|
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. Economic growth was above average for Latin America from 2004 to 2006, but has since slowed. Tourism is projected to give the economy a boost in 2010, as large cruise ships add St. Kitts and Nevis to their itineraries. 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 a high public debt burden equivalent to roughly 185% of GDP, largely attributable to public enterprise losses.
|
|
|
$725.8 million (2009 est.)
country comparison to the world: 208
$767.8 million (2008 est.)
$733.8 million (2007 est.)
note:
data are in 2009 US dollars
|
|
|
$557 million (2009 est.)
|
|
|
-5.5% (2009 est.)
country comparison to the world: 191
4.6% (2008 est.)
2% (2007 est.)
|
|
|
$14,700 (2009 est.)
country comparison to the world: 75
$15,600 (2008 est.)
$15,100 (2007 est.)
note:
data are in 2009 US dollars
|
|
|
agriculture: 3.5%
industry:
25.8%
services:
70.7% (2001)
|
|
|
18,170 (June 1995)
country comparison to the world: 207
|
|
|
4.5% (1997)
country comparison to the world: 40
|
|
|
NA%
|
|
|
lowest 10%: NA%
highest 10%:
NA%
|
|
|
revenues: $89.7 million
expenditures:
$128.2 million (2003 est.)
|
|
|
185% of GDP (2009 est.)
country comparison to the world: 3
|
|
|
4.5% (2007 est.)
country comparison to the world: 140
|
|
|
6.5% (31 December 2008)
country comparison to the world: 63
6.5% (31 December 2007)
|
|
|
8.69% (31 December 2008)
country comparison to the world: 103
8.89% (31 December 2007)
|
|
|
$107.2 million (31 December 2008)
country comparison to the world: 152
$97.31 million (31 December 2007)
|
|
|
$680.6 million (31 December 2008)
country comparison to the world: 130
$688.6 million (31 December 2007)
|
|
|
$790.8 million (31 December 2008)
country comparison to the world: 119
$782.4 million (31 December 2007)
|
|
|
$NA (31 December 2009)
country comparison to the world: 103
$595.2 million (31 December 2008)
$439.7 million (31 December 2007)
|
|
|
sugarcane, rice, yams, vegetables, bananas; fish
|
|
|
tourism, cotton, salt, copra, clothing, footwear, beverages
|
|
|
NA%
|
|
|
130 million kWh (2007 est.)
country comparison to the world: 184
|
|
|
120.9 million kWh (2007 est.)
country comparison to the world: 188
|
|
|
0 kWh (2008 est.)
|
|
|
0 kWh (2008 est.)
|
|
|
0 bbl/day (2009 est.)
country comparison to the world: 138
|
|
|
1,000 bbl/day (2009 est.)
country comparison to the world: 197
|
|
|
0 bbl/day (2007 est.)
country comparison to the world: 180
|
|
|
1,225 bbl/day (2007 est.)
country comparison to the world: 185
|
|
|
0 bbl (1 January 2009 est.)
country comparison to the world: 131
|
|
|
0 cu m (2008 est.)
country comparison to the world: 138
|
|
|
0 cu m (2008 est.)
country comparison to the world: 158
|
|
|
0 cu m (2008 est.)
country comparison to the world: 136
|
|
|
0 cu m (2008 est.)
country comparison to the world: 141
|
|
|
0 cu m (1 January 2009 est.)
country comparison to the world: 141
|
|
|
-$163 million (2007 est.)
country comparison to the world: 85
|
|
|
$84 million (2006)
country comparison to the world: 198
|
|
|
machinery, food, electronics, beverages, tobacco
|
|
|
US 62.3%, Canada 7.93%, Azerbaijan 6.72% (2009)
|
|
|
$383 million (2006)
country comparison to the world: 189
|
|
|
machinery, manufactures, food, fuels
|
|
|
US 43.37%, Trinidad and Tobago 15.26%, Italy 11.83% (2009)
|
|
|
$314 million (2004)
country comparison to the world: 168
|
|
|
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
|
|
|