Saint Kitts and NevIsland Economy - 2023

GEOGRAPHICAL NAMES 

Economic overview

high-income, tourism-based Caribbean OECS economy; better debt balancing; CARICOM and ECCU member; growing offshore financial and telecommunications hub; environmentally fragile; unique citizenship-driven growth model

Real GDP (purchasing power parity)

$1.261 billion (2021 est.)

$1.272 billion (2020 est.)

$1.488 billion (2019 est.)

note: data are in 2017 dollars

Real GDP growth rate

-0.88% (2021 est.)

-14.53% (2020 est.)

4.05% (2019 est.)

Real GDP per capita

$26,500 (2021 est.)

$26,700 (2020 est.)

$31,200 (2019 est.)

note: data are in 2017 dollars

GDP (official exchange rate)

$964 million (2017 est.)

Inflation rate (consumer prices)

1.2% (2021 est.)

-1.17% (2020 est.)

-0.33% (2019 est.)

GDP - composition, by sector of origin

agriculture: 1.1% (2017 est.)

industry: 30% (2017 est.)

services: 68.9% (2017 est.)

GDP - composition, by end use

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.)

Agricultural products

coconuts, tropical fruit, roots/tubers, vegetables, sweet potatoes, pulses, watermelons, carrots/turnips, eggs, tomatoes

Industries

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

Industrial production growth rate

1.55% (2021 est.)

Labor force

18,170 (June 1995 est.)

Unemployment rate

4.5% (1997)

Population below poverty line

N/A

Household income or consumption by percentage share

lowest 10%: NA

highest 10%: NA

Budget

revenues: $286 million (2020 est.)

expenditures: $324 million (2020 est.)

Budget surplus (+) or deficit (-)

1.7% (of GDP) (2017 est.)

Public debt

62.9% of GDP (2017 est.)

61.5% of GDP (2016 est.)

Taxes and other revenues

15.03% (of GDP) (2020 est.)

Fiscal year

calendar year

Current account balance

-$61.009 million (2021 est.)

-$78.456 million (2020 est.)

-$25.045 million (2019 est.)

Exports

$408.471 million (2021 est.) note: data are in current year dollars

$383.152 million (2020 est.)

$598.343 million (2019 est.)

Exports - partners

United States 56%, Italy 19%, Canada 4%, Germany 3%, Saint Vincent and the Grenadines 3% (2021)

Exports - commodities

broadcasting equipment, recreational boats, electrical plugs and sockets, measuring instruments, electrical transformers (2021)

Imports

$441.192 million (2021 est.) note: data are in current year dollars

$432.584 million (2020 est.)

$602.385 million (2019 est.)

Imports - partners

United States 50%, Trinidad and Tobago 10%, China 5%, Jamaica 4%, Germany 4% (2021)

Imports - commodities

refined petroleum, ships, cars, poultry, valves, jewelry (2021)

Reserves of foreign exchange and gold

$337.533 million (31 December 2021 est.)

$373.502 million (31 December 2020 est.)

$362.798 million (31 December 2019 est.)

Debt - external

$201.8 million (31 December 2017 est.)

$187.9 million (31 December 2016 est.)

Exchange rates

East Caribbean dollars (XCD) per US dollar -

2.7 (2021 est.)

2.7 (2020 est.)

2.7 (2019 est.)

2.7 (2018 est.)

2.7 (2017 est.)

NOTE: The information regarding Saint Kitts and NevIsland on this page is re-published from the 2023 World Fact Book of the United States Central Intelligence Agency and other sources. No claims are made regarding the accuracy of Saint Kitts and NevIsland 2023 information contained here. All suggestions for corrections of any errors about Saint Kitts and NevIsland 2023 should be addressed to the CIA or the source cited on each page.