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. 1996 Index
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Saint Kitts and Nevis Economy 1996
The economy has traditionally depended on the growing and processing of
sugarcane; decreasing world prices have hurt the industry in recent years.
Tourism and export-oriented manufacturing have begun to assume larger roles,
although they still only account for 7% and 4% of GDP respectively. Growth
in the construction and tourism sectors spurred the economic expansion in
1994. Most food is imported.
GDP - purchasing power parity - $210 million (1994 est.)
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National product real growth rate:
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National product per capita:
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Inflation rate (consumer prices):
$102.6 million, including capital expenditures of $50.1 million (1995 est.)
$32.4 million (f.o.b., 1992)
machinery, food, electronics, beverages and tobacco
US 50%, UK 30%, CARICOM nations 11% (1992)
$100 million (f.o.b., 1992)
machinery, manufactures, food, fuels
US 43%, CARICOM nations 18%, UK 12%, Canada 4%, Japan 4%, OECS 4% (1992)
growth rate 5.9% (1992 est.)
sugar processing, tourism, cotton, salt, copra, clothing, footwear,
beverages
accounts for 17% of GDP; cash crop - sugarcane; subsistence crops - rice,
yams, vegetables, bananas; fishing potential not fully exploited
transshipment point for South American drugs destined for the US
US commitments, including Ex-Im (FY85-88), $10.7 million; Western (non-US)
countries, ODA and OOF bilateral commitments (1970-89), $67 million
1 EC dollar (EC$) = 100 cents
East Caribbean dollars (EC$) per US$1 - 2.70 (fixed rate since 1976)
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