Seychelles: Visió econòmica i política
The Archipelago of Seychelles is very open to trade, with a trade-to-GDP ratio of 153% (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. Almost 85% of exports are made of prepared or preserved fish, followed by ships (2.5%) and petroleum oils (2.1%); while the country mostly imports machinery (8.8%), electrical machinery (8.7%), fish (6.7%), ships (5.7%), and mineral fuels (5.4% - data ITC 2021).
Seychelles’ largest clients are France (21.7% of total exports), Japan (11.4%), the United Kingdom (10.2%), Mauritius (9.4%), Italy (6.4%), and Spain (5.8%); whereas its main suppliers are the United Arab Emirates (14.6% of total imports), Spain (10.8%), China (9.2%), South Africa (7.9%), and France (7.1% - ITC 2021).
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 464 million (an increase of 7.4% year-on-year) in 2021, against USD 1.1 billion of imports (+12.8 y-o-y%). Concerning services, the country is a net exporter thanks to its tourism activities: in 2021, exports totalled USD 892 billion against USD 476 million in imports. Data from the World Bank shows that in 2021 the archipelago’s trade deficit stood at 8.1% of its GDP (up from 5.2% recorded one year earlier). Preliminary data from the National Bureau of Statistics show that in 2022, domestic exports were valued at SCR 5,4 billion (6.5% higher than in 2020), whereas imports stood at SCR 4,568.1 million (-15.6% vis-à-vis one year earlier, of which 87.7% comprised canned tuna), whereas imports stood at SCR 19,456 billion (+2.6%).
Foreign Trade Values | 2017 | 2018 | 2019 | 2020 | 2021 |
Imports of Goods (million USD) | 1,302 | 1,271 | 1,167 | 1,004 | 1,133 |
Exports of Goods (million USD) | 547 | 569 | 518 | 432 | 464 |
Imports of Services (million USD) | 548 | 665 | 676 | 489 | 476 |
Exports of Services (million USD) | 982 | 1,099 | 1,111 | 651 | 892 |
Source: World Trade Organisation (WTO) ; Latest available data
Foreign Trade Indicators | 2017 | 2018 | 2019 | 2020 | 2021 |
Foreign Trade (in % of GDP) | 210.2 | 202.5 | 217.8 | 136.0 | 152.7 |
Trade Balance (million USD) | -672 | -615 | -631 | -359 | -507 |
Trade Balance (Including Service) (million USD) | -181 | 84 | 60 | -92 | -70 |
Imports of Goods and Services (Annual % Change) | 11.8 | 3.1 | 2.0 | -34.2 | 14.4 |
Exports of Goods and Services (Annual % Change) | 9.8 | 2.0 | 3.1 | -35.7 | 12.3 |
Imports of Goods and Services (in % of GDP) | 110.2 | 107.6 | 114.4 | 70.6 | 80.4 |
Exports of Goods and Services (in % of GDP) | 100.0 | 94.9 | 103.4 | 65.4 | 72.3 |
Source: World Bank ; Latest available data
Foreign Trade Forecasts | 2022 | 2023 (e) | 2024 (e) | 2025 (e) | 2026 (e) |
---|---|---|---|---|---|
Volume of exports of goods and services (Annual % change) | 0.0 | 5.3 | 16.2 | 12.2 | 5.0 |
Volume of imports of goods and services (Annual % change) | 8.5 | 3.7 | 9.2 | 6.8 | 7.3 |
Source: IMF, World Economic Outlook ; Latest available data
Note: (e) Estimated Data
Member of COMESA - Common Market for Eastern and Southern Africa
Main Customers (% of Exports) |
2021 |
Gibraltar | 33.0% |
Cayman Islands | 15.4% |
Bermuda | 12.0% |
Belize | 9.1% |
France | 7.0% |
See More Countries | 23.5% |
Main Suppliers (% of Imports) |
2021 |
South Africa | 18.7% |
Netherlands | 16.4% |
United Arab Emirates | 15.8% |
Italy | 14.7% |
France | 7.6% |
See More Countries | 26.8% |
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
Source: Comtrade, 2022. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
To go further, check out our service Import Export Flows.
1.7 bn USD of services exported in 2018 | |
56.06% | |
Merchanting and other trade-related...Merchanting and other trade-related services | 32.99% |
Miscellaneous business,...Miscellaneous business, professional, and technical services | 14.25% |
32.22% | |
Personal travelPersonal travel | 26.09% |
OtherOther | 26.09% |
Business travelBusiness travel | 6.12% |
OtherOther | 6.12% |
10.52% | |
Air transportAir transport | 5.81% |
PassengerPassenger | 2.97% |
OtherOther | 2.57% |
FreightFreight | 0.27% |
Sea transportSea transport | 4.71% |
FreightFreight | 2.85% |
OtherOther | 1.87% |
0.75% | |
Telecommunications servicesTelecommunications services | 0.75% |
0.37% | |
0.08% |
0.7 bn USD of services imported in 2018 | |
53.99% | |
Miscellaneous business,...Miscellaneous business, professional, and technical services | 33.15% |
32.05% | |
Sea transportSea transport | 20.90% |
FreightFreight | 15.67% |
OtherOther | 5.23% |
Air transportAir transport | 11.15% |
OtherOther | 6.30% |
PassengerPassenger | 4.85% |
10.33% | |
Personal travelPersonal travel | 10.15% |
OtherOther | 6.86% |
Education-related expenditureEducation-related expenditure | 1.84% |
Health-related expenditureHealth-related expenditure | 1.46% |
Business travelBusiness travel | 0.18% |
OtherOther | 0.18% |
1.11% | |
ReinsuranceReinsurance | 0.13% |
0.86% | |
0.64% | |
0.49% | |
Construction in the compiling...Construction in the compiling economy | 0.49% |
0.33% | |
0.20% | |
Telecommunications servicesTelecommunications services | 0.20% |
Source: United Nations Statistics Division, 2023. Because of rounding, the sum of the percentages may be smaller/greater than 100%.
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Actualitzacions: May 2023