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Best Bitcoin Card for Seychelles

The island republic of the Seychelles lies east of the African continent and north of Madagascar in the Indian Ocean. In total, the republic consists of about 115 islands and atolls, of which about 35 are inhabited. To the actual Seychelles belong the islands Mahé (145 km²), Praslin (38 km²), Silhouette (20 km²) and La Digue (10 km²). The Republic also includes the Amiranten, Farquhar, Cosmoledo and Aldabra archipelagos and the islands of Coetivy, Alphonse, Platte and Providence. The islands are distributed over a sea area of about 390 000 km², while the land area covers only 454 km² (roughly the size of Andorra).

Political system

Seychelles is a presidential republic (in the Commonwealth) according to the 1993 constitution. Head of state, commander-in-chief of the armed forces and head of government is the president (James Alix Michel since April 2004). He is elected by the people for a term of five years – a total of three terms are possible – and appoints the ministers as members of the cabinet.

The legislative power lies with the Parliament (National Assembly), which consists of a chamber of 31 members elected every five years. The legal system is based on English and French law. The Seychelles is divided into 25 districts.

Economy

With an average gross domestic product (GDP) per capita of around US$8,900, the Republic of Seychelles is one of the wealthiest countries in Africa. The country’s main economic problem is a high budget deficit due to its dependence on imports and the strong influence of the state on the economy: the leading companies are nationalized in all economic sectors. Since taking office in 2004, however, President Michel has been pursuing a cautious reform course, and some state monopolies have already been lifted.

Agriculture and forestry are poorly developed due to a lack of land. Bananas, manioc and vegetables, for example, are cultivated for self-sufficiency. Basic foodstuffs have to be imported. The export of spices (nutmeg, vanilla, cinnamon) has declined considerably in importance due to the decline in world market prices, and the export of copra is stagnating.

The most important economic sector and main source of foreign exchange is tourism. About 30 % of all employed persons are employed in this sector. The number of guests who visit the high-priced tropical destination every year is over 200,000. Three-quarters of the tourists come from Europe. The Seychelles have already been awarded for their environmental policy (more than half of the country’s land area is protected).

The second important economic sector is tuna fishing and export. The “Indian Ocean Tuna Co.” is one of the largest fish processing factories in the world. However, piracy and declining fish stocks led to a loss of growth. The industry is moderately developed (14% of GDP) and concentrates on food processing. Beverages, cigarettes, soap, furniture and handicrafts are also produced.

The main trading partners of the Seychelles are Saudi Arabia, Spain and France in imports and Great Britain, as well as Spain and France in exports. The most important imported goods are machinery, vehicles, fuels, food and finished products.

There is an international airport near the capital Victoria on the island of Mahé. The most important connections between the islands are ships and smaller aircraft. The road network is about 400 km long.