In a bulletin issued from the St Helena Statistics Office today, new estimates of the St Helena Gross Domestic Product (GDP), the total value of all the goods and services produced on St Helena during a year, for 2017/18 was Pound 42.4 million or Pound 9,220 per person. When price inflation is taken into account, this is a slight fall of 1.7% from 2016/17.
When converted to US dollars using standard exchange rates, GDP per capita was around $12,230 in 2017/18. Other countries with similar levels of GDP per capita include Croatia, Palau, Costa Rica, and American Samoa.
Government Services contributed the most to St Helena's GDP, at Pound 18.5 million, or 50% of total Gross Value Added. Wholesale and Retail Trade (including Motor Vehicle Repair and Transport) is the second largest sector, contributing around 19% of total Gross Value Added, and Agriculture, Forestry and Fishing is the smallest.
The bulletin shows that the economy grew strongly in 2015/16 by 5.1%, when airport construction was still underway, but it shrank the following year (2016/17) by 7.1% following completion of the majority of the airport construction.
Source: St Helena Government