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    Saint Kitts and Nevis Economy - 1991

      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.

      GDP: $97.5 million, per capita $2,400; real growth rate 4.6% (1988)

      Inflation rate (consumer prices): 5% (1989)

      Unemployment rate: 15% (1989)

      Budget: revenues $38.1 million; expenditures $68.1 million, including capital expenditures of $31.5 million (1991)

      Exports: $32.8 million (f.o.b., 1989); commodities--sugar, clothing, electronics, postage stamps; partners--US 53%, UK 22%, Trinidad and Tobago 5%, OECS 5% (1988)

      Imports: $89.6 million (f.o.b., 1989); commodities--foodstuffs, intermediate manufactures, machinery, fuels; partners--US 36%, UK 17%, Trinidad and Tobago 6%, Canada 3%, Japan 3%, OECS 4% (1988)

      External debt: $26.4 million (1988)

      Industrial production: growth rate 11.8% (1988 est.); accounts for 17% of GDP

      Electricity: 15,800 kW capacity; 45 million kWh produced, 1,120 kWh per capita (1990)

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

      Agriculture: accounts for 10% of GDP; cash crop--sugarcane; subsistence crops--rice, yams, vegetables, bananas; fishing potential not fully exploited; most food imported

      Economic aid: US commitments, including Ex-Im (FY85-88), $10.7 million; Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $57 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 Saint Kitts and Nevis on this page is re-published from the 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Kitts and Nevis Economy 1991 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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