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The Economy of Saint Helena

Saint Helenian note: referred to Economy

Saint Helena's map

Economy - overview: The economy depends largely on financial assistance from the UK, which amounted 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:

GDP - real growth rate: NA%

GDP - per capita:

GDP - composition by sector: agriculture: NA% industry: NA% services: NA%

Population below poverty line:

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

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 2,486 note: 1,200 work offshore (1998 est.)

Labor force - by occupation: agriculture: 6% industry: 48% services: 46% (1987 est.)

Unemployment rate: 14% (1998 est.)

Budget: revenues: $12.33 million expenditures: $30.28 million note: revenue data reflect locally raised revenues only; the budget deficit is resolved by grant aid from the United Kingdom (FY06/07 est.)

Industries: construction, crafts (furniture, lacework, fancy woodwork), fishing, philatelic sales

Industrial production growth rate: NA%

Electricity - production: 8 million kWh (2006 est.)

Electricity - production by source:

Electricity - consumption: 7.44 million kWh (2006 est.)

Electricity - exports: 0 kWh (2007 est.)

Electricity - imports: 0 kWh (2007 est.)

Oil - production: 0 bbl/day (2007 est.)

Oil - consumption: 60 bbl/day (2006 est.)

Oil - exports: 0 bbl/day (2005)

Oil - imports: 85.42 bbl/day (2005)

Oil - proved reserves: 0 bbl (1 January 2006 est.)

Natural gas - production: 0 cu m (2007 est.)

Natural gas - consumption: 0 cu m (2007 est.)

Natural gas - exports: 0 cu m (2007 est.)

Natural gas - imports: 0 cu m (2007 est.)

Natural gas - proved reserves: 0 cu m (1 January 2006 est.)

Agriculture - products: coffee, corn, potatoes, vegetables; timber; fish, lobster (on Tristan da Cunha); livestock

Exports: $19 million f.o.b. (2004 est.)

Exports - commodities: fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts

Exports - partners:

Imports: $45 million c.i.f. (2004 est.)

Imports - commodities: food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts

Imports - partners:

Debt - external: $NA

Economic aid - recipient:

Currency:

Currency code:

Exchange rates: Saint Helenian pounds (SHP) per US dollar - 0.5302 (2008), 0.4993 (2007), 0.5418 (2006), 0.5493 (2005), 0.5462 (2004) note: the Saint Helenian pound is on par with the British pound

Fiscal year: