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Saint Helena Economy 1996

Overview:

The economy depends primarily on financial assistance from the UK. The local population earns some income from fishing, the raising of livestock, and sales of handicrafts. Because there are few jobs, a large proportion of the work force has left to seek employment overseas.

National product:

GDP $NA

National product real growth rate:

NA%

National product per capita:

$NA

Inflation rate (consumer prices):

-1.1% (1986)

Unemployment rate:

NA%

Budget:

revenues:

$11.2 million

expenditures:

$11 million, including capital expenditures of $NA (FY92/93)

Exports:

$27,400 (f.o.b., FY92/93)

commodities:

fish (frozen and salt-dried skipjack, tuna), handicrafts

partners:

South Africa, UK

Imports:

$9.8 million (c.i.f., FY92/93)

commodities:

food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts

partners:

UK, South Africa

External debt:

$NA

Industrial production:

growth rate NA%

Electricity:

capacity:

9,800 kW

production:

10 million kWh

consumption per capita:

NA kWh (1993)

Industries:

crafts (furniture, lacework, fancy woodwork), fishing

Agriculture:

maize, potatoes, vegetables; timber production being developed; crawfishing on Tristan da Cunha

Economic aid:

recipient:

Western (non-US) countries, ODA and OOF bilateral commitments (1992-93), $13.5 million

Currency:

1 Saint Helenian pound (#S) = 100 pence

Exchange rates:

Saint Helenian pounds (#S) per US$1 - 0.6350 (January 1995), 0.6529 (1994), 0.6033 (1993), 0.5664 (1992), 0.5652 (1991), 0.5603 (1990); note - the Saint Helenian pound is at par with the British pound

Fiscal year:

1 April - 31 March

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