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Balance of Payments and International FDI Position in the Seychelles: FY2019/20
Seychellois merchandise export earnings have been growing consistently since 2016. The slower export earnings have not been sufficient to deteriorate the Seychelles’ current account balance. The balance of payments has deteriorated but gross official reserves have increased slightly due to the persistent capital and financial account surplus due to the persistent inward foreign direct investment (FDI) inflows. These capital flows have improved the Seychelles’ balance of payments but deteriorated the country’s net international FDI position. Nonetheless, Seychelles’ balance of payments is projected to improve to a wider surplus, which is projected to support growth of gross official reserves in the medium-term.