Overview: The economy has historically depended on the growing and processing of sugarcane and on remittances from overseas workers. In recent years, tourism and export-oriented manufacturing have assumed larger roles.

National product: GDP - exchange rate conversion - $163 million (1992)

National product real growth rate: 4.1% (1992)

National product per capita: $4,000 (1992)

Inflation rate (consumer prices): 2.9% (1992)

Unemployment rate: 12.2% (1990)

Budget:
revenues: $85.7 million
expenditures: $85.8 million, including capital expenditures of $42.4 million (1993 est.)

Exports: $32.4 million (f.o.b., 1992)
commodities: sugar, clothing, electronics, postage stamps
partners: US 53%, UK 22%, Trinidad and Tobago 5%, OECS 5% (1988)

Imports: $100 million (f.o.b., 1992)
commodities: foodstuffs, intermediate manufactures, machinery, fuels
partners: US 36%, UK 17%, Trinidad and Tobago 6%, Canada 3%, Japan 3%, OECS 4% (1988)

External debt: $43.3 million (1992)

Industrial production: growth rate 11.8% (1988 est.); accounts for 11% of GDP

Electricity:
capacity: 15,800 kW
production: 45 million kWh
consumption per capita: 1,120 kWh (1992)

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

Agriculture: accounts for 7% of GDP; cash crop - sugarcane; subsistence crops - rice, yams, vegetables, bananas; fishing potential not fully exploited; most food imported

Illicit drugs: transshipment point for South American drugs destined for the US

Economic aid:
recipient: US commitments, including Ex-Im (FY85-88), $10.7 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-89), $67 million

Currency: 1 EC dollar (EC$) = 100 cents
Exchange rates: East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)

Fiscal year: calendar year

NOTE: The information regarding Saint Kitts and Nevis on this page is re-published from the 1995 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Kitts and Nevis Economy 1995 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis Economy 1995 should be addressed to the CIA.