Bilateral Trade Commerce

Bilateral Trade

As per official figures, total imports from India in 2021-22 were US$ 49.27 million while total exports to India in 2021-22 were US$ 1.63 million.  In fact, on ground the figure is much higher since a large amount of consumer items and food products which are imported from UAE and Singapore are sourced from India, mainly due to absence of a direct shipping line between India and Seychelles.
Among the Indian companies present in Seychelles, Bank of Baroda has been maintaining a successful overseas branch in Victoria since 1978. In the private sector, Bharti Airtel Telecom group has invested significantly in setting up the Airtel mobile telephone and internet services in Seychelles since 1998.   TATA has supplied most of the fleet of buses for Seychelles to ply between its capital city Victoria and other regions of Mahé Island. Hyundai cars are popular in Seychelles and all the models plying on Seychelles roads are manufactured in Chennai. There is a prominent Indian business community in Seychelles and Indian goods are readily available in market.  Still there exist a wide scope for enhancing bilateral trade and investment.
The High Commission has been engaging with the local business community (primarily Indian) with an eye on a qualitative transformation in our bilateral economic engagement with Seychelles. 

Medical Tourism
As a country with strong commitment towards welfare measures for its citizens, Seychelles funds overseas treatment of patients for facilities not available locally. India has traditionally been Seychelles’ favoured destination primarily due to the high quality medical treatment available at relatively low cost.

Energy and Environment India and Seychelles have been supportive and have expressed understanding of each other’s position in the international fora on issues related to climate change. Seychelles has extended support to the International Solar Alliance (ISA) initiative and has become one of the founding members by ratifying its joining the ISA.

Seychelles trade relations with India

Value in Thousand Seychelles Rupees

S.no.

Year

2018

2019

2020

2021

2022 (Jan to Oct)

1

Export with India

14,373.22

10,589.85

35,748.77

27,541.56

18,005.95

2

% Growth

23.75

-26.32

237.58

-22.96

-34.62

3

Seychelles Total Export

4,600,747.54

3,663,418.72

5,084,188.83

5,414,414.28

3,596,579.52

4

% Growth

17.65

-20.37

38.78

6.50

-33.57

5

% Share

0.31

0.29

0.70

0.51

0.50

6

Import with India

911,274.42

928,568.19

874,107.16

832,604.47

888,850.67

7

% Growth

55.42

1.90

-5.87

-4.75

6.76

8

Seychelles Total Import

17,680,747.25

16,370,498.49

17,307,045.65

18,960,246.11

16,057,532.82

9

% Growth

-0.61

-7.41

5.72

9.55

-15.31

10

% Share

5.15

5.67

5.05

4.39

5.54

11

Total Trade

925,647.64

939,158.04

909,855.93

860,146.03

906,856.62

12

% Growth

54.81

1.46

-3.12

-5.46

5.43

13

Seychelles Total Trade

22,281,494.79

20,033,917.22

22,391,234.48

24,374,660.38

19,654,112.34

14

% Growth

2.68

-10.09

11.77

8.86

-19.37

15

% Share

4.15

4.69

4.06

3.53

4.61

16

TRADE BALANCE

-896,901.20

-917,978.33

-838,358.38

-805,062.91

-870,844.72

17

Seychelles Trade Balance

-13,079,999.71

-12,707,079.77

-12,222,856.82

-13,545,831.83

-12,460,953.29

 

Main Commodities Imported by Seychelles

1

Cans which are to be closed by soldering or crimping.

2

Rice

3

Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars

4

Other Medicaments (excluding goods of heading 30.02, 30.05 or 30.06) consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses (including those in the form of transdermal administration systems) or in forms or packings for retail sale

5

"Salt (including table salt and denatured salt) and pure sodium chloride, whether or not in aqueous solution or containing added anti-caking or free-flowing agents; sea water."

6

Other of maize (corn)

7

Articles of apparel and clothing accessories (including gloves,mittens and mitts), for all purposes, of vulcanised rubber otherthan hard rubber.

8

Meat of bovine animals, frozen; Boneless

9

Diagnostic or laboratory reagents on a backing, prepared diagnostic or laboratory reagents whether or not on a backing, other than those of heading 30.02 or 30.06; certified reference materials.

10

Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 87.02), including station wagons and racing cars

Main Commodities Exported by Seycehlles

1

Ferrous waste and scrap; remelting scrap ingots of iron or steel

2

Waste and scrap of alloy steel

3

Waste and scrap of stainless steel

4

Waste and scrap of precious metal or of metal clad with precious metal; other waste and scrap containing precious metal or precious metal compounds, of a kind used principally for the recovery of precious metal.

5

Aluminium waste and scrap.

INDIAN TOURIST ARRIVALS TO SEYCHELLES

Sl.No.

Year

No. of Indian Tourists

% share of total tourist arrivals

 

Growth percentage

Rank

1.

2018

13,901

3.8%

2.8%

6

 

2.

2019

14,338

3.7%

3.1%

7

 

3.

2020

2,898

2.5%

-79.8%

8

 

4.

2021

431

0.2%

-85.1%

39

 

5.

2022

(Jan-Oct)

3737

-

-

-

 

Source: National Bureau of Statistics, Ministry of Finance,

Govt. of the Republic of Seychelles.

2023-01-03 06:53:42