Seychelles is the only place on Earth where mid-ocean islands are entirely granite and over 200 million years old. The islands have the rare coco de mer palm, which produces the world’s largest seed, weighing up to 33 pounds.
The country’s marine biodiversity includes over 1,000 fish species, with tuna fishing making up 22% of exports. Although only 3% of land is cultivable, agriculture yields valuable crops like coconuts, cinnamon, and vanilla. Granite is also used locally and exported. Tourism also contributes over 23% to the GDP.
Seychelles’s Natural Resources And Their Locations
Here are natural resources that have been found in Seychelles and their locations:
| Natural Resources | Locations |
|---|---|
| Tuna and Marine Fish | Seychelles EEZ, especially around Denis Island and St. Joseph Atoll |
| Coco de Mer Palm | Vallée de Mai, Praslin Island |
| Granite | Mahé Island, Silhouette Island |
| Vanilla | Mahé, Praslin, La Digue |
| Cinnamon | Mahé, Praslin |
| Coconut | Mahé, Praslin, La Digue |
| Forests and Biodiversity | Morne Seychellois National Park (Mahé), Silhouette Island |
| Oil and Gas Exploration | Owen Bank, Reith Bank (offshore EEZ) |
Discoveries Of Seychelles’s Natural Resources
Seychelles has commercially fished tuna since the mid-20th century, with exports becoming notable by the 1970s. Today, tuna represents about 22% of the country’s exports, supporting a large part of the economy.
In 1982, Seychelles’ 1.3 million km² Exclusive Economic Zone was recognized under the UN Convention on the Law of the Sea.
The coco de mer palm, native to Seychelles, was known to Arab traders long before European contact, with its nuts found across the Indian Ocean.
European records began after the islands were sighted in 1503, but scientific study and protection only started in the 19th century.
Vallée de Mai on Praslin, a UNESCO World Heritage Site since 1983, guard this rare species. Granitic islands like Mahé and Silhouette were first mapped by the Portuguese in 1503.
Although granite was used locally for generations, commercial quarrying and exports began in the 20th century as development expanded. Agriculture took hold after settlers arrived in 1770.
Following the abolition of slavery in the 1830s, the focus shifted to crops requiring less labor, including cinnamon, vanilla, and coconuts. These have been exported since the late 1800s and still play a part in the economy.
Offshore oil and gas exploration started in 1980, with three wells drilled by Amoco confirming a hydrocarbon system, though no commercial reserves were found.
A fourth well by Enterprise Oil in 1995 was dry. While activity is few, the area has long-term potential. Environmental protection efforts began in the 20th century. Morne Seychellois National Park was created in 1979, followed by Silhouette Island in 2010.
Viability Of Seychelles’ Natural Resources
Seychelles’ natural resources contribute to the country’s economy, with tuna fishing being the most valuable. The country’s Exclusive Economic Zone (EEZ) covers 1.3 million km² in the Indian Ocean, one of the world’s richest tuna fishing areas.
The tuna fishery is made up of three main fleets: local semi-industrial longliners, foreign-owned deep-water longliners, and foreign purse seiners. Together, these fleets catch about 111,000 tons of tuna each year.
Purse seiners take the largest share at 100,000 tons, while deep-water and semi-industrial longliners catch 10,000 and 1,000 tons, respectively.
Tuna fishing is a key source of income, with licensing fees alone bringing in over $12 million in 2017. Also, the value of tuna caught by Seychelles’ fleets has exceeded $200 million in recent years.
The sector supports over 4,000 direct jobs and many more indirectly, contributing nearly 10% to the national GDP. Agriculture, while smaller, still plays a part.
Cinnamon, vanilla, and coconuts are grown for export, mostly to Europe and nearby regions. However, farming is small due to the country’s small amount of arable land (about 3% of total land), and agriculture makes up only about 3% of the GDP.
Granite quarrying is viable on the Mahé and Silhouette Islands. It supports local construction and allows for some export but contributes little compared to fishing and tourism.
Oil and gas exploration offshore has not yet found commercially viable reserves. While there is potential for future development, the sector currently has no economic impact.
Export Potential Of Seychelles’ Natural Resources
| Export Category | Key Products |
|---|---|
| Tuna and Fish Products | Frozen tuna, canned tuna |
| Other Fish Products | Swordfish, sea cucumbers, fishmeal, fish oil |
| Agricultural Products | Cinnamon, vanilla, coconut |
Seychelles’ export economy is strongly driven by its marine resources, especially tuna. Tuna and tuna products make up over 90% of the country’s total export value.
In 2022 alone, Seychelles exported $59.4 million worth of frozen tuna, ranking as the 5th largest exporter in the world. Major buyers included Japan ($36.8M), Spain, Mauritius, Indonesia, and Cape Verde.
Canned tuna is Seychelles’ top export product, with most shipments going to the European Union. In 2023, 92.6% of canned tuna exports were sent to the EU. France led the imports with 61.2%, followed by Italy and Germany.
The Port of Victoria handles vast volumes of tuna. Foreign fishing fleets, operating under license, bring in over $10 million in fees and spend about $156 million on port-related services.
The interim Economic Partnership Agreement (iEPA) with the EU has boosted exports to Europe by 73.8% since 2012. Aside from tuna, Seychelles also exports other fish products like swordfish, sea cucumbers, fishmeal, and fish oil.
Although smaller in value, these exports show promise with value-added processing such as frozen fillets and dried fish.
In 2019, these products generated over $13 million from 6,600 metric tons exported. In agriculture, exports like cinnamon, vanilla, and coconuts support niche markets in Europe and the Indian Ocean.
Cinnamon has historical roots, while vanilla is grown mainly on Mahé and Praslin. Coconuts are used for oil production and are exported regionally.
Economic Impact Of Seychelles’ Natural Resources
| Sector | Contribution to GDP | Employment | Exports | Revenue |
|---|---|---|---|---|
| Fisheries | 8% (direct + indirect) | 10% | 22% | $10M licensing fees |
| Tourism | 23% (direct), 50%+ (indirect) | 19% | 35% | $316M+ foreign exchange earnings |
| Agriculture | 3% | Rural jobs | Niche exports | Food security focus |
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Fisheries Sector
Fisheries are a key pillar of Seychelles’ economy. Tuna fishing accounts for 22% of national exports and generates over $10 million annually through licensing fees.
The sector provides jobs for about 10% of the formal workforce, including fishermen, processing plant workers, and shipping services.
Also, the Port of Victoria manages hundreds of thousands of tons of tuna each year. Foreign fishing fleets spend around $156 million on port-related services, boosting the local economy.
Tourism Sector
Tourism is the largest economic sector in Seychelles, contributing 23% directly to GDP and over 50% indirectly. Tourists are drawn to the country’s white-sand beaches, rich marine life, and eco-tourism options.
The industry provides jobs for around 19% of the workforce and is the main source of foreign currency. Tourism also promotes environmental conservation. Many hotels invest in sustainable practices due to government incentives.
Agriculture Sector
Agriculture plays a smaller part due to small arable land (about 3%). It contributes modestly to GDP but is essential for food security and rural livelihoods. Key crops include coconuts, cinnamon, vanilla, fruits, and vegetables.