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)$31.1 million (FY09/10 est.)
GDP (official exchange rate)$NA
GDP - real growth rateNA%
GDP - per capita (PPP)$7,800 (FY09/10 est.)
GDP - composition, by sector of originagriculture: NA%
industry: NA%
services: NA%
Agriculture - productscoffee, corn, potatoes, vegetables; fish, lobster; livestock; timber
Industriesconstruction, crafts (furniture, lacework, fancy woodwork), fishing, collectible postage stamps
Industrial production growth rateNA%
Labor force2,486 (1998 est.)
Labor force - by occupationagriculture: 6%
industry: 48%
services: 46% (1987 est.)
Unemployment rate14% (1998 est.)
Population below poverty lineNA%
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Budgetrevenues: $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 year1 April - 31 March
Inflation rate (consumer prices)4% (2012 est.)
Exports$19 million (2004 est.)
Exports - commoditiesfish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts
Imports$20.53 million (2010 est.)
Imports - commoditiesfood, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
Debt - external$NA
Exchange ratesSaint 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.)