Economy - overview:
The economy of Saint Kitts and Nevis depends on tourism; since the 1970s, tourism has replaced sugar as the economy’s traditional mainstay. 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. Roughly 200,000 tourists visited the islands in 2009, but reduced tourism arrivals and foreign investment led to an economic contraction in 2009-2013, and the economy returned to growth only in 2014. Like other tourist destinations in the Caribbean, St. Kitts and Nevis is vulnerable to damage from natural disasters and shifts in tourism demand. The government has made notable progress on 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.

GDP (purchasing power parity):
$1.358 billion (2015 est.) $1.294 billion (2014 est.) $1.22 billion (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 200
[see also: GDP country ranks ]

GDP (official exchange rate):
$889 million (2015 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
5% (2015 est.) 6.1% (2014 est.) 6.2% (2013 est.)
country comparison to the world: 42
[see also: GDP - real growth rate country ranks ]

GDP - per capita (PPP):
$22,800 (2015 est.) $21,700 (2014 est.) $20,400 (2013 est.)
note: data are in 2015 US dollars
country comparison to the world: 80
[see also: GDP - per capita country ranks ]

Gross national saving:
17.6% of GDP (2015 est.) 21.3% of GDP (2014 est.) 21.2% of GDP (2013 est.)
country comparison to the world: 100
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 73.6%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 10.7%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 29.3%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 25.3%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -38.9% (2015 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 1.7%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 24.1%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 74.2% (2015 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
sugarcane, rice, yams, vegetables, bananas; fish

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

Industrial production growth rate:
0.5% (2015 est.)
country comparison to the world: 158
[see also: Industrial production growth rate country ranks ]

Labor force:
18,170 (June 1995 est.)
country comparison to the world: 213
[see also: Labor force country ranks ]

Unemployment rate:
4.5% (1997)
country comparison to the world: 46
[see also: Unemployment rate country ranks ]

Population below poverty line:
NA%
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: $296.3 million
[see also: Budget revenues country ranks ]
expenditures: $259.3 million (2015 est.)
[see also: Budget expenditures country ranks ]

Taxes and other revenues:
33.3% of GDP (2015 est.)
country comparison to the world: 73
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
4.2% of GDP (2015 est.)
country comparison to the world: 9
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
83% of GDP (2013 est.) 144% of GDP (2012 est.)
country comparison to the world: 30
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
1.6% (2015 est.) 1% (2014 est.)
country comparison to the world: 91
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2009) 6.5% (31 December 2008)
country comparison to the world: 54
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
9.4% (31 December 2015 est.) 9.28% (31 December 2014 est.)
country comparison to the world: 88
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$220.1 million (31 December 2015 est.) $215.6 million (31 December 2014 est.)
country comparison to the world: 181
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$964.8 million (31 December 2015 est.) $1.094 billion (31 December 2014 est.)
country comparison to the world: 170
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$333.3 million (31 December 2015 est.) $396.7 million (31 December 2014 est.)
country comparison to the world: 179
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$598.4 million (31 December 2011) $598.4 million (31 December 2011) $623.9 million
country comparison to the world: 112
[see also: Market value of publicly traded shares country ranks ]

Current account balance:
-$112 million (2015 est.) -$65 million (2014 est.)
country comparison to the world: 70
[see also: Current account balance country ranks ]

Exports:
$61.3 million (2015 est.) $62.9 million (2014 est.)
country comparison to the world: 199
[see also: Exports country ranks ]

Exports - commodities:
machinery, food, electronics, beverages, tobacco

Exports - partners:
US 49.9%, Canada 5.3%, Azerbaijan 4.8%, Bolivia 4.7%, Bangladesh 4.4% (2014)

Imports:
$240.3 million (2015 est.) $241.8 million (2014 est.)
country comparison to the world: 203
[see also: Imports country ranks ]

Imports - commodities:
machinery, manufactures, food, fuels

Imports - partners:
US 39.3%, Trinidad and Tobago 17.8%, Germany 11.8%, China 4.3% (2014)

Debt - external:
$156.1 million (31 December 2014 est.) $158.8 million (31 December 2013 est.)
country comparison to the world: 190
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar - 2.7 (2015 est.) 2.7 (2014 est.) 2.7 (2013 est.) 2.7 (2012 est.) 2.7 (2011 est.)