, the government has encouraged foreign
investment to upgrade hotels and other services. At the same time,
the government has moved to reduce the dependence on tourism by
promoting the development of farming, fishing, and small-scale
manufacturing. Sharp drops illustrated the vulnerability of the
tourist sector in 1991-92 due largely to the Gulf War and once again
following the 11 September 2001 terrorist attacks on the US.
Economic growth slowed in 1998-2002 and fell in 2003-04, due to
sluggish tourist and tuna sectors, but resumed in 2005-07. Real GDP
grew by 5.8% in 2007, driven by tourism and a boom in
tourism-related construction. The Seychelles rupee was allowed to
depreciate in 2006 after being overvalued for years and fell by 10%
in the first 9 months of 2007.

GDP (purchasing power parity):

$1.378 billion (2007 est.)

GDP (official exchange rate):

$710 million (2007 est.)

GDP - real growth rate:

5.3% (2007 est.)

GDP - per capita (PPP):

$16,600 (2007 est.)

GDP - composition by sector:

agriculture: 2.1%
industry: 28.3%
services: 69.6% (2007 est.)

Labor force:

39,560 (2006)

Labor force - by occupation:

agriculture: 3%
industry: 23%
services: 74% (2006)

Unemployment rate:

2% (2006 est.)

Population below poverty line:

NA%

Household income or consumption by percentage share:

lowest 10%: NA%
highest 10%: NA%

Investment (gross fixed):

8.9% of GDP (2007 est.)

Budget:

revenues: $372.3 million
expenditures: $362.2 million (2007 est.)

Fiscal year:

calendar year

Public debt:

92.3% of GDP (2007 est.)

Inflation rate (consumer prices):

5.3% (2007 est.)

Central bank discount rate:

5.13% (31 December 2007)

Commercial bank prime lending rate:

10.89% (31 December 2007)

Stock of money:

$330.8 million (31 December 2007)

Stock of quasi money:

$249 million (31 December 2007)

Stock of domestic credit:

$660.2 million (31 December 2007)

Agriculture - products:

coconuts, cinnamon, vanilla, sweet potatoes, cassava (tapioca),
bananas; poultry; tuna

Industries:

fishing, tourism, processing of coconuts and vanilla, coir (coconut
fiber) rope, boat building, printing, furniture; beverages

Industrial production growth rate:

7% (2007 est.)

Electricity - production:

208 million kWh (2006 est.)

Electricity - consumption:

193.4 million kWh (2006 est.)

Electricity - e