Economy - overview 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.

GDP purchasing power parity - $18 million (1998 est.)

GDP - real growth rate NA%

GDP - per capita purchasing power parity - $2,500 (1998 est.)

GDP - composition by sector
agriculture: NA%
industry: NA%
services: NA%

Population below poverty line NA%

Household income or consumption by percentage share
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices) 3.2% (1997 est.)

Labor force 3,500 (1998 est.)
note: 1,200 work offshore

Labor force - by occupation agriculture and fishing 6%, industry (mainly construction) 48%, services 46% (1987 est.)

Unemployment rate 14% (1998 est.)

Budget
revenues: $11.2 million
expenditures: $11 million, including capital expenditures of $NA (FY92)

Industries construction, crafts (furniture, lacework, fancy woodwork), fishing

Industrial production growth rate NA%

Electricity - production 5 million kWh (2000)

Electricity - production by source
fossil fuel: 100%
hydro: 0%
other: 0% (2000)
nuclear: 0%

Electricity - consumption 4.65 million kWh (2000)

Electricity - exports 0 kWh (2000)

Electricity - imports 0 kWh (2000)

Agriculture - products corn, potatoes, vegetables; timber; fish, crawfish (on Tristan da Cunha)

Exports $704,000 (f.o.b., 1995)

Exports - commodities fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts

Exports - partners South Africa, UK

Imports $14.434 million (c.i.f., 1995)

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

Imports - partners UK, South Africa

Debt - external $NA

Economic aid - recipient $12.6 million (1995); note - $5.3 million from UK (1997)

Currency Saint Helenian pound (SHP)

Currency code SHP

Exchange rates Saint Helenian pounds per US dollar - 0.6981 (January 2002), 0.6944 (2001), 0.6596 (2000), 0.6180 (1999), 0.6037 (1998), 0.6047 (1997); note - the Saint Helenian pound is at par with the British pound

Fiscal year 1 April - 31 March

NOTE: The information regarding Saint Helena on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Helena Economy 2002 information contained here. All suggestions for corrections of any errors about Saint Helena Economy 2002 should be addressed to the CIA.