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Saint Kitts & Nevis : economy statistics and industry reports
- Updated on : 27 August 2012 Source : The World Factbook
Imports
$315.7 million (2011 est.)$235.9 million (2010 est.)
Exports
$58.6 million (2011 est.)$78.76 million (2010 est.)
Inflation rate (consumer prices)
3.8% (2011 est.)0.5% (2010 est.)
Unemployment rate
4.5% (1997)GDP - per capita (PPP)
$15,800 (2011 est.)$16,400 (2010 est.)
$17,200 (2009 est.)
note: data are in 2011 US dollars
National product real growth rate
-1.5% (2010 est.)-5.5% (2009 est.)
4.6% (2008 est.)
Internet users
17,000 (2009)Telephones - mobile cellular
84,600 (2009)Population growth rate
0.806% (2012 est.)Population
50,726 (July 2012 est.)Related countries
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Historical background
Carib Indians occupied the islands for hundreds of years before the British began settlement in 1623.
The islands became an associated state of the UK with full internal autonomy in 1967.
The island of Anguilla rebelled and was allowed to secede in 1971.
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Economic overview
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.
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