Economy overview: The economy has traditionally been based on the cultivation and processing of sugar cane; the decline in world prices in recent years has hit this production. Tourism, export-oriented manufacturing and offshore banking are becoming increasingly important. Most of the food is imported. The government is implementing a program to revive the depressed sugar sector. It is also working to increase fundraising to improve funding for social programs. In 1997, some leaders in Nevis favored secession on the grounds that Nevis paid far more taxes than it received from the state, but a secession vote in August 1998 failed. See topb2bwebsites.com to know more about Saint Kitts and Nevis in 2004.
GDP: at purchasing power parity – $274 million (2000 est.).
Real GDP growth rate: 5% (2000 est.).
GDP per capita: Purchasing power parity – $7,000 (2000 est.).
The composition of GDP by sectors of the economy: agriculture: 5.5%; industry: 22.5%; services: 72% (1996).
Proportion of the population below the poverty line: no data available.
Percentage distribution of household income or consumption: 10% of the poorest households account for: n/a; 10% of the wealthiest families account for: no data.
Inflation rate at consumer prices: 2.5% (2000 est.).
Labor force: 18,172 people (June 1995).
Employment structure: no data.
Unemployment rate: 4.5% (1997)
Budget: revenues: $64.1 million; expenditures: $73.3 million, including capital expenditures of $10.4 million (1997 est.).
Spheres of economy: sugar processing, tourism, production of cotton, salt, copra, clothing, shoes, drinks.
Growth in industrial production: no data available.
Electricity generation: 90 million kWh (1999).
Sources of electricity generation: fossil fuels: 100%; hydropower: 0%; nuclear fuel: 0%; others: 0% (1999).
Electricity consumption: 83.7 million kWh (1999)
Electricity export: 0 kWh (1999).
Electricity import: 0 kWh (1999).
Agricultural products: sugarcane, rice, yams, vegetables, bananas; fish.
Export: $53.2 million (2000 est.)
Exports: machinery, food, electronics, beverages, tobacco.
Export partners: US 68.5%, UK 22.3%, CARICOM countries 5.5% (1995 est.).
Imports: $151.5 million (2000 est.)
Imports: machinery, manufactured goods, foodstuffs, fuels.
Import partners: US 42.4%, CARICOM 17.2%, UK 11.3% (1995 est.).
External debt: $115.1 million (1998) Economic aid recipient: $5.5 million (1995)
Donor Economic Assistance:
Currency: East Caribbean dollar.
Currency code: XCD.
Exchange rate: XCD/USD – 2.7000 (fixed exchange rate since 1976).
Fiscal year: calendar year.
Telecommunications Telephone lines: 17,000 (1997).
Mobile Cell Phones: 205 (1997).
Telephone system: good inter-island and international communication; domestic: inter-island radiotelephony is carried out in the VHF / UHF / SHF bands; international: international connection is provided by radio from Antigua and Barbuda and onwards via submarine cable or via Intelsat, or first by radiotelephone to St. Maarten (Guadeloupe and the Netherlands Antilles) and further via Intelsat.
Broadcast stations: AM – 3, FM – 1, shortwave – 0 (1998).
Radio receivers: 28,000 (1997).
Television broadcast stations: 1 (and 3 repeaters) (1997).
TVs: 10,000 (1997).
Internet country code: kn
Internet service providers: 16 (2000).
Number of users: 2,000 (2000).
Transport Railways: total: 58 km; narrow gauge: 58 km (0.762 m gauge) in the sugarcane plantations of St. Christopher Island (1995).
Roads: total: 320 km; coated: 136 km; unpaved: 184 km (2000)
Ports and harbours: Basseterre, Charpstown.
Merchant Marine: None (2000 est.).
Airports: 2 (2000 est.).
Airports with paved runways: total: 2; from 1524 to 2437 m:1; from 914 to 1523 m:1 (2000 est.).
Airports with unpaved runways:
Branches of the Armed Forces: Royal St. Kitts and Nevis Police Force, Coast Guard, Royal St. Kitts and Nevis Defense Force.
Total military manpower:
Eligible for military service:
Number of persons reaching draft age each year:
Military spending in dollar terms: n.d.a.
Military spending as part of GDP: no data available.
International issues International disputes: no.
Illicit Drugs: Transit point for drugs moving from South America to the US and Europe.