countries 55.1%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

Main Products

0.6 bn USD of products exported in 2022
Prepared or preserved fish; caviar and caviar...Prepared or preserved fish; caviar and caviar substitutes prepared from fish eggs 50.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 22.4%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 9.4%
Yachts and other vessels for pleasure or sports;...Yachts and other vessels for pleasure or sports; rowing boats and canoes 7.4%
Powered aircraft "e.g. helicopters and aeroplanes...Powered aircraft "e.g. helicopters and aeroplanes"; spacecraft, incl. satellites, and suborbital and spacecraft launch vehicles 1.9%
See More Products 8.9%
2.1 bn USD of products imported in 2022
Yachts and other vessels for pleasure or sports;...Yachts and other vessels for pleasure or sports; rowing boats and canoes 44.7%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 11.8%
Frozen fish (excl. fish fillets and other fish...Frozen fish (excl. fish fillets and other fish meat of heading 0304) 6.6%
Cartons, boxes, cases, bags and other packing...Cartons, boxes, cases, bags and other packing containers, of paper, paperboard, cellulose wadding or webs of cellulose fibres, n.e.s.; box files, letter trays, and similar articles, of paperboard of a kind used in offices, shops or the like 1.8%
Flat-rolled products of iron or non-alloy steel,...Flat-rolled products of iron or non-alloy steel, of a width >= 600 mm, hot-rolled or cold-rolled "cold-reduced", clad, plated or coated 0.8%
See More Products 34.3%

Source: Comtrade, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

 
 

To go further, check out our service Import-Export Flows.

 

Main Services

2.3 bn USD of services exported in 2022
49.01%
41.62%
8.15%
0.72%
0.45%
0.06%
n/a%
1.0 bn USD of services imported in 2022
63.94%
23.90%
5.36%
4.35%
0.98%
0.95%
0.30%
0.22%
n/a%
n/a%

Source: United Nations Statistics Division, 2024. Because of rounding, the sum of the percentages may be smaller/greater than 100%.

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Actualitzacions: May 2024

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