After widening to an estimated 47.3% of GDP in 2010, the current-account deficit will narrow steadily during the forecast period-to about 39.6% of GDP in 2011 and 26.8% of GDP in 2012, driven primarily by growth in tourism. The trade deficit, however, will widen in 2011 because of rising global commodity prices and faster economic growth, which will increase imports, while export earnings, principally from canned tuna, will be held back by volatile fish catches (and uncertainty about new investment), before narrowing in 2012 on easing commodity prices. Although Seychelles re-exports a significant amount of refined oil products, the net effect of elevated oil prices will be negative and will weigh on the trade deficit. Receipts from services will grow strongly in 2011-12, driven by tourism, although trade-related service outflows and income payments to foreign investors will also increase. Although the current-account deficit will narrow, the gap will remain large, leaving Seychelles reliant on foreign direct investment inflows to finance the shortfall.