The economy of Seychelles advanced by 21.7% year-on-year in the third quarter of 2021, following a record 34% rise in the previous three-month period, amid the ongoing recovery from the Covid-19 crisis. Main positive contributions to the GDP growth came from accommodation & food services (261% vs 643% in Q2), which is a good indicator of the tourism sector; transportation & storage (306% vs 310%); wholesale and retail trade, repair of motor vehicles and motorcycles (64% vs 72%) and information & communication (42% vs 22%). On a quarterly basis, the economy rose 2.6%, mainly boosted by accommodation & food services (9.8%), as a result of an increase in tourist arrivals; transportation & storage (37.1%) due to an increase in air traffic and information & communication (15%) source: National Bureau of Statistics, Seychelles

GDP Annual Growth Rate in Seychelles averaged 3.57 percent from 2000 until 2021, reaching an all time high of 34 percent in the second quarter of 2021 and a record low of -24 percent in the second quarter of 2020. This page provides - Seychelles GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Seychelles GDP Annual Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on January of 2022.

GDP Annual Growth Rate in Seychelles is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Seychelles GDP Annual Growth Rate is projected to trend around 7.00 percent in 2023 and 6.40 percent in 2024, according to our econometric models.

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Seychelles GDP Annual Growth Rate


Seychelles GDP Annual Growth Rate
Seychelles is one of the most developed countries in Africa. The country is known for its upmarket tourism and offshore financial center. In recent years, to make the economy less dependent on tourism, Seychelles promoted the development of farming and fishing industries.
Actual Previous Highest Lowest Dates Unit Frequency
21.70 34.00 34.00 -24.00 2000 - 2021 percent Quarterly
2014=100, NSA

Calendar GMT Actual Previous Consensus TEForecast
2021-04-01 10:00 AM Q4 -15.2% -14.1% -10%
2022-01-07 10:00 AM Q3 21.7% 34% 12%
2022-04-01 10:00 AM Q4 21.7%


Related Last Previous Unit Reference
GDP Annual Growth Rate 21.70 34.00 percent Sep/21
GDP From Utilities 150.90 158.80 SCR Million Sep/21
GDP From Transport 240.40 174.90 SCR Million Sep/21
GDP From Public Administration 521.90 518.20 SCR Million Sep/21
GDP From Construction 210.10 209.40 SCR Million Sep/21
GDP From Agriculture 77.60 120.40 SCR Million Sep/21
GDP Constant Prices 5671.50 5528.50 SCR Million Sep/21


News Stream
Seychelles GDP Expands 21.7% YoY in Q3
The economy of Seychelles advanced by 21.7% year-on-year in the third quarter of 2021, following a record 34% rise in the previous three-month period, amid the ongoing recovery from the Covid-19 crisis. Main positive contributions to the GDP growth came from accommodation & food services (261% vs 643% in Q2), which is a good indicator of the tourism sector; transportation & storage (306% vs 310%); wholesale and retail trade, repair of motor vehicles and motorcycles (64% vs 72%) and information & communication (42% vs 22%). On a quarterly basis, the economy rose 2.6%, mainly boosted by accommodation & food services (9.8%), as a result of an increase in tourist arrivals; transportation & storage (37.1%) due to an increase in air traffic and information & communication (15%).
2022-01-07
Seychelles Economy Remains Stuck in Recession
The economy of Seychelles plunged 15.2% year-on-year in the fourth quarter of 2020, following an 18.2% decline in the previous period. It was the third consecutive quarter of economic contraction as the all-important tourism sector has been battered by the COVID-19 pandemic. Accordingly, the steepest decline was still observed in accommodation & food services activities (-78.9% vs -86.2% in Q3), as global travel restrictions continued to hamper tourist arrivals. Acitivity also continued to fall markedly in transportation & storage (-78.9% vs -86.2%) and administrative & support services (-67.4% vs -74.1%). On the other hand, strong growth was recorded in real estate activities (28% vs 49.9%); wholesale & retail trade (16.9% vs 36.4%) and information & communication (10.7% vs 13.7%).
2021-04-02