National Bureau of Statistics, Seychelles

In 2022 Q3, the average number of employed persons for All sectors was 55,119 and average earnings were SCR 14,719. This represents an increase of 11.4% in employment numbers and 0.3% in average earnings compared to the same quarter in 2021. Compared to the second quarter of 2022, the overall average employment across All industries recorded an increase (5.0%), with the private sector recording the highest increase (8.6%). Employment in tourism related industries also recorded an increase of (18.3%). 

In December 2022, the “All items” annual (year on year) inflation rate stood at 2.53% compared to 7.85% in December 2021. The core inflation index rose by 0.66% over the same period. Month on month, the inflation rate in December 2022 was 0.02% compared to 0.11% in December 2021. The “All items” 12-monthly average inflation stood at 2.63% and the core inflation 1.40%. Increases were recorded in “Fish” (2.78%), “Other Food” (1.13%) and “Non-Food” (2.85%).

Merchandise Trade Statistics comprise of data on goods only for: Imports (cif) Domestic exports (fob) and Re-exports (fob) The source of data is bills of lading from Trades Tax / Customs records which provide data on quantities, values, country of origin and country of destination. Data are analysed in accordance with the general trade system as recommended by the United Nations. The headings in the current Seychelles’ tariff are based upon those of the Harmonized System [HS] Nomenclature. Tables are produced using both the SITC Rev3 and HS 2002 nomenclatures. Imports are valued cif (cost, insurance and freight) whilst exports and re-exports are valued fob (free on board), excluding international freight charges and insurance costs. Merchandise Trade Statistics are published on a quarterly and annual basis by country of origin, destination and value and quantity. The Central Bank of Seychelles compiles figures for the Balance of Payments using the merchandise trade data compiled by the Bureau.

Note: Base period = 2014 for data from 2014 to date. In quarter 2 of 2022 the ‘year on year’ real GDP recorded a growth (4.7%) compared to 2021 Q2. On a quarter on quarter comparison (2022 Q2 over  2022 Q1), real GDP decreased by 1.2%. This was driven mainly by a fall in the ‘Accommodation and food services’, ‘Professional, scientific and technical activities’, ‘Manufacture of fishery products’, ‘Information and communication’ and ‘Public Administration’. An analysis of GDP by expenditure shows that Final consumption expenditure of Households and NPISH and Government contributed 59% and 26% of GDP, respectively. The share of Gross Capital Formation was 31%, Exports 138% and Imports 154%.  

The Producer Price Index (PPI) and Industrial Production Index (IPI) are compiled on a monthly basis. The PPI measures changes in the price of products produced by the Seychelles manufacturing industry where as the IPI measures changes in the volumes of goods produced by manufacturers over time. The reference period for both indices is 2013=100. The PPI measures price movements and not actual price levels. It is important to note that the PPI measures price change from the producer perspective and not from the household perspective (which is measured in the Consumer Price Index). An important use of the PPI is as a deflator for National Accounts to produce GDP in volume measures. The IPI is also used as a key input for calculating volume measures as part of the compilation of the quarterly National Accounts. The commodities in the basket for both indices are classified according to the UN ISIC (International Standard Industrial Classification) Rev 4. Currently, the index coverage is limited to Section C Manufacturing and includes only those Divisions for which there is manufacturing activity in the Seychelles.

Comparison of production in Q1 2020 and Q1 2021

Production Statistics of Seychelles

Data cited at: https://seychelles.opendataforafrica.org/SEDS2016R1