Economy - overview The economy has traditionally depended on the growing and processingof sugarcane; decreasing world prices have hurt the industry in recent years.Tourism and export-oriented manufacturing have assumed larger roles. Mostfood is imported. The newly elected government has undertaken a program designedto revitalize the faltering sugar sector. It is also working to improve revenuecollection in order to better fund social programs.

GDP purchasing power parity - $235 million (1996 est.)

GDP - real growth rate 4% (1996 est.)

GDP - per capita purchasing power parity - $5,700 (1996 est.)

GDP - composition by sector
agriculture: 6%
industry: 22%
services: 72% (1996 est.)

Inflation rate - consumer price index -0.9% (1995)

Labor force
total : 18,172 (June 1995)
by occupation: services 69%, manufacturing 31%

Unemployment rate 4.3% (May 1995)

Budget
revenues: $100.2 million
expenditures: $100.1 million, including capital expenditures of $41.4 million (1996est.)

Industries sugar processing, tourism, cotton, salt, copra, clothing, footwear,beverages

Industrial production growth rate NA %

Electricity - capacity 15,000 kW (1995)

Electricity - production 42 million kWh (1995)

Electricity - consumption per capita NA kWh

Agriculture - products sugarcane, rice, yams, vegetables, bananas; fishing potential not fullyexploited

Exports
total value: $35.4 million (f.o.b., 1994 est.)
commodities: machinery, food, electronics, beverages and tobacco
partners: US 46.6%, UK 26.4%, Caricom nations 9.8% (1994)

Imports
total value : $112.4 million (f.o.b., 1994 est.)
commodities: machinery, manufactures, food, fuels
partners: US 45%, Caricom nations 18.8%, UK 12.5%, Canada 4.2%, Japan 4.2%, (1994)

Debt - external $45.3 million (1994 est.)

Economic aid
recipient: ODA, $NA

Currency 1 EC dollar (EC$) = 100 cents

Exchange rates East Caribbean dollars (EC$) per US$1 - 2.7000 (fixed rate since 1976)

Fiscal year calendar year

NOTE: The information regarding Saint Kitts and Nevis on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Kitts and Nevis Economy 1997 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis Economy 1997 should be addressed to the CIA.