Flag Saint Kitts and Nevis

Overview In 2019 Saint Kitts and Nevis was the number 177 economy in the world in terms of GDP (current US$), the number 198 in total exports, the number 195 in total imports, the number 44 economy in terms of GDP per capita (current US$) and the number null most complex economy according to the Economic Complexity Index (ECI).

Exports The top exports of Saint Kitts and Nevis are Low-voltage Protection Equipment ($14.9M), Broadcasting Equipment ($13.7M), Other Measuring Instruments ($10.3M), Electric Motor Parts ($4.21M), and Electrical Transformers ($3.82M), exporting mostly to United States ($42.3M), Germany ($4.63M), Italy ($2.92M), Canada ($2.39M), and France ($1.26M).

Imports The top imports of Saint Kitts and Nevis are Refined Petroleum ($54.5M), Jewellery ($19.8M), Passenger and Cargo Ships ($16.8M), Cars ($12.6M), and Poultry Meat ($5.72M), importing mostly from United States ($185M), Peru ($18.9M), Germany ($14.6M), United Kingdom ($10.2M), and China ($9.65M).

Location Saint Kitts and Nevis borders Antigua and Barbuda, Netherlands, Venezuela, and Montserrat by sea.

Historical Data

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Yearly Exports

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Top Export (2019): Low-voltage Protection Equipment, $14.9M

Top Destination (2019): United States, $42.3M

In 2019, Saint Kitts and Nevis exported a total of $61.2M, making it the number 198 exporter in the world. During the last five reported years the exports of Saint Kitts and Nevis have changed by -$42M from $103M in 2014 to $61.2M in 2019.

The most recent exports are led by Low-voltage Protection Equipment ($14.9M), Broadcasting Equipment ($13.7M), Other Measuring Instruments ($10.3M), Electric Motor Parts ($4.21M), and Electrical Transformers ($3.82M). The most common destination for the exports of Saint Kitts and Nevis are United States ($42.3M), Germany ($4.63M), Italy ($2.92M), Canada ($2.39M), and France ($1.26M).

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Yearly Imports

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Top Import (2019): Refined Petroleum, $54.5M

Top Origin (2019): United States, $185M

In 2019 Saint Kitts and Nevis imported $313M, making it the number 195 trade destination in the world. During the last five reported years the imports of Saint Kitts and Nevis changed by -$156M from $469M in 2014 to $313M in 2019.

The most recent imports of Saint Kitts and Nevis are led by Refined Petroleum ($54.5M), Jewellery ($19.8M), Passenger and Cargo Ships ($16.8M), Cars ($12.6M), and Poultry Meat ($5.72M). The most common import partners for Saint Kitts and Nevis are United States ($185M), Peru ($18.9M), Germany ($14.6M), United Kingdom ($10.2M), and China ($9.65M).

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Flow

Fastest Growing Export Markets (2018 - 2019)

Fastest Growing Import Markets (2018 - 2019)

Saint Kitts and Nevis Exports Services (2013): $235M

Saint Kitts and Nevis Imports Services (2013): $119M

In 2013, Saint Kitts and Nevis exported $235M worth of services. The top services exported by Saint Kitts and Nevis in 2013 were Travel ($101M), Government services, n.i.e. ($91.6M), Other business services ($19M), Sea transport ($10.3M), and Air transport ($6.35M).

The top services imported by Saint Kitts and Nevis in 2013 were Other business services ($36.8M), Sea transport ($28.6M), Air transport ($18.8M), Travel ($15.5M), and Government services, n.i.e. ($6.69M).

Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Saint Kitts and Nevis are Ethyl alcohol and other spirits, denatured (796k%) and Cigarettes containing tobacco (518k%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

*The tariffs applied to imports for Saint Kitts and Nevis are:
76: Agreement between CARICOM Caribbean Community (CARICOM) Less Developed Countries (LDCs) : Antigua & Barbuda,Belize,Commonwealth of Dominica,Grenada,Republic of Haiti,Montserrat,Federation of St. Kitt
77: Agreement between CARICOM Caribbean Community (CARICOM) More Developed Countries (MDCs) : Commonwealth of the Bahamas,Barbados,Co-operative Republic of Guyana, Jamaica, Republic of Suriname and Repub
136: Most Favoured Nation duty rate treatement
154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states
218: Preferential tariff for European Union countries

Economic Complexity

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Most Specialized Products by RCA Index

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Saint Kitts and Nevis has a high level of specialization in Other Animals (113), Electric Motor Parts (65.3), Other Measuring Instruments (64.7), Recreational Boats (55.2), and Low-voltage Protection Equipment (45.6). Specialization is measured using RCA, an index that takes the ratio between Saint Kitts and Nevis observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Saint Kitts and Nevis according to the product complexity index (PCI) are Measuring or checking instruments nes (1.93), Sharpening, honing, lapping, grinding machine tools (1.77), Parts for electrical switches, protectors, connectors (0.95), Parts for radio, tv transmission, receive equipment (0.92), and Electrical resistors and rheostats except for heating (0.8). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Saint Kitts and Nevis according to the relatedness index, are Scrap Copper (0.049), Collector's Items (0.048), Cocoa Beans (0.045), Rolled Tobacco (0.045), and Non-fillet Fresh Fish (0.044). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Saint Kitts and Nevis is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

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This network shows the products most related to the production structure of Saint Kitts And Nevis. These are products that tend to be co-exported with the products that Saint Kitts And Nevis exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Diversification Frontier

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The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.