Overview: In this small, open, tropical island economy, the tourist industry employs about 30% of the labor force and provides more than 70% of hard currency earnings. In recent years the government has encouraged foreign investment in order to upgrade hotels and other services. At the same time, the government has moved to reduce the high dependence on tourism by promoting the development of farming, fishing, and small-scale manufacturing.

National product: GDP - exchange rate conversion - $350 million (1991 est.)

National product real growth rate: -4.5% (1991 est.)

National product per capita: $5,200 (1991 est.)

Inflation rate (consumer prices): 1.8% (1990 est.)

Unemployment rate: 9% (1987)

Budget: revenues $180 million; expenditures $202 million, including capital expenditures of $32 million (1989)

External debt: $189 million (1991 est.)

Industrial production: growth rate 7% (1987); accounts for 10% of GDP

Electricity: 30,000 kW capacity; 80 million kWh produced, 1,160 kWh per capita (1991)

Industries: tourism, processing of coconut and vanilla, fishing, coir rope factory, boat building, printing, furniture, beverage

Agriculture: accounts for 7% of GDP, mostly subsistence farming; cash crops - coconuts, cinnamon, vanilla; other products - sweet potatoes, cassava, bananas; broiler chickens; large share of food needs imported; expansion of tuna fishing under way

Economic aid: US commitments, including Ex-Im (FY78-89), $26 million; Western (non-US) countries, ODA and OOF bilateral commitments (1978-89), $315 million; OPEC bilateral aid (1979-89), $5 million; Communist countries (1970-89), $60 million

Currency: 1 Seychelles rupee (SRe)=100 cents

Exchange rates: Seychelles rupees (SRe) per US$1 - 5.2545 (January 1993), 5.1220 (1992), 5.2893 (1991), 5.3369 (1990), 5.6457 (1989), 5.3836 (1988)

Fiscal year: calendar year