Introduction - Saint Kitts and Nevis: |
Location - Saint Kitts and Nevis: |
People - Saint Kitts and Nevis: |
Government - Saint Kitts and Nevis: |
Economy - Saint Kitts and Nevis: |
Economy overview | Sugar was the traditional mainstay of the Saint Kitts economy until the 1970s. The government closed the sugar industry following the 2005 harvest after decades of losses at the state-run sugar company. To compensate, the government has embarked on a program to diversify the agricultural sector and to stimulate other sectors of the economy. Activities such as tourism, export-oriented manufacturing, and offshore banking have assumed larger roles in the economy. Tourism revenues are now the chief source of the islands foreign exchange; about 341,800 tourists visited Nevis in 2005. Additional tourist facilities, including a second cruise ship pier, hotels, and golf courses are under construction. |
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Gdp purchasing power parity | $726 million (2006 est.) |
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Gdp official exchange rate | $453 million (2005) |
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Gdp real growth rate | 4.9% (2005 est.) |
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Gdp per capita ppp | $8,200 (2005 est.) |
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Gdp composition by sector | agriculture: 3.5%
industry: 25.8%
services: 70.7% (2001) |
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Labor force | 18,170 (June 1995) |
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Unemployment rate | 4.5% (1997) |
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Population below poverty line | NA% |
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Household income or consumption by percentage share | lowest 10%: NA%
highest 10%: NA% |
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Inflation rate consumer prices | 8.7% (2005 est.) |
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Budget | revenues: $89.7 million
expenditures: $128.2 million; including capital expenditures of $19.5 million (2003 est.) |
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Agriculture products | sugarcane, rice, yams, vegetables, bananas; fish |
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Industries | tourism, cotton, salt, copra, clothing, footwear, beverages |
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Industrial production growth rate | NA% |
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Electricity production | 125 million kWh (2004) |
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Electricity consumption | 116.3 million kWh (2004) |
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Electricity exports | 0 kWh (2004) |
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Electricity imports | 0 kWh (2004) |
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Oil production | 0 bbl/day (2004 est.) |
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Oil consumption | 800 bbl/day (2004 est.) |
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Oil exports | NA bbl/day |
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Oil imports | NA bbl/day |
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Oil proved reserves | 0 bbl |
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Natural gas production | 0 cu m (2004 est.) |
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Natural gas consumption | 0 cu m (2004 est.) |
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Exports | $70 million (2004 est.) |
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Exports commodities | machinery, food, electronics, beverages, tobacco |
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Exports partners | US 64.7%, Canada 9.8%, Netherlands 6.9% (2006) |
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Imports | $405 million (2004 est.) |
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Imports commodities | machinery, manufactures, food, fuels |
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Imports partners | US 49.7%, Trinidad and Tobago 13.3%, UK 4.5% (2006) |
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Debt external | $314 million (2004) |
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Economic aid recipient | $NA |
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Currency code | East Caribbean dollar (XCD) |
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Exchange rates | East Caribbean dollars per US dollar - 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003), 2.7 (2002) |
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Communications - Saint Kitts and Nevis: |
Transportation - Saint Kitts and Nevis: |
Military - Saint Kitts and Nevis: |
This page was last updated on 16 September, 2007