Seychelles: Recent Economic Developments

June 21, 1996

Summary

This paper reviews economic developments in Seychelles during 1990–95. After growing in 1992 and 1993 by 6.9 percent and 5.1 percent, respectively, real GDP contracted in 1994 by an estimated 1.6 percent, mainly as a result of a sharp decline in tourist receipts and a poor performance in the fishing sector. The annual rate of inflation as measured by the retail price index remained subdued at about 1.6 percent during 1993–94, compared with about 2.6 percent during the preceding two years.

Subject: Agroindustries, Banking, Commercial banks, Economic sectors, Financial institutions, Imports, International trade, Labor, Tourism, Wages

Keywords: about SR, Africa, Agroindustries, balance of payments, commercial bank, Commercial banks, CR, debt service, Europe, exchange rate, Imports, ISCR, merchandise trade account, net petroleum earnings, retail price index, rupee terms, Seychelles rupee, SR million, Tourism, U.S. dollar, Wages

Pages:
100
Volume:
1996
DOI:
https://doi.org/10.5089/9781451836189.002
Issue:
046
Series:
Country Report No. 1996/046
Stock No:
1SYCEA0011996
ISBN:
9781451836189
ISSN:
1934-7685

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Notes

This report was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.

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