The Seychelles ranked 176/197 by economy size with a GDP of $2.17B and 63/197 by GDP per capita at $17,859. The Seychelles has $1.25B in government debt, with a debt-to-GDP ratio of 59.3%.
In 2025, the Seychelles made up 0.002% of the world's economy, compared to 0.0009% in 1960.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1960 | $12,012,025 | $132,183,660 | - |
| 1961 | $11,592,024 | $125,730,088 | -3.5% |
| 1962 | $12,642,026 | $136,302,205 | 9.06% |
| 1963 | $13,923,029 | $150,117,255 | 10.1% |
| 1964 | $15,393,032 | $159,003,065 | 10.6% |
| 1965 | $15,603,032 | $157,316,725 | 1.36% |
| 1966 | $16,443,034 | $179,178,255 | 5.38% |
| 1967 | $16,632,032 | $180,082,639 | 1.15% |
| 1968 | $16,074,028 | $193,684,705 | -3.35% |
| 1969 | $16,452,028 | $193,684,705 | 2.35% |
| 1970 | $18,432,032 | $210,868,160 | 12% |
| 1971 | $21,965,951 | $244,294,508 | 19.2% |
| 1972 | $30,645,123 | $259,705,357 | 39.5% |
| 1973 | $36,896,280 | $283,219,564 | 20.4% |
| 1974 | $43,134,496 | $286,909,490 | 16.9% |
| 1975 | $47,803,146 | $296,025,766 | 10.8% |
| 1976 | $49,278,982 | $344,211,798 | 3.09% |
| 1977 | $64,526,401 | $322,904,307 | 30.9% |
| 1978 | $85,552,366 | $391,204,033 | 32.6% |
| 1979 | $127,261,099 | $452,992,130 | 48.8% |
| 1980 | $156,783,830 | $429,886,465 | 23.2% |
| 1981 | $163,750,728 | $413,220,699 | 4.44% |
| 1982 | $157,211,790 | $404,662,591 | -3.99% |
| 1983 | $156,098,237 | $402,168,917 | -0.71% |
| 1984 | $160,992,921 | $419,484,794 | 3.14% |
| 1985 | $179,691,483 | $462,665,475 | 11.6% |
| 1986 | $221,147,061 | $466,190,739 | 23.1% |
| 1987 | $265,212,957 | $488,915,451 | 19.9% |
| 1988 | $301,985,618 | $514,957,094 | 13.9% |
| 1989 | $324,333,367 | $567,923,802 | 7.4% |
| 1990 | $392,163,561 | $610,261,195 | 20.9% |
| 1991 | $398,307,170 | $627,107,005 | 1.57% |
| 1992 | $461,409,399 | $672,089,666 | 15.8% |
| 1993 | $504,230,621 | $721,174,866 | 9.28% |
| 1994 | $517,570,058 | $703,602,944 | 2.65% |
| 1995 | $540,733,048 | $707,015,677 | 4.48% |
| 1996 | $535,250,347 | $777,702,722 | -1.01% |
| 1997 | $598,966,982 | $872,533,006 | 11.9% |
| 1998 | $647,287,376 | $894,062,243 | 8.07% |
| 1999 | $662,838,615 | $910,799,133 | 2.4% |
| 2000 | $654,212,394 | $949,537,227 | -1.3% |
| 2001 | $662,064,156 | $927,971,690 | 1.2% |
| 2002 | $742,134,838 | $939,226,436 | 12.1% |
| 2003 | $750,847,230 | $883,932,969 | 1.17% |
| 2004 | $893,012,218 | $858,736,867 | 18.9% |
| 2005 | $977,899,382 | $936,072,663 | 9.51% |
| 2006 | $1,081,441,283 | $1,024,120,861 | 10.6% |
| 2007 | $1,077,308,814 | $1,115,022,509 | -0.38% |
| 2008 | $979,597,394 | $1,084,627,595 | -9.07% |
| 2009 | $850,901,620 | $1,057,735,599 | -13.1% |
| 2010 | $981,616,542 | $1,105,387,984 | 15.4% |
| 2011 | $1,058,918,707 | $1,210,507,987 | 7.87% |
| 2012 | $1,089,407,839 | $1,248,162,998 | 2.88% |
| 2013 | $1,333,160,407 | $1,263,811,654 | 22.4% |
| 2014 | $1,387,577,870 | $1,315,169,065 | 4.08% |
| 2015 | $1,432,403,352 | $1,432,403,352 | 3.23% |
| 2016 | $1,568,513,348 | $1,605,975,219 | 9.5% |
| 2017 | $1,675,370,641 | $1,717,657,340 | 6.81% |
| 2018 | $1,784,313,927 | $1,802,500,556 | 6.5% |
| 2019 | $1,868,690,097 | $1,901,895,701 | 4.73% |
| 2020 | $1,382,551,752 | $1,678,615,793 | -26% |
| 2021 | $1,487,173,795 | $1,687,886,479 | 7.57% |
| 2022 | $2,018,346,589 | $1,902,424,765 | 35.7% |
| 2023 | $2,187,379,755 | $1,945,405,358 | 8.37% |
| 2024 | $2,167,239,562 | $2,012,826,895 | -0.92% |
Economic Statistics of the Seychelles
Seychelles
|
Rank | |
|---|---|---|
| Gross domestic product |
$2.17B
2024 |
176/197 |
| GDP growth |
-0.92%
2023-2024 |
178/196 |
| GDP per capita |
$17,859
2024 |
63/197 |
| GDP per capita, PPP |
$33,239
2024 |
67/197 |
| Government debt |
$1.25B
2024 |
168/185 |
| Debt-to-GDP ratio |
59.3%
2025 |
85/185 |
| Government debt per person |
$10,323
2024 |
59/185 |
| Average annual personal income after taxes |
$9,988
2025 |
73/197 |
| Listed domestic companies |
23
2024 |
88/103 |
| Market capitalization of domestic companies |
$811M
2024 |
93/100 |
| Income share by richest 10% |
23.9%
2018 |
140/169 |
| Income share by poorest 10% |
2.6%
2018 |
104/169 |
| Government expenditure, % of GDP |
36%
2025 |
67/195 |
| Consumer prices inflation |
0.31%
2023-2024 |
183/195 |
| Central bank interest rate |
1.75%
2024 |
98/105 |
| Unemployment rate |
2.59%
2024 |
164/196 |
| Population |
125181
|
181/197 |
Seychelles' GDP per capita
The Seychelles has a GDP per capita of $17,859, ranking 63/197, a GDP per capita based on purchasing power parity (PPP) of $33,239, ranking 67/197, and a median annual after tax income of $9,988, ranking 73/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1960 | $288.1 | - |
| 1961 | $270.3 | - |
| 1962 | $287 | - |
| 1963 | $308 | - |
| 1964 | $332 | - |
| 1965 | $328 | - |
| 1966 | $338 | - |
| 1967 | $333 | - |
| 1968 | $314 | - |
| 1969 | $314 | - |
| 1970 | $344 | - |
| 1971 | $402 | - |
| 1972 | $547 | - |
| 1973 | $649 | - |
| 1974 | $745 | - |
| 1975 | $806 | - |
| 1976 | $814 | - |
| 1977 | $1,044 | - |
| 1978 | $1,377 | - |
| 1979 | $2,030 | - |
| 1980 | $2,478 | - |
| 1981 | $2,557 | - |
| 1982 | $2,441 | - |
| 1983 | $2,426 | - |
| 1984 | $2,488 | - |
| 1985 | $2,754 | - |
| 1986 | $3,368 | - |
| 1987 | $3,872 | - |
| 1988 | $4,392 | - |
| 1989 | $4,689 | - |
| 1990 | $5,642 | $8,955 |
| 1991 | $5,655 | $9,387 |
| 1992 | $6,520 | $10,243 |
| 1993 | $6,979 | $11,020 |
| 1994 | $6,975 | $10,692 |
| 1995 | $7,181 | $10,809 |
| 1996 | $7,004 | $11,931 |
| 1997 | $7,747 | $13,458 |
| 1998 | $8,210 | $13,675 |
| 1999 | $8,243 | $13,853 |
| 2000 | $8,064 | $14,638 |
| 2001 | $8,153 | $14,615 |
| 2002 | $8,864 | $14,570 |
| 2003 | $9,070 | $14,142 |
| 2004 | $10,828 | $14,160 |
| 2005 | $11,802 | $15,846 |
| 2006 | $12,783 | $17,503 |
| 2007 | $12,669 | $19,473 |
| 2008 | $11,265 | $18,881 |
| 2009 | $9,747 | $18,453 |
| 2010 | $10,935 | $18,982 |
| 2011 | $12,110 | $21,781 |
| 2012 | $12,337 | $22,264 |
| 2013 | $14,821 | $22,487 |
| 2014 | $15,188 | $24,985 |
| 2015 | $15,333 | $25,435 |
| 2016 | $16,567 | $28,811 |
| 2017 | $17,480 | $30,675 |
| 2018 | $18,440 | $32,091 |
| 2019 | $19,142 | $34,219 |
| 2020 | $14,041 | $31,056 |
| 2021 | $14,983 | $29,980 |
| 2022 | $16,837 | $29,973 |
| 2023 | $18,263 | $31,781 |
| 2024 | $17,859 | $33,239 |
Seychelles' government spending, deficit, and chart
This chart shows the Seychelles' government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 43 years, the Seychelles recorded a fiscal deficit in 24 years — average annual deficit equal to -2.04% of GDP. In 2024, government spending reached $739M (36% of GDP), with a deficit of -1.19%.
The national debt reached $1.25B, ranking 168th out of 185 countries by total size, with a debt-to-GDP ratio of 59.3%, ranking 85th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1983 | 47.9% | 12.4% | -3.13% |
| 1984 | 50.5% | 15.3% | -6.09% |
| 1985 | 53% | 26.5% | -4.86% |
| 1986 | 58% | 31.5% | -10.1% |
| 1987 | 49.7% | 37% | 2.77% |
| 1988 | 46.7% | 41.3% | 11.8% |
| 1989 | 51.7% | 39.9% | 8.26% |
| 1990 | 46.1% | 80.4% | 11.9% |
| 1991 | 52.1% | 89.2% | 3.15% |
| 1992 | 50.7% | 79.9% | 6.44% |
| 1993 | 60.4% | 82.2% | -3.62% |
| 1994 | 63.6% | 123.5% | -6.95% |
| 1995 | 53.1% | 133.5% | -2.58% |
| 1996 | 59.1% | 146.7% | -9.69% |
| 1997 | 54.7% | 143% | -5.91% |
| 1998 | 60.7% | 161.2% | -16.7% |
| 1999 | 56.1% | 159.8% | -10.3% |
| 2000 | 55.4% | 177.8% | -14.7% |
| 2001 | 46.8% | 199.8% | -8.93% |
| 2002 | 56.3% | 195.9% | -16.3% |
| 2003 | 44.6% | 177% | 3.4% |
| 2004 | 39.9% | 163.2% | 0.44% |
| 2005 | 39% | 144.1% | 0.42% |
| 2006 | 43.6% | 135.1% | -2.54% |
| 2007 | 41.9% | 144% | -9.93% |
| 2008 | 27% | 192.1% | 7.88% |
| 2009 | 32.1% | 106.1% | 4.84% |
| 2010 | 34.6% | 82.2% | 0.52% |
| 2011 | 36.4% | 82.5% | 3.36% |
| 2012 | 38.6% | 80.1% | 2.93% |
| 2013 | 37.8% | 68.2% | 0.33% |
| 2014 | 33.4% | 70.4% | 2.87% |
| 2015 | 31.5% | 64.7% | 1.39% |
| 2016 | 34.5% | 62.8% | 0.02% |
| 2017 | 34.3% | 56.7% | -1.67% |
| 2018 | 33% | 51.3% | -0.8% |
| 2019 | 31.7% | 48.9% | 0.42% |
| 2020 | 46.7% | 77.4% | -15.7% |
| 2021 | 38.8% | 71.2% | -5.76% |
| 2022 | 31.3% | 60% | -0.76% |
| 2023 | 32.9% | 55.3% | -1.14% |
| 2024 | 34.1% | 57.8% | -1.47% |
| 2025 | 36% | 59.3% | -1.19% |
Inflation rate by year
Over the past 20 years, the Seychelles has had an average annual inflation rate of 5.59%. In 2024, inflation was 0.31%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1971 | 14.6% |
| 1972 | 20.9% |
| 1973 | 18.2% |
| 1974 | 24.4% |
| 1975 | 18.6% |
| 1976 | 14.9% |
| 1977 | 15% |
| 1978 | 11.8% |
| 1979 | 12.5% |
| 1980 | 13.6% |
| 1981 | 10.6% |
| 1982 | -0.91% |
| 1983 | 6.05% |
| 1984 | 4.09% |
| 1985 | 0.83% |
| 1986 | 0.24% |
| 1987 | 2.59% |
| 1988 | 1.84% |
| 1989 | 1.58% |
| 1990 | 3.89% |
| 1991 | 1.99% |
| 1992 | 3.25% |
| 1993 | 1.38% |
| 1994 | 1.74% |
| 1995 | -0.24% |
| 1996 | -1.1% |
| 1997 | 0.62% |
| 1998 | 2.58% |
| 1999 | 6.35% |
| 2000 | 6.27% |
| 2001 | 5.97% |
| 2002 | 0.18% |
| 2003 | 3.3% |
| 2004 | 3.86% |
| 2005 | 0.91% |
| 2006 | -0.35% |
| 2007 | 5.32% |
| 2008 | 37% |
| 2009 | 31.8% |
| 2010 | -2.4% |
| 2011 | 2.56% |
| 2012 | 7.11% |
| 2013 | 4.34% |
| 2014 | 1.39% |
| 2015 | 4.04% |
| 2016 | -1.02% |
| 2017 | 2.86% |
| 2018 | 3.7% |
| 2019 | 1.81% |
| 2020 | 1.2% |
| 2021 | 9.77% |
| 2022 | 2.63% |
| 2023 | -1.04% |
| 2024 | 0.31% |
Balance of trade
|
Seychelles
|
Rank | |
|---|---|---|
Current account balance
|
-$155M
2023 |
90/189 |
| Current account balance, % of GDP |
-7.09%
2023 |
147/189 |
| Goods imports |
$1.43B
2023 |
160/188 |
| Goods exports |
$542M
2023 |
157/188 |
| Service imports |
$1.01B
2023 |
144/188 |
| Service exports |
$1.83B
2023 |
110/188 |
| Imports of goods and services, % of GDP |
103.2%
2024 |
9/180 |
| Exports of goods and services, % of GDP |
85.2%
2024 |
12/193 |
The Seychelles' top 10 trading partners
The Seychelles' biggest trading partner accounting for 38.7%% of all exports and imports is the United Arab Emirates, with a trade balance between the two of -$253M — the Seychelles exports $278M worth of goods and services to the United Arab Emirates and imports $531M.
Below is the list of the top 10 trade partners of the Seychelles.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
UAE
|
$809M | 38.7% | $278M | $531M | Raw materials & minerals | Raw materials & minerals |
| 2 |
France
|
$213M | 10.2% | $97.4M | $116M | Processed food, beverages & tobacco | Animal & marine products |
| 3 |
United Kingdom
|
$127M | 6.05% | $79.3M | $47.2M | Processed food, beverages & tobacco | Machinery & equipment |
| 4 |
Spain
|
$104M | 4.97% | $1.75M | $102M | Animal & marine products | Animal & marine products |
| 5 |
India
|
$97.5M | 4.67% | $2.69M | $94.8M | Metals | Machinery & equipment |
| 6 |
South Africa
|
$92.4M | 4.42% | $188K | $92.2M | Machinery & equipment | Machinery & equipment |
| 7 |
China
|
$74.5M | 3.56% | $34K | $74.4M | Machinery & equipment | Machinery & equipment |
| 8 |
Italy
|
$73.4M | 3.51% | $49.2M | $24.2M | Processed food, beverages & tobacco | Machinery & equipment |
| 9 |
Thailand
|
$42.7M | 2.04% | $2.92M | $39.7M | Processed food, beverages & tobacco | Metals |
| 10 |
Mauritius
|
$40.1M | 1.92% | $2.24M | $37.9M | Animal & marine products | Machinery & equipment |
Seychelles' top 10 exports
|
Seychelles
|
Rank | |
|---|---|---|
| Transport & tourism services | $1.1B | 114/188 |
| Business & finance services | $540M | 90/188 |
| Processed food, beverages & tobacco | $288M | 112/192 |
| Raw materials & minerals | $218M | 140/193 |
| Metals | $51.6M | 131/192 |
| Animal & marine products | $25.7M | 134/192 |
| Government & miscellaneous services | $16.1M | 129/180 |
| IT & IP services | $11.5M | 152/183 |
| Machinery & equipment | $8.48M | 168/193 |
| Raw agricultural goods | $1.02M | 178/193 |
Seychelles' top 10 imports
|
Seychelles
|
Rank | |
|---|---|---|
| Business & finance services | $658M | 102/188 |
| Machinery & equipment | $343M | 163/193 |
| Raw materials & minerals | $338M | 158/193 |
| Transport & tourism services | $333M | 152/188 |
| Animal & marine products | $193M | 116/193 |
| Processed food, beverages & tobacco | $135M | 167/193 |
| Chemicals & pharma | $129M | 164/193 |
| Textiles & consumer goods | $112M | 159/193 |
| Metals | $107M | 155/193 |
| Wood & paper products | $71.6M | 147/193 |
Economic freedom indices
|
Seychelles
|
Rank | |
|---|---|---|
| Economic freedom | 66.4 | 58/197 |
| Property rights | 74 | 45/182 |
| Government integrity | 75 | 45/182 |
| Judicial effectiveness | 63.7 | 45/182 |
| Tax burden | 79.7 | 86/181 |
| Government spending | 64.6 | 116/180 |
| Fiscal health | 83.2 | 61/181 |
| Business freedom | 78.8 | 38/182 |
| Labor freedom | 56.5 | 101/182 |
| Monetary freedom | 75.6 | 34/180 |
| Trade freedom | 85.2 | 10/181 |
| Investment freedom | 30 | 156/181 |
| Financial freedom | 30 | 148/181 |
Seychelles' economic freedom by year
The Seychelles is ranked 52/180 for economic freedom with a score of 66.4, compared to 155/178 and a score of 47.8 in 2009.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 2009 | 47.8 | - | 73.8 | 0 | - |
| 2010 | 47.9 | - | 76.4 | 9.3 | - |
| 2011 | 51.2 | - | 77.7 | 52.5 | - |
| 2012 | 53 | - | 76 | 59.6 | - |
| 2013 | 54.9 | - | 77.6 | 56.9 | - |
| 2014 | 56.2 | - | 76.8 | 61.8 | - |
| 2015 | 57.5 | - | 79.8 | 59.4 | - |
| 2016 | 62.2 | - | 79.3 | 62 | - |
| 2017 | 61.8 | 42.6 | 78.8 | 63.9 | 90.7 |
| 2018 | 61.6 | 38.8 | 73.4 | 63 | 90.6 |
| 2019 | 61.4 | 37.5 | 76.3 | 60.3 | 92 |
| 2020 | 64.3 | 46.4 | 76.8 | 58.9 | 93.2 |
| 2021 | 66.3 | 51.6 | 76.9 | 60.9 | 93.2 |
| 2022 | 61.1 | 62.4 | 76.4 | 42.5 | 36.7 |
| 2023 | 59.5 | 71.5 | 75.1 | 47.8 | 9.4 |
| 2024 | 60.4 | 65.2 | 79.1 | 54.6 | 12.4 |
| 2025 | 66.4 | 63.7 | 79.7 | 64.6 | 83.2 |
More economic indicators
|
Seychelles
|
Rank | |
|---|---|---|
| Services, % of GDP |
65.8%
2024 |
38/191 |
| Industry, % of GDP |
12.3%
2024 |
170/194 |
| Agriculture, forestry, and fishing, % of GDP |
2.45%
2024 |
142/193 |
|
GNI, Atlas method
|
$2.12B
2024 |
175/194 |
| GNI per capita, PPP |
$32,180
2024 |
64/191 |
| Total reserves including gold |
$774M
2024 |
146/177 |
|
Net foreign direct investment
|
-$279M
2023 |
90/188 |
|
Net inflows of foreign direct investment
|
$299M
2024 |
127/193 |
|
Net outflows of foreign direct investment
|
$46.1M
2024 |
104/187 |
| Poverty at national poverty lines |
25.3%
2018 |
72/176 |
|
Gross capital formation, % of GDP
|
17.2%
2024 |
146/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
Seychelles topic pages:
Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.