Main data source:CIA World Fact Book All values, unless otherwise stated, are in US dollars.
The economy of Saint Kitts and Nevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry in recent years. Tourism, export-oriented manufacturing, and offshore banking activity have assumed larger roles in Saint Kitts and Nevis. Most food is imported. The government has undertaken a program designed to revitalize the faltering sugar sector. It is also working to improve revenue collection in order to better fund social programs. In 1997, some leaders in Nevis were urging separation from Saint Kitts on the basis that Nevis was paying far more in taxes than it was receiving in government services, but the vote on cessation failed in August 1998. In late September 1998, Hurricane Georges caused approximately $445 million in damages and limited GDP growth for the year.
The economy of St. Kitts and Nevis experienced strong growth for most of the 1990s but hurricanes in 1998 and 1999 contributed to a sharp slowdown. Real economic growth was 0.75% in 2002 after a decline of 4.3% in 2001. The economy experienced a mixed performance during 2002, with some sectors experiencing positive growth while others experienced varying levels of decline. The construction sector recorded a 4.51% decline, manufacturing and hotels and restaurants also recorded significant declines of 4.01 and 9.89% respectively, and sugar production fell by 5.1%. Significant new investment in tourism, including a 648-room Marriott hotel and convention center that opened in December 2002, as well as continued government efforts to diversify the economy, are expected to improve economic performance. Consumer prices have risen marginally over the past few years. The inflation rate was 3–4% for most of the 1990s.
St. Kitts and Nevis is a member of the Eastern Caribbean Currency Union (ECCU) The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean dollar) for all members of the ECCU. The ECCB also manages monetary policy, and regulates and supervises commercial banking activities in its member countries. There is an extensive parallel economy denominated in US$, which is the de facto currency for many business transactions.
St. Kitts is a member of the Eastern Caribbean Telecommunications (ECTEL) authority, which is developing the regulations to liberalize the telecommunications sector in the region by 2004.
^ abcde"World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 25 October 2019.
^"Export Partners of Saint Kitts and Nevis". The Observatory of Economic Complexity. Retrieved 9 March 2024.
^"Import Partners of Saint Kitts and Nevis". The Observatory of Economic Complexity. Retrieved 9 March 2024.
and 27 Related for: Economy of Saint Kitts and Nevis information
The economyofSaintKittsandNevis has traditionally depended on the growing and processing of sugar cane; decreasing world prices have hurt the industry...
Indies. Nevis and the neighbouring island ofSaintKitts constitute the Federation ofSaintKittsandNevis, a singular nation state. Nevis is located near...
Basseterre (/bæsˈtɛər/; SaintKitts Creole: Basterre) is the capital and largest city ofSaintKittsandNevis with an estimated population of 14,000 in 2018....
SaintKittsandNevis is a two-island country in the West Indies. Located in the Leeward Islands chain of the Lesser Antilles, it is the smallest sovereign...
order-in-council of 1838 resulted in St. Kitts formally adopting the sterling currency in the year 1849 (andNevis in 1858). However, despite the circulation of British...
Antigua and Barbuda, Dominica, Grenada, Montserrat, SaintKittsandNevis, Saint Lucia, andSaint Vincent and the Grenadines, all members of the Organisation...
This is a list ofSaintKittsandNevis billionaires based on an annual assessment of wealth and assets compiled and published by Forbes magazine in 2023...
occurring in Barbuda, Nevisand Anguilla. In Anguilla, this resulted in the secession of Anguilla from SaintKitts-Nevis-Anguilla in 1969 and its reversion to...
The dollar was the currency ofNevis until 1830. The currency consisted of counterstamped Spanish and French colonial coins. The dollar was subdivided...
Saint John Capisterre is one of 14 administrative parishes that make up SaintKittsandNevis. It is the second largest parish on SaintKitts (after Saint...
Saint Anne Sandy Point is one of 14 administrative parishes that make up SaintKittsandNevis. It is the smallest parish on St. Kitts in terms of area...
The French settlement of St. KittsandNevis started in the early seventeenth century. Throughout its history on SaintKitts until the nineteenth century...
Saint Paul Charlestown is one of 14 administrative parishes that make up SaintKittsandNevis. It is located on the island ofNevis, and the parish capital...
Saint Paul Capisterre is one of 14 administrative parishes that make up SaintKittsandNevis. It is the second smallest parish on St. Kitts, and third...
Saint Thomas Lowland is one of 5 Nevis parishes which are in turn part of the 14 administrative parishes that make up the Federation ofSaintKitts and...