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Saint Helena:
Economy

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Economy - overview
Definition
The economy depends largely on financial assistance from the UK, which will amount to about $27 million in FY06/07 or almost 70% of annual budgetary revenues. The local population earns income from fishing, raising livestock, and sales of handicrafts. Because there are few jobs, 25% of the work force has left to seek employment on Ascension Island, on the Falklands, and in the UK.
GDP (purchasing power parity)
Definition - World rank and map
$18 million (1998 est.)
GDP (official exchange rate)
Definition
$NA
GDP - real growth rate
Definition - World rank and map
NA%
GDP - per capita
Definition - World rank and map
$2,500 (1998 est.)
GDP - composition by sector
Definition
agriculture: NA%
industry: NA%
services: NA%
Labor force
Definition
2,486
note: 1,200 work offshore (1998 est.)
Labor force - by occupation
Definition
agriculture: 6%
industry: 48%
services: 46% (1987 est.)
Unemployment rate
Definition - World rank and map
14% (1998 est.)
Population below poverty line
Definition
NA%
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
3.2% (1997 est.)
Budget
Definition
revenues: $13.09 million
expenditures: $32.16 million
note: revenue data reflect locally raised revenues only; the budget deficit is resolved by grant aid from the United Kingdom (FY06/07 est.)
Agriculture - products
Definition
coffee, corn, potatoes, vegetables; timber; fish, lobster (on Tristan da Cunha); livestock
Industries
Definition
construction, crafts (furniture, lacework, fancy woodwork), fishing, philatelic sales
Industrial production growth rate
Definition - World rank and map
NA%
Electricity - production
Definition - World rank and map
8 million kWh (2005)
Electricity - consumption
Definition - World rank and map
7.44 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
978.9 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005 est.)
Oil - consumption
Definition - World rank and map
70 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
9.2 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
64.07 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Exports
Definition - World rank and map
$19 million f.o.b. (2004 est.)
Exports - commodities
Definition
fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts
Exports - partners
Definition
Tanzania 37.7%, US 17.4%, Japan 15.2%, UK 8.4%, Nigeria 4.8%, Spain 4.5% (2006)
Imports
Definition - World rank and map
$45 million c.i.f. (2004 est.)
Imports - commodities
Definition
food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
Imports - partners
Definition
UK 53.5%, South Africa 14.3%, Spain 10.3%, Tanzania 8.5%, US 4.6% (2006)
Debt - external
Definition - World rank and map
$NA
Economic aid - recipient
Definition
$29.56 million obtained in a grant from the United Kingdom (FY06/07)
Currency (code)
Definition
Saint Helenian pound (SHP)
Exchange rates
Definition
Saint Helenian pounds per US dollar - 0.4993 (2007), 0.5434 (2006), 0.5493 (2005), 0.5462 (2004), 0.6125 (2003)
note: the Saint Helenian pound is on par with the British pound
Fiscal year
Definition
1 April - 31 March


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