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    St. Kitts and Nevis Economy - 1989

      Overview: Although production of sugarcane--the islands' key crop--has declined, expansion of tourism and construction has produced a 4% average annual rate of real GDP growth since 1982.

      GDP: $83.0 million, per capita $2,210; real growth rate 4.6% (1986)

      Inflation rate (consumer prices): 0.9% (1987)

      Unemployment rate: 20-25% (1987)

      Budget: revenues $20.7 million; expenditures $24.4 million, including capital expenditures of $5.9 million (1986)

      Exports: $27.2 million (f.o.b., 1987); @m5commodities--sugar, manufactures, postage stamps; @m5partners--US 44%, UK 30%, Trinidad and Tobago 12%

      Imports: $79.5 million (c.i.f., 1987); @m5commodities--foodstuffs, intermediate manufactures, machinery, fuels; @m5partners--US 35%, UK 18%, Trinidad and Tobago 10%, Canada 6%, Japan 4%

      External debt: $23.6 million (December 1987)

      Industrial production: growth rate 5.8% (1986)

      Electricity: 11,400 kW capacity; 32 million kWh produced, 800 kWh per capita (1988)

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

      Agriculture: sugar on St. Kitts, cotton on Nevis

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-81), $15 million

      Currency: East Caribbean dollar (plural--dollars); 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 St. Kitts and Nevis on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of St. Kitts and Nevis Economy 1989 information contained here. All suggestions for corrections of any errors about St. Kitts and Nevis Economy 1989 should be addressed to the CIA.

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    Revised 15-Apr-03
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