Seychelles

Location : archipelago in the Indian Ocean, northeast of Madagascar

Capital : Victoria

Languages : Creole 91.8%, English 4.9% (official), other 3.1%, unspecified 0.2% (2002 census)

Area : 455 sq km

Land Use : arable land: 2.22%; permanent crops: 13.33%; other: 84.45% (2001)

Natural Resources : fish, copra, cinnamon trees

Population : 81,188 (July 2005 est.).

Labour force : 30,900 (1996)

Labour force participation rate : 38.06% of population (1996)

International Organisation participation : ACCT, ACP, AFDB, AU, C, FAO, G-77, IAEA, IBRD, ICAO, ICC (signatory), ICFTU, ICRM, IFAD, IFC, IFRCS, ILO, IMF, IMO, IOC, Interpol, IOC, ISO (correspondent), ITU, MIGA, NAM, OPCW, SADC, UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WHO, WIPO, WMO, WToO, WTO (observer)

GDP per capita : U$7,800 (2002 est.)

GDP Real Growth Rate : 1.5% (2004 est.)

GDP sectoral composition : agriculture: 2.8%; industry: 28.7%; services: 68.9% (2004 est.)

Investment (gross fixed): 39.5% of GDP (2004 est.)

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

Agriculture - products : coconuts, cinnamon, vanilla, sweet potatoes, cassava (tapioca), bananas; broiler chickens; tuna fish

Exports : U$256.2 million f.o.b. (2004 est.)

Exports - commodities : canned tuna, frozen fish, cinnamon bark, copra, petroleum products (reexports)

Exports - partners : UK 29.1%, France 17.1%, Spain 11.8%, Japan 9.2%, Italy 8.1%, Germany 6.2%, Netherlands 4.3% (2004)

Imports : U $ 393.4 million f.o.b. (2004 est.)

Imports - commodities : machinery and equipment, foodstuffs, petroleum products, chemicals

Imports - partners : Saudi Arabia 15.6%, Spain 14.1%, France 11%, Singapore 7.5%, Italy 7.3%, South Africa 7.3%, UK 5% (2004)

QUALITATIVE TRADE PROFILE

The key sector of the Seychellois economy is the tourist sector, which accounts for approximately a third of employment and more than 70% of foreign currency earnings. The growth sector over the past few years has been tuna fishing, which has been promoted by the government as a viable method to diversify away from small scale agriculture and manufacturing. State-owned and parastatal enterprises accounted in the mid-1990s for more than half of GDP and some privatisation of state enterprises was under way during the 1990s.

Seychelles applies a simple average tariff of 28.3% on all goods. Agricultural goods are subject to a simple average tariff of 38.4% and non-agricultural goods of 26.8%. Non ad-valorem duties are applied to approximately 1.6% of tariff lines.

INSTITUTIONAL FRAMEWORK 

Seychelles ' trade policy formulation, negotiation and implementation process has not yet been determined

TRADE AGREEMENTS

Bilateral

Seychelles bilateral relations have not yet been determined.

Regional

Seychelles is a member of the Southern Africa Development Community (SADC), the Common Market for Eastern and Southern Africa (COMESA). the Indian Ocean Commission (IOC), the Regional Integration Facilitation Forum (RIFF), the Cross-Border Initiative (CBI) and the Organization of African Unity (OAU)/African Economic Community (AEC). Seychelles is currently negotiating an Economic Partnership Agreement with the EU through the Eastern and Southern Africa (ESA) configuration.

Multilateral

Seychelles is seeking to accede to the WTO. However, this process has largely stalled as the last meeting of the Seychelles Working Group was in 1998. 

NEED PRIORITIES

Seychelles ' priorities are in relation to its participation in regional forums and EPA negotiations. Its ability to benefit from these arrangements are circumscribed by limited technical and financial resources. Source: Commonwealth Yearbook 2005, World Fact Book, WTO Secretariat.