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Economy Stats: compare key data on Saint Helena & United Kingdom

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Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Currency: The national medium of exchange and its basic sub-unit.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exports: This entry provides the total US dollar amount of merchandise exports on an f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Exports > Commodities: This entry provides a listing of the highest-valued exported products; it sometimes includes the percent of total dollar value.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • GDP > Per capita > PPP: This entry shows GDP on a purchasing power parity basis divided by population as of 1 July for the same year.
  • GDP > Purchasing power parity: This entry gives the gross domestic product (GDP) or value of all final goods and services produced within a nation in a given year. A nation's GDP at purchasing power parity (PPP) exchange rates is the sum value of all goods and services produced in the country valued at prices prevailing in the United States. This is the measure most economists prefer when looking at per-capita welfare and when comparing living conditions or use of resources across countries. The measure is difficult to compute, as a US dollar value has to be assigned to all goods and services in the country regardless of whether these goods and services have a direct equivalent in the United States (for example, the value of an ox-cart or non-US military equipment); as a result, PPP estimates for some countries are based on a small and sometimes different set of goods and services. In addition, many countries do not formally participate in the World Bank's PPP project that calculates these measures, so the resulting GDP estimates for these countries may lack precision. For many developing countries, PPP-based GDP measures are multiples of the official exchange rate (OER) measure. The difference between the OER- and PPP-denominated GDP values for most of the weathly industrialized countries are generally much smaller.
  • Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Inflation rate > Consumer prices: This entry furnishes the annual percent change in consumer prices compared with the previous year's consumer prices.
  • Labor force: This entry contains the total labor force figure.
  • Unemployment rate: This entry contains the percent of the labor force that is without jobs. Substantial underemployment might be noted.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Labor force > By occupation > Agriculture: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
    Additional details:
    • Gibraltar: negligible (2013)
  • Labor force > By occupation > Services: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Trade > Imports: This entry provides the total US dollar amount of merchandise imports on a c.i.f. (cost, insurance, and freight) or f.o.b. (free on board) basis. These figures are calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms.
  • Oil > Exports: This entry is the total oil exported in barrels per day (bbl/day), including both crude oil and oil products.
    Additional details:
    • Bahamas, The: transshipments of 41,570 bbl/day (2007)
    • Bahamas, The: transshipments of 41,610 bbl/day (2009)
  • Oil > Production: This entry is the total oil produced in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
  • Trade > Exports: The total US dollar amount of exports on an f.o.b. (free on board) basis.
  • Imports > Commodities: This entry provides a listing of the highest-valued imported products; it sometimes includes the percent of total dollar value.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Oil > Proved reserves: This entry is the stock of proved reserves of crude oil in barrels (bbl). Proved reserves are those quantities of petroleum which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
  • Natural gas > Production: This entry is the total natural gas produced in cubic meters (cu m). The discrepancy between the amount of natural gas produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes and other complicating factors.
  • Oil > Consumption: This entry is the total oil consumed in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors.
  • Electricity > Consumption: This entry consists of total electricity generated annually plus imports and minus exports, expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.
  • Oil > Consumption per thousand people: This entry is the total oil consumed in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors. Figures expressed per thousand people for the same year.
  • Labor force > By occupation > Industry: This entry is derived from Economy > Labor force > By occupation, which lists the percentage distribution of the labor force by sector of occupation. Agriculture includes farming, fishing, and forestry. Industry includes mining, manufacturing, energy production, and construction. Services cover government activities, communications, transportation, finance, and all other economic activities that do not produce material goods. The distribution will total less than 100 percent if the data are incomplete and may range from 99-101 percent due to rounding.
  • Electricity > Production: This entry is the annual electricity generated expressed in kilowatt-hours. The discrepancy between the amount of electricity generated and/or imported and the amount consumed and/or exported is accounted for as loss in transmission and distribution.
  • Oil > Production per thousand people: This entry is the total oil produced in barrels per day (bbl/day). The discrepancy between the amount of oil produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes, refinery gains, and other complicating factors. Figures expressed per thousand people for the same year.
  • Oil > Imports: This entry is the total oil imported in barrels per day (bbl/day), including both crude oil and oil products.
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
  • Natural gas > Proved reserves per capita: This entry is the stock of proved reserves of natural gas in cubic meters (cu m). Proved reserves are those quantities of natural gas, which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions. Figures expressed per capita for the same year.
  • Natural gas > Proved reserves: This entry is the stock of proved reserves of natural gas in cubic meters (cu m). Proved reserves are those quantities of natural gas, which, by analysis of geological and engineering data, can be estimated with a high degree of confidence to be commercially recoverable from a given date forward, from known reservoirs and under current economic conditions.
  • Natural gas > Consumption: This entry is the total natural gas consumed in cubic meters (cu m). The discrepancy between the amount of natural gas produced and/or imported and the amount consumed and/or exported is due to the omission of stock changes and other complicating factors.
STAT Saint Helena United Kingdom HISTORY
Agriculture > Products coffee, corn, potatoes, vegetables; timber; fish, lobster; livestock cereals, oilseed, potatoes, vegetables; cattle, sheep, poultry; fish
Budget > Expenditures $25.14 million
Ranked 23th.
$1.19 trillion
Ranked 6th. 47176 times more than Saint Helena

Budget > Revenues $10.23 million
Ranked 217th.
$986.10 billion
Ranked 6th. 96393 times more than Saint Helena

Currency Saint Helenian pound British pound
Overview The economy depends largely on financial assistance from the UK, which amounted to about $27 million in FY06/07 or more than twice the level of annual budgetary revenues. The local population earns income from fishing, raising livestock, and sales of handicrafts. Because there are few jobs, 25% of the work force has left to seek employment on Ascension Island, on the Falklands, and in the UK. The UK, a leading trading power and financial center, is the second largest economy in Europe after Germany. Over the past two decades, the government has greatly reduced public ownership and contained the growth of social welfare programs. Agriculture is intensive, highly mechanized, and efficient by European standards, producing about 60% of food needs with less than 2% of the labor force. The UK has large coal, natural gas, and oil resources, but its oil and natural gas reserves are declining and the UK became a net importer of energy in 2005. Services, particularly banking, insurance, and business services, account by far for the largest proportion of GDP while industry continues to decline in importance. After emerging from recession in 1992, Britain's economy enjoyed the longest period of expansion on record during which time growth outpaced most of Western Europe. In 2008, however, the global financial crisis hit the economy particularly hard, due to the importance of its financial sector. Sharply declining home prices, high consumer debt, and the global economic slowdown compounded Britain's economic problems, pushing the economy into recession in the latter half of 2008 and prompting the then BROWN (Labour) government to implement a number of measures to stimulate the economy and stabilize the financial markets; these include nationalizing parts of the banking system, temporarily cutting taxes, suspending public sector borrowing rules, and moving forward public spending on capital projects. Facing burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition government (between Conservatives and Liberal Democrats) initiated a five-year austerity program, which aimed to lower London's budget deficit from over 10% of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the Exchequer George OSBORNE announced additional austerity measures through 2017 because of slower-than-expected economic growth and the impact of the euro-zone debt crisis. The CAMERON government raised the value added tax from 17.5% to 20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014. The Bank of England (BoE) implemented an asset purchase program of up to £375 billion (approximately $605 billion) as of December 2012. During times of economic crisis, the BoE coordinates interest rate moves with the European Central Bank, but Britain remains outside the European Economic and Monetary Union (EMU). In 2012, weak consumer spending and subdued business investment weighed on the economy. GDP fell 0.1%, and the budget deficit remained stubbornly high at 7.7% of GDP. Public debt continued to increase.
Exports $19.00 million
Ranked 7th.
$473.00 billion
Ranked 10th. 24895 times more than Saint Helena

Exports > Commodities fish (frozen, canned, and salt-dried skipjack, tuna), coffee, handicrafts manufactured goods, fuels, chemicals; food, beverages, tobacco
Fiscal year 1 April - 31 March 6
GDP > Per capita > PPP $2,500.00
Ranked 1st.
$36,600.00
Ranked 21st. 15 times more than Saint Helena

GDP > Purchasing power parity $18.00 million
Ranked 1st.
$2.31 trillion
Ranked 8th. 128500 times more than Saint Helena

Imports $45.00 million
Ranked 13th.
$643.50 billion
Ranked 5th. 14300 times more than Saint Helena

Industries construction, crafts (furniture, lacework, fancy woodwork), fishing, philatelic sales machine tools, electric power equipment, automation equipment, railroad equipment, shipbuilding, aircraft, motor vehicles and parts, electronics and communications equipment, metals, chemicals, coal, petroleum, paper and paper products, food processing, textiles, clothing, other consumer goods
Inflation rate > Consumer prices 3.2%
Ranked 1st. 14% more than United Kingdom
2.8%
Ranked 126th.

Labor force 2
Ranked 202nd.
32
Ranked 83th. 16 times more than Saint Helena

Unemployment rate 14%
Ranked 2nd. 75% more than United Kingdom
8%
Ranked 51st.

Exchange rates Saint Helenian pounds (SHP) per US dollar -<br />0.6388 (2010)<br />0.6175 (2009)<br />0.4993 (2007)<br />0.5418 (2006)<br /> British pounds (GBP) per US dollar -<br />0.63 (2012 est.)<br />0.62 (2011 est.)<br />0.65 (2010 est.)<br />0.62 (2009)<br />0.53 (2008)
GDP > CIA Factbook $18.00 million
Ranked 2nd.
$1.67 trillion
Ranked 6th. 92556 times more than Saint Helena

Trade > Exports to US $2.60 million
Ranked 154th.
$10.17 billion
Ranked 6th. 3912 times more than Saint Helena
Labor force > By occupation > Agriculture 6%
Ranked 141st. 4 times more than United Kingdom
1.4%
Ranked 176th.

Labor force > By occupation > Services 46%
Ranked 1st.
80.4%
Ranked 1st. 75% more than Saint Helena
Trade > Imports $45.00 million
Ranked 56th.
$546.50 billion
Ranked 6th. 12144 times more than Saint Helena

Oil > Exports 0.0
Ranked 205th.
1.31 million bbl/day
Ranked 19th.

Oil > Production 0.0
Ranked 210th.
1.39 million bbl/day
Ranked 20th.

Trade > Exports $19.00 million
Ranked 49th.
$405.60 billion
Ranked 10th. 21347 times more than Saint Helena

Imports > Commodities food, beverages, tobacco, fuel oils, animal feed, building materials, motor vehicles and parts, machinery and parts manufactured goods, machinery, fuels; foodstuffs
Labor force per thousand people 0.26
Ranked 78th. 515 times more than United Kingdom
0.000505
Ranked 108th.

Oil > Proved reserves 0.0
Ranked 198th.
2.86 billion bbl
Ranked 29th.

Natural gas > Production 0.0
Ranked 190th.
56.3 billion cu m
Ranked 13th.

Oil > Consumption 100 bbl/day
Ranked 209th.
1.62 million bbl/day
Ranked 14th. 16220 times more than Saint Helena

Electricity > Consumption 7.44 million kWh
Ranked 165th.
344.7 billion kWh
Ranked 9th. 46331 times more than Saint Helena

Oil > Consumption per thousand people 13.04 bbl/day
Ranked 107th.
26.05 bbl/day
Ranked 66th. Twice as much as Saint Helena

Labor force > By occupation > Industry 48%
Ranked 3rd. 3 times more than United Kingdom
18.2%
Ranked 100th.

Electricity > Production 8 million kWh
Ranked 133th.
346 billion kWh
Ranked 11th. 43250 times more than Saint Helena

Oil > Production per thousand people 0.0
Ranked 209th.
22.37 bbl/day
Ranked 34th.

Oil > Imports 85 bbl/day
Ranked 197th.
1.45 million bbl/day
Ranked 12th. 17059 times more than Saint Helena

Trade balance with US $-1,600,000.00
Ranked 120th.
$-1,454,200,000.00
Ranked 202nd. 909 times more than Saint Helena
Natural gas > Proved reserves per capita 0.0
Ranked 197th.
4,079.52 cu m
Ranked 55th.

Natural gas > Proved reserves 0.0
Ranked 199th.
256 billion cu m
Ranked 39th.

Natural gas > Consumption 0.0
Ranked 191st.
94.28 billion cu m
Ranked 7th.

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbook 2010, 2011, 2012, 2013; US Census Bureau; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.

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