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Economy - overview:
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The economy depends largely on financial assistance from the UK, which amounted to about $5 million in 1997 or almost one-half of annual budgetary revenues. The local population earns income from fishing, the raising of 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.
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GDP:
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purchasing power parity - $18 million (1998 est.)
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GDP - real growth rate:
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NA%
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GDP - per capita:
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purchasing power parity - $2,500 (1998 est.)
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GDP - composition by sector:
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agriculture: NA%
industry: NA%
services: NA%
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Population below poverty line:
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NA%
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Household income or consumption by percentage share:
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lowest 10%: NA%
highest 10%: NA%
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Inflation rate (consumer prices):
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3.2% (1997 est.)
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Labor force:
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3,500
note: 1,200 work offshore (1998 est.)
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Labor force - by occupation:
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agriculture and fishing 6%, industry (mainly construction) 48%, services 46% (1987 est.)
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Unemployment rate:
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14% (1998 est.)
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Budget:
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revenues: $11.2 million
expenditures: $11 million, including capital expenditures of $NA (FY92)
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Industries:
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construction, crafts (furniture, lacework, fancy woodwork), fishing
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Industrial production growth rate:
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NA%
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Electricity - production:
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5 million kWh (2001)
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Electricity - production by source:
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fossil fuel: 100%
hydro: 0%
other: 0% (2001)
nuclear: 0%
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Electricity - consumption:
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4.65 million kWh (2001)
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Electricity - exports:
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0 kWh (2001)
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Electricity - imports:
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0 kWh (2001)
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Oil - production:
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0 bbl/day (2001 est.)
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Oil - consumption:
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200 bbl/day (2001 est.)
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Oil - exports:
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NA (2001)
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Oil - imports:
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NA (2001)
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Agriculture - products:
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corn, potatoes, vegetables; timber; fish, crawfish (on Tristan da Cunha)
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Exports:
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$704,000 f.o.b. (1995)
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Exports - commodities:
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fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts
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Exports - partners:
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US 23.7%, Japan 20.5%, Netherlands 16%, Tanzania 15.4%, Spain 6.4%, UK 5.1%, Indonesia 4.5% (2002)
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Imports:
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$14.434 million c.i.f. (1995)
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Imports - commodities:
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food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
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Imports - partners:
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UK 47.6%, Tanzania 14.6%, Italy 12.1%, South Africa 10.9%, US 5.3% (2002)
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Debt - external:
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$NA
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Economic aid - recipient:
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$12.6 million (1995); note - $5.3 million from UK (1997)
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Currency:
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Saint Helenian pound (SHP)
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Currency code:
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SHP
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Exchange rates:
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Saint Helenian pounds per US dollar - 0.6661 (2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998),
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Fiscal year:
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1 April - 31 March
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