Seychelles' Q2 GDP drops 17 percentChristian Fernsby ▼ | October 22, 2020
Data from the National Bureau of Statistics (NBS) shows that Seychelles' Gross Domestic Product (GDP) contracted 17.2 percent in the second quarter of 2020 compared to the same period a year earlier.
"The partial confinement period, as well as international travel and other restrictions, resulted in many businesses ceasing operations. This consequently led to a slowdown in economic activity," said Bistoquet.
The country's two economic pillars tourism and fisheries suffered an 82 percent and 39 percent drop respectively year over year.
Bistoquet said that this decline in growth was driven mainly by a contraction in key tourism related industries such as accommodation and food service activities, transportation and storage, administrative and support service activities, and education and construction. ■