Exporting to Seychelles

Seychelles is a chain of islands off the west coast of Africa and has a population of just under 100,000 people (IMF, 2019). Seychelles has seen consistent GDP growth over the past few years which is expected to continue (IMF, 2019). Furthermore, it has very low unemployment, with a rate of 3.0% in 2018, which helps the spending power of the consumers (IMF, 2019).

Growing UK export market

In the year ended June 2019, the total UK exports to the Seychelles amounted to £88 million (ONS, 2019). This was a significant increase of 95.6% compared to the previous year (ONS, 2019). This shows an increase in demand for UK products and services which UK businesses could benefit from.

Demand for goods and services

In the year to June 2019, the top goods exported from the UK to the Seychelles were crude oil, ships, metal manufactures, electrical goods and medicinal and pharmaceutical products (ONS, 2019). In terms of services, the top services imported by the Seychelles from the world were business services, transport, travel, insurance and pension services and financial services (ITC Trade Map, 2019). Therefore, if you operate in any of these industries, Seychelles could be a good market for you.

Ease of doing business

96th

out of 190 countries (World Bank, 2018)

Currency

Seychelles Rupee

Currency

Seychelles Creole, English

You may need a translator

GDP per capita

$16,575

UK is $42,558 (IMF, 2018)

Economic growth

4.1%

(IMF, 2018)

Time zone

GMT +4

Next steps

DIT can advise you on doing business abroad, and help put you in touch with other people who can help such as lawyers and distributors.