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    Saint Kitts and Nevis Index


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    Saint Kitts and Nevis Economy - 2004
    https://immigration-usa.com/wfb2004/saint_kitts_and_nevis/saint_kitts_and_nevis_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      Sugar was the traditional mainstay of the Saint Kitts economy until the 1970s. Although the crop still dominates the agricultural sector, activities such as tourism, export-oriented manufacturing, and offshore banking have assumed larger roles in the economy. As tourism revenues are now the chief source of the islands' foreign exchange, a decline in stopover tourist arrivals following the September 11, 2001 terrorist attacks has eroded government finances. The opening of a 1,000+ bed Marriott hotel in February 2003 was expected to bring in much-needed revenue.

      GDP:
      purchasing power parity - $339 million (2002 est.)

      GDP - real growth rate:
      -1.9% (2002 est.)

      GDP - per capita:
      purchasing power parity - $8,800 (2002 est.)

      GDP - composition by sector:
      agriculture: 3.5%
      industry: 25.8%
      services: 70.7% (2001)

      Population below poverty line:
      NA% (1997 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      1.7% (2001 est.)

      Labor force:
      18,172 (June 1995)

      Labor force - by occupation:
      NA

      Unemployment rate:
      4.5% (1997)

      Budget:
      revenues: $89.7 million
      expenditures: $128.2 million, including capital expenditures of $19.5 million (2003 est.)

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

      Industrial production growth rate:
      NA%

      Electricity - production:
      100.3 million kWh (2001)

      Electricity - production by source:
      fossil fuel: 100%
      hydro: 0%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      93.26 million kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      710 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

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

      Exports:
      $70 million (2002 est.)

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

      Exports - partners:
      US 65.7%, Canada 7.1%, UK 7.1%, Portugal 5.7% (2002)

      Imports:
      $195 million (2002 est.)

      Imports - commodities:
      machinery, manufactures, food, fuels

      Imports - partners:
      US 39%, Trinidad and Tobago 15.4%, Canada 9.2%, UK 6.7%, Denmark 6.2% (2002)

      Debt - external:
      $171 million (2001)

      Economic aid - recipient:
      $8 million (2001)

      Currency:
      East Caribbean dollar (XCD)

      Currency code:
      XCD

      Exchange rates:
      East Caribbean dollars per US dollar - 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000), 2.7 (1999)

      Fiscal year:
      calendar year


      NOTE: The information regarding Saint Kitts and Nevis on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Saint Kitts and Nevis Economy 2004 information contained here. All suggestions for corrections of any errors about Saint Kitts and Nevis Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/saint_kitts_and_nevis/saint_kitts_and_nevis_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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