The economy of Saint Kitts and Nevis depends on tourism; since the 1970s, tourism has replaced sugar as the economy’s traditional mainstay. Roughly 200,000 tourists visited the islands in 2009, but reduced tourism arrivals and foreign investment led to an economic contraction in the 2009-2013 period, and the economy returned to growth only in 2014. Like other tourist destinations in the Caribbean, Saint Kitts and Nevis is vulnerable to damage from natural disasters and shifts in tourism demand.
Following the 2005 harvest, the government closed the sugar industry after several decades of losses. To compensate for lost jobs, the government has embarked on a program to diversify the agricultural sector and to stimulate other sectors of the economy, such as export-oriented manufacturing and offshore banking. The government has made notable progress in reducing its public debt, from 154% of GDP in 2011 to 83% in 2013, although it still faces one of the highest levels in the world, largely attributable to public enterprise losses. Saint Kitts and Nevis is among other countries in the Caribbean that supplement their economic activity through economic citizenship programs, whereby foreigners can obtain citizenship from Saint Kitts and Nevis by investing there.
$1.24 billion (2020 est.)
$1.39 billion (2019 est.)
$1.36 billion (2018 est.)
note: data are in 2017 dollars
2.1% (2017 est.)
2.9% (2016 est.)
2.7% (2015 est.)
$23,300 (2020 est.)
$26,200 (2019 est.)
$25,900 (2018 est.)
note: data are in 2017 dollars
$964 million (2017 est.)
0% (2017 est.)
-0.3% (2016 est.)
agriculture: 1.1% (2017 est.)
industry: 30% (2017 est.)
services: 68.9% (2017 est.)
household consumption: 41.4% (2017 est.)
government consumption: 25.9% (2017 est.)
investment in fixed capital: 30.8% (2017 est.)
investment in inventories: 0% (2017 est.)
exports of goods and services: 62.5% (2017 est.)
imports of goods and services: -60.4% (2017 est.)
coconuts, tropical fruit, roots/tubers, vegetables, sweet potatoes, pulses, watermelons, carrots/turnips, eggs, tomatoes
tourism, cotton, salt, copra, clothing, footwear, beverages
5% (2017 est.)
18,170 (June 1995 est.)
4.5% (1997)
N/A
lowest 10%: NA
highest 10%: NA
revenues: 307 million (2017 est.)
expenditures: 291.1 million (2017 est.)
1.7% (of GDP) (2017 est.)
62.9% of GDP (2017 est.)
61.5% of GDP (2016 est.)
31.9% (of GDP) (2017 est.)
calendar year
-$97 million (2017 est.)
-$102 million (2016 est.)
$610 million (2018 est.) note: data are in current year dollars
$53.9 million (2016 est.)
United States 69%, Germany 8%, Italy 5% (2019)
low-voltage protection equipment, broadcasting equipment, measuring instruments, electric motor parts, electrical transformers (2019)
$590 million (2018 est.) note: data are in current year dollars
$307.9 million (2016 est.)
United States 59%, Peru 6%, Germany 5% (2019)
refined petroleum, jewelry, ships, cars, poultry meats, cement (2019)
$365.1 million (31 December 2017 est.)
$320.5 million (31 December 2016 est.)
$201.8 million (31 December 2017 est.)
$187.9 million (31 December 2016 est.)
East Caribbean dollars (XCD) per US dollar -
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)
NOTE: The information regarding Saint Kitts and Nevis on this page is re-published from the 2022 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Saint Kitts and Nevis 2022 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis 2022 should be addressed to the CIA or the source cited on each page.
This page was last modified 01 Dec 23, Copyright © 23 ITA all rights reserved.