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The economy depends largely on financial assistance from the UK, which amounted to about $5 million in 1998. The local population earns income from fishing, the raising of livestock, and sales of handicrafts. Because there are few jobs, a large proportion of the work force has left to seek employment overseas.
A campaign is currently underway (reported on BBC radio 4, Today programme, 10th July 2004) to encourage emigration from the UK to Saint Helena to aid development of the economy. There is also some lobbying for an airport.
GDP: purchasing power parity - $13.9 million (FY94/95 est.)
GDP - real growth rate: NA%
GDP - per capita: purchasing power parity - $2,000 (FY94/95 est.)
GDP - composition by sector:
agriculture:
NA%
industry:
NA%
services:
NA%
Population below poverty line: NA%
Household income or consumption by percentage share:
lowest 10%:
NA%
highest 10%:
NA%
Inflation rate (consumer prices): NA%
Labor force:
2,416 (1991 est.)
note:
a large proportion of the work force has left to seek employment overseas
Labor force - by occupation: farmers and fishermen 6%, industry (mainly construction) 48%, services 46% (1987 est.)
Unemployment rate: 18% (1996)
Budget:
revenues:
$11.2 million
expenditures:
$11 million, including capital expenditures of $NA (FY92/93)
Industries: construction, crafts (furniture, lacework, fancy woodwork), fishing
Industrial production growth rate: NA%
Electricity - production: 6 GWh (1998)
Electricity - production by source:
fossil fuel:
100%
hydro:
0%
nuclear:
0%
other:
0% (1998)
Electricity - consumption: 6 GWh (1998)
Electricity - exports: 0 kWh (1998)
Electricity - imports: 0 kWh (1998)
Agriculture - products:
maize, potatoes, vegetables; timberTimber is a term used to describe clusters of trees. It is also used to describe wood throughout its processing from the time it is cut down to the time it is used as a structural material. The word timber is also used as an exclamation when a tree falls.; fishAtlantic herring, Clupea harengus one of the most abundant species in the world Photo A fish is a poikilothermic (cold-blooded) water-dwelling vertebrate with gills. There are over 27,000 species of fish, making them the most diverse group of vertebrates., crawfish (on Tristan da Cunha)Exports: $704,000 (f.o.b., 1995)
Exports - commodities: fish (frozen, canned, and salt-dried skipjack , tunaThunnus alalunga Thunnus albacares Thunnus atlanticus Thunnus maccoyii Thunnus obesus Thunnus orientalis Thunnus thynnus Thunnus tonggol Tuna are several species of ocean-dwelling fish in the family Scombridae, mostly in the genus Thunnus . Tuna are fast), coffeeThis article discusses the coffee plant; for information on the beverage see coffee (drink). Coffea arabica Arabian Coffee Coffea benghalensis Bengal Coffee Coffea canephora Robusta Coffee Coffea congensis Congo Coffee Coffea liberica Liberian Coffee Coff, handicrafts
Exports - partners:
South AfricaSouth Africa is a republic at the southern tip of Africa. It is bordered to the north by Namibia, Botswana and Zimbabwe, to the north-east by Mozambique and Swaziland. Lesotho is contained entirely inside the borders of South Africa. South Africa is one o, UKImports: $14.434 million (c.i.f., 1995)
Imports - commodities: food, beverages, tobaccoacuminata N. alata N. attenuata N. bigelovil N. clevelandii N. debneyi N. excelsior N. exigua N. forgetiana N. glutinosa N. kawakamii N. knightiana N. langsdorffii N. longiflora N. obtusifolia N. otephora N. paniculata N. plumbagifolia N. quadrivalvis N., fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts
Imports - partners: UK, South Africa
Debt - external: $NA
Economic aid - recipient: $12.6 million (1995); note - $5.3 million from UK (1997)
Currency: 1 Saint Helenian pound = 100 pence
Exchange rates: Saint Helenian pounds per US$1 - 0.6092 (January 2000), 0.6180 (1999), 0.6037 (1998), 0.6047 (1997), 0.6403 (1996), 0.6335 (1995); note - the Saint Helenian pound is at par with the British pound
Fiscal year: 1 April - 31 March