Economy of Saint Helena Island

Quoted at constant 2002 prices, GDP fell from £12 million in 1999/2000 to £11 million in 2005/6. Imports are mainly from the UK and South Africa and amounted to £6.4 million in 2004/5 (quoted on an FOB basis). Exports are much smaller, amounting to £0.2 million in 2004/5. Exports mainly comprise of fish and coffee; Philatelic sales were £0.06 million in 04/05. The limited number of visiting tourists spent about £0.4 million in 2004/05, representing a contribution to GDP of 3%.

Public expenditure rose from £10 million in 2001/02 to £12 million in 2005/06. The contribution of UK budgetary aid to total SHG government expenditure rose from £4.6 million in to £6.4 million over the same period. Wages and salaries represent about 38% of recurrent expenditure.

Unemployment levels are low (50 in 2004 compared with 342 in 1998). Employment is dominated by the public sector, the number of government positions only