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Saint Kitts and Nevis Economy 2011
https://theodora.com/wfb2011/saint_kitts_and_nevis/saint_kitts_and_nevis_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















Saint Kitts and Nevis Economy 2011
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on January 11, 2011

Economy - overview:
The economy of Saint Kitts and Nevis is heavily dependent upon tourism revenues, which has replaced sugar, the traditional mainstay of the economy until the 1970s. Following the 2005 harvest, the government closed the sugar industry after decades of losses of 3-4% of GDP annually. To compensate for employment losses, the government has embarked on a program to diversify the agricultural sector and to stimulate other sectors of the economy, such as tourism, export-oriented manufacturing, and offshore banking. More than 200,000 tourists visited the islands in 2009. Like other tourist destinations in the Caribbean, St. Kitts and Nevis is vulnerable to damage from natural disasters and shifts in tourism demand. The current government is constrained by one of the world's highest public debt burdens equivalent to roughly 185% of GDP, largely attributable to public enterprise losses.

GDP (purchasing power parity):
$719.5 million (2010 est.)
country comparison to the world: 211

$730.5 million (2009 est.)
$772.7 million (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$562 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-1.5% (2010 est.)
country comparison to the world: 203

-5.5% (2009 est.)
4.6% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$14,400 (2010 est.)
country comparison to the world: 82

$14,800 (2009 est.)
$15,700 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 3.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 25.8%
[see also: GDP - composition by sector - industry country ranks ]
services: 70.7% (2001)
[see also: GDP - composition by sector - services country ranks ]

Labor force:
18,170 (June 1995)
country comparison to the world: 210
[see also: Labor force country ranks ]

Unemployment rate:
4.5% (1997)
country comparison to the world: 42
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $212.4 million
[see also: Budget - revenues country ranks ]
expenditures: $232.1 million (2003 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
185% of GDP (2009 est.)
country comparison to the world: 3
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
4.5% (2007 est.)
country comparison to the world: 131
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2009)
country comparison to the world: 65

6.5% (31 December 2008)
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.75% (31 December 2009 est.)
country comparison to the world: 107

8.75% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$94.45 million (31 December 2009)

$93.23 million (31 December 2008)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$823.8 million (31 December 2009)

$787.8 million (31 December 2008)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$790.8 million (31 December 2008 est.)
country comparison to the world: 156

$782.4 million (31 December 2007 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$648 million (31 December 2009)
country comparison to the world: 103

$595.2 million (31 December 2008)
$439.7 million (31 December 2007)
[see also: Market value of publicly traded shares country ranks ]

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

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

Industrial production growth rate:
NA%
[see also: Industrial production growth rate country ranks ]

Electricity - production:
130 million kWh (2007 est.)
country comparison to the world: 185
[see also: Electricity - production country ranks ]

Electricity - consumption:
120.9 million kWh (2007 est.)
country comparison to the world: 188
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2009 est.)
country comparison to the world: 138
[see also: Oil - production country ranks ]

Oil - consumption:
1,000 bbl/day (2009 est.)
country comparison to the world: 197
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 182
[see also: Oil - exports country ranks ]

Oil - imports:
1,225 bbl/day (2007 est.)
country comparison to the world: 185
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl (1 January 2010 est.)
country comparison to the world: 131
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 138
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
0 cu m (2008 est.)
country comparison to the world: 158
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 136
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
0 cu m (2008 est.)
country comparison to the world: 141
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 142
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$163 million (2007 est.)
country comparison to the world: 85
[see also: Current account balance country ranks ]

Exports:
$84 million (2006)
country comparison to the world: 199
[see also: Exports country ranks ]

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

Exports - partners:
US 62.3%, Canada 7.93%, Azerbaijan 6.72% (2009)

Imports:
$383 million (2006)
country comparison to the world: 190
[see also: Imports country ranks ]

Imports - commodities:
machinery, manufactures, food, fuels

Imports - partners:
US 43.37%, Trinidad and Tobago 15.26%, Italy 11.83% (2009)

Debt - external:
$314 million (2004)
country comparison to the world: 172
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)


NOTE: The information regarding Saint Kitts and Nevis on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Kitts and Nevis Economy 2011 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis Economy 2011 should be addressed to the CIA.






This page was last modified 09-Feb-11
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