00 Second Avenue, Suite 400C, New York, NY 10017

Diplomatic representation from the US: the US does not have an
embassy in Seychelles; the ambassador to Mauritius is accredited to
Seychelles

Flag description: five oblique bands of blue (hoist side),
yellow, red, white, and green (bottom) radiating from the bottom of
the hoist side

Economy

Economy--overview: Since independence in 1976, per capita output
in this Indian Ocean archipelago has expanded to roughly seven times
the old near-subsistence level. Growth has been led by the tourist
sector, which employs about 30% of the labor force and provides more
than 70% of hard currency earnings, and by tuna fishing, which
accounted for 70% of GDP in 1996-97. In recent years the government
has encouraged foreign investment in order 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. The vulnerability of the
tourist sector was illustrated by the sharp drop in 1991-92 due
largely to the Gulf war. Although the industry has rebounded, the
government recognizes the continuing need for upgrading the sector
in the face of stiff international competition. Other issues facing
the government are the curbing of the budget deficit and further
privatization of public enterprises.

GDP: purchasing power parity--$550 million (1997 est.)

GDP--real growth rate: 4.3% (1997 est.)

GDP--per capita: purchasing power parity?$7,000 (1997 est.)

GDP--composition by sector:
agriculture: 4%
industry: 15%
services: 81% (1994)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 0.6% (1997)

Labor force: 26,000 (1996)

Labor force--by occupation: industry 19%, services 57%, government
14%, fishing, agriculture, and forestry 10% (1989)

Unemployment rate: NA%

Budget:
revenues: $220 million
expenditures: $241 million, including capital expenditures of $36
million (1994 est.)

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

Industrial production growth rate: 4% (1992)

Electricity--production: 125 million kWh (1996)

Electricity--production by source:
fossil fuel: 1