The economy of Seychelles rose by 1.5% year-on-year in Q2, following a revised 7.4% contraction in the previous three-period. This marks the first economic expansion after three consecutive quarters of decline, indicating the end of the technical recession. Significant growth was observed in several sectors, including administrative and support services (+133% vs -33% in Q1), information and communication (+45% vs +53%), agriculture (+47%vs +26%), and finance and insurance (+11% vs +12%). However, output declined sharply in other areas, including real estate (-36%), other manufacturing (-35%), professional, scientific, and technical services (-21%); accommodation and food services (-19%) and fishing (-15%). On a quarterly basis, the GDP shrank by 1.5% in Q2. source: National Bureau of Statistics, Seychelles

The Gross Domestic Product (GDP) in Seychelles expanded 1.50 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Seychelles averaged 4.05 percent from 2000 until 2024, reaching an all time high of 30.10 percent in the first quarter of 2022 and a record low of -24.00 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2024.

The Gross Domestic Product (GDP) in Seychelles expanded 1.50 percent in the second quarter of 2024 over the same quarter of the previous year. GDP Annual Growth Rate in Seychelles is expected to be 3.10 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Seychelles GDP Annual Growth Rate is projected to trend around 3.80 percent in 2025 and 3.50 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-06-28 02:10 PM
GDP Growth Rate YoY
Q1 -5.8% -5.6% -1.8%
2024-09-30 11:45 AM
GDP Growth Rate YoY
Q2 1.5% -7% -5.2%
2024-12-31 10:00 AM
GDP Growth Rate YoY
Q3 1.5% 2.3%


Related Last Previous Unit Reference
GDP Growth Rate YoY 1.50 -7.40 percent Jun 2024
GDP Constant Prices 6400.00 6499.00 SCR Million Jun 2024
GDP from Agriculture 200.00 184.00 SCR Million Jun 2024
GDP from Construction 293.00 316.00 SCR Million Jun 2024
GDP from Public Administration 610.00 720.00 SCR Million Jun 2024
GDP from Transport 213.00 195.00 SCR Million Jun 2024
GDP from Utilities 147.00 149.00 SCR Million Jun 2024

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.
Actual Previous Highest Lowest Dates Unit Frequency
1.50 -7.40 30.10 -24.00 2000 - 2024 percent Quarterly
Constant Prices 2014, NSA


News Stream
Seychelles Economy Resumes Growth After Recession
The economy of Seychelles rose by 1.5% year-on-year in Q2, following a revised 7.4% contraction in the previous three-period. This marks the first economic expansion after three consecutive quarters of decline, indicating the end of the technical recession. Significant growth was observed in several sectors, including administrative and support services (+133% vs -33% in Q1), information and communication (+45% vs +53%), agriculture (+47%vs +26%), and finance and insurance (+11% vs +12%). However, output declined sharply in other areas, including real estate (-36%), other manufacturing (-35%), professional, scientific, and technical services (-21%); accommodation and food services (-19%) and fishing (-15%). On a quarterly basis, the GDP shrank by 1.5% in Q2.
2024-09-30
Seychelles Economy Enters Recession in Q4
The economy of Seychelles fell by 3.2% year-on-year in the fourth quarter of 2023, following a downwardly revised 7% contraction in the previous three-period. This marks the second consecutive quarter of decline, signaling the onset of a technical recession, with steep decreases recorded in several activities such as real estate (-60% vs -68% in Q3); education (-58% vs -56%); public administration (-38% vs -28%); administrative and support service (-24% vs -36%); accommodation and food services (-11% vs -15%); transportation & storage (-10% vs 1%) and fishing (-10% vs 21%). Additionally, all sub-sectors of manufacturing experienced declines. On the other hand, strong growth was seen in construction (71% vs -12%); information & communication (53% vs 52%) and agriculture (33% vs 32%). On a quarterly basis, the real GDP grew by 8.8% in Q4, after a downwardly revised 4.6% slump in the previous quarter.
2024-04-02
Seychelles Economy Contracts in Q3
The economy of Seychelles shrank by 12% year-on-year in the third quarter of 2023, a stark shift from the revised 1% growth recorded in the prior three-month period. It marks the most severe GDP contraction since the first quarter of 2021, primarily propelled by declines in manufacturing, construction, wholesale and retail trade, accommodation and food services activities, and real estate, among other sectors. On a quarterly basis, the economy contracted by 8.5% in the third quarter, following an 8.3% fall in the previous period.
2023-12-29