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Trade and Regional Integration in Seychelles: FY2019/20

[Dataset] Trade and Regional Integration in Seychelles: FY2019/20

Trade and Regional Integration in Seychelles: FY2019/20
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  • Create Date 12 months ago
  • Last Updated Apr 22, 2020

[Dataset] Trade and Regional Integration in Seychelles: FY2019/20

Seychellois exports have been growing slower than imports during the period from 2015 to 2018. This has not led to a significant deterioration in gross official foreign exchange reserves supported by the persistent depreciation of the SCR. The slower growth in exports has led to a minor deterioration of Seychelles’ current account balance. Seychelles is still dependent on agriculture-based exports which are also amongst its top-traded goods with its neighbours in the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC). However, Seychelles is poorly integrated in both COMESA and SADC and its trade is unbalanced due to the persistent merchandise trade deficit in both regions. This suggests that there is significant room to increase Seychelles’ exports to both regions and Seychelles might want to rebalance its trade towards greater reliance on COMESA in order to reduce its overreliance on SADC.

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