Saint Kitts and Nevis' Economy | Saint Kitts and Nevis Economy

Economy - overview: Sugar was the traditional mainstay of the Saint Kitts economy until the 1970s. Although the crop still dominates the agricultural sector, activities such as tourism, export-oriented manufacturing, and offshore banking have assumed larger roles in the economy. Tourism revenues are now the chief source of the islands' foreign exchange. The opening of a 470-room resort in February 2003 was expected to bring in much-needed revenue.

GDP: NA

GDP - real growth rate: -1.9% (2002 est.)

GDP - per capita: Purchasing power parity - $8,800 (2002 est.)

GDP - composition by sector: Agriculture: 3.5% industry: 25.8% services: 70.7% (2001)

Population below poverty line: NA%

Household income or consumption by percentage share: Lowest 10%: NA highest 10%: NA

Distribution of family income - Gini index:

Inflation rate (consumer prices):

Labor force: 18,170 (June 1995)

Labor force - by occupation: NA

Unemployment rate: 4.5% (1997)

Budget: Revenues: $89.7 million expenditures: $128.2 million, including capital expenditures of $19.5 million (2003 est.)

Industries: Sugar processing, tourism, cotton, salt, copra, clothing, footwear, beverages

Industrial production growth rate: NA%

Electricity - production: 105.8 million kWh (2002)

Electricity - production by source:

Electricity - consumption: 98.44 million kWh (2002)

Electricity - exports: 0 kWh (2002)

Electricity - imports: 0 kWh (2002)

Oil - production: 0 bbl/day (2001 est.)

Oil - consumption: 710 bbl/day (2001 est.)

Oil - exports: NA

Oil - imports: NA

Oil - proved reserves:

Natural gas - production:

Natural gas - consumption:

Natural gas - exports:

Natural gas - imports:

Natural gas - proved reserves:

Agriculture - products: Sugarcane, rice, yams, vegetables, bananas; fish

Exports: $70 million (2002 est.)

Exports - commodities: Machinery, food, electronics, beverages, tobacco

Exports - partners: US 57.5%, Canada 9%, Portugal 8.3%, UK 6.7% (2004)

Imports: $195 million (2002 est.)

Imports - commodities: Machinery, manufactures, food, fuels

Imports - partners: Ukraine 44.7%, US 22.1%, Trinidad and Tobago 8.8%, UK 6.2% (2004)

Debt - external: $171 million (2001)

Economic aid - recipient: $8 million (2001)

Currency:

Currency code:

Exchange rates: East Caribbean dollars per US dollar - 2.7 (2004), 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000)

Fiscal year: Calendar year

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