Saint Kitts and Nevis - Economy
How is the economy of Saint Kitts and Nevis? Based on the information we have, Saint Kitts and Nevis has a 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. Key agricultural products in this country include: coconuts, tropical fruits, root vegetables, vegetables, eggs, pulses, sweet potatoes, watermelons, cucumbers/gherkins, tomatoes (2023).
More about the economy of Saint Kitts and Nevis
Labor force
Industrial production growth rate -2.4% (2023 est.)
Industries tourism, cotton, salt, copra, clothing, footwear, beverages
Population below poverty line
Taxes and other revenues 15.04% (of GDP) (2020 est.)
Fiscal year
Exchange rates
Currency East Caribbean dollars (XCD) per US dollar -
Exchange rates 2023 2.7 (2023 est.)
Exchange rates 2022 2.7 (2022 est.)
Exchange rates 2021 2.7 (2021 est.)
Exchange rates 2020 2.7 (2020 est.)
Exchange rates 2019 2.7 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $286.075 million (2023 est.)
Reserves of foreign exchange and gold 2022 $293.98 million (2022 est.)
Reserves of foreign exchange and gold 2021 $337.533 million (2021 est.)
Current account balance
Current account balance 2023 -$143.262 million (2023 est.)
Current account balance 2022 -$105.744 million (2022 est.)
Current account balance 2021 -$43.725 million (2021 est.)
Public debt
Public debt 2017 62.9% of GDP (2017 est.)
Budget
Revenues $262 million (2020 est.)
Expenditures $236.444 million (2020 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 3.46% of GDP (2023 est.)
Remittances 2022 3.83% of GDP (2022 est.)
Remittances 2021 4.32% of GDP (2021 est.)
Imports
Imports 2023 $674.134 million (2023 est.)
Imports 2022 $606.301 million (2022 est.)
Imports 2021 $407.417 million (2021 est.)
Imports (partners) USA 50%, Italy 11%, China 8%, Japan 2%, UK 2% (2023)
Comodities Imports force refined petroleum, ships, cars, jewelry, poultry (2023)
Exports
Imports 2023 $674.134 million (2023 est.)
Imports 2022 $606.301 million (2022 est.)
Imports 2021 $407.417 million (2021 est.)
Exports (partners) Malta 49%, USA 21%, Turkey 7%, St. Vincent & the Grenadines 5%, Guyana 3% (2023)
Comodities Exports force ships, measuring instruments, beer, electrical transformers, electrical control boards (2023)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $1.422 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $1.39 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.258 billion (2021 est.)
GDP (official exchange rate) $1.055 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $30,400 (2023 est.)
Real GDP per capita 2022 $29,800 (2022 est.)
Real GDP per capita 2021 $26,900 (2021 est.)
GDP - composition, by sector of origin
Agriculture 1.4% (2023 est.)
Industry 20.2% (2023 est.)
Services 66.2% (2023 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.)
Exports of goods and services 62.5% (2017 est.)
Imports of goods and services -60.4% (2017 est.)
All Important Facts about Saint Kitts and Nevis

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Saint Kitts and Nevis is found in Caribbean