SEYCHELLES

Economy

Introduction  |   Health  |   Education and Training  |   Economic Performance  |   The fisheries sector  |   Tourism
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Agriculture and niche natural domestic products  |   Trade

Since the Seychelles comprises a widely scattered group of islands in the western Indian Ocean, one of the few absolute economic advantages that it enjoys is the very large EEZ. Its scatter of islands provides a total of 1.4 million square kilometers, of which approximately 50 thousand square kilometers is continental shelf.

Tuna is presently by far the most important of these marine resources. In effect, the Seychelles is situated in the centre of the most important zone of surface tuna fishing in the Indian Ocean. The majority of the tuna vessels are foreign-flagged and owned; though do provide employment for a limited number of Seychellois. Artisanal fishing has traditionally been an activity, especially since it provides employment for a significant number of local fishermen. The catch from artisanal fishing is destined principally for the domestic market, although its contribution to exports has increased in recent years (In 1997, for instance, 963 tonnes of fresh/frozen fish worth SR 20.4 million were exported).

Domestic exports of main commodities are overwhelmingly dominated by fish and fish products. In 2002, processed fish exported amounted to SR 891m in value. Of this total, by far the major element was canned tuna, with a value of SR 844 m. The rest of the processed fish total came from tuna loins, whose value was SR 47m. Fresh and frozen fish amounted to SR 18m. Fishmeal - a by-product of the tuna cannery - totalled SR 31m exported value. Prawns were exported to the value of nearly SR 8m

NEWS OF THE MINISTRY

Seychelles Minister of Foreign Affairs leads delegation at the Golden Spear Regional Disaster Preparedness Initiative held in Djibouti from the 5th to 8th November 2007 Minister Patrick Pillay was leading a delegation of two government officials from the Ministry of Foreign Affairs and the Department of Risk and Disaster Management.,
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