Saint Helena, Ascension, and Tristan da Cunha: Economy#
The economy depends largely on financial assistance from the UK, which amounted to about $27 million in FY06/07 or more than twice the level of annual budgetary revenues. The local population earns income from fishing, raising 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.Economic Facts#
GDP (purchasing power parity) | $31.1 million (FY09/10 est.) |
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GDP (official exchange rate) | $NA |
GDP - real growth rate | NA% |
GDP - per capita (PPP) | $7,800 (FY09/10 est.) |
GDP - composition, by sector of origin | agriculture: NA% industry: NA% services: NA% |
Agriculture - products | coffee, corn, potatoes, vegetables; fish, lobster; livestock; timber |
Industries | construction, crafts (furniture, lacework, fancy woodwork), fishing, collectible postage stamps |
Industrial production growth rate | NA% |
Labor force | 2,486 (1998 est.) |
Labor force - by occupation | agriculture: 6% industry: 48% services: 46% (1987 est.) |
Unemployment rate | 14% (1998 est.) |
Population below poverty line | NA% |
Household income or consumption by percentage share | lowest 10%: NA% highest 10%: NA% |
Budget | revenues: $8.845 million expenditures: $21.73 million note: revenue data reflect locally raised revenues only; the budget deficit is resolved by grant aid from the UK (FY06/07 est.) |
Fiscal year | 1 April - 31 March |
Inflation rate (consumer prices) | 4% (2012 est.) |
Exports | $19 million (2004 est.) |
Exports - commodities | fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts |
Imports | $20.53 million (2010 est.) |
Imports - commodities | food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts |
Debt - external | $NA |
Exchange rates | Saint Helenian pounds (SHP) per US dollar - 0.7391 (2016 est.) 0.6542 (2015 est.) 0.607 (2014 est.) 0.6391 (2013 est.) 0.63 (2012 est.) |