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%). source: National Bureau of Statistics, Seychelles

GDP Annual Growth Rate in Seychelles averaged 2.89 percent from 2000 until 2020, reaching an all time high of 13.90 percent in the first quarter of 2007 and a record low of -19.80 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 - values, historical data and charts - was last updated on May of 2021.

GDP Annual Growth Rate in Seychelles is expected to be 6.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Seychelles to stand at 5.30 in 12 months time. In the long-term, the Seychelles GDP Annual Growth Rate is projected to trend around 5.80 percent in 2022 and 5.40 percent in 2023, according to our econometric models.

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Seychelles GDP Annual Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-15.20 -18.50 13.90 -19.80 2000 - 2020 percent Quarterly

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.