Saint Kitts and Nevis Export Data

Saint Kitts and Nevis Import/Export Overview and Domestic Market Update

Imports & Exports

• Top Trade Partners: Saint Kitts and Nevis primarily trades with the United States, Canada, and the United Kingdom, reflecting strong commercial ties with these nations.

• Imports: The top 5 imports in 2023 include machinery, vehicles, pharmaceuticals, mineral fuels, and food products, collectively accounting for over 60% of total imports.

• Exports: Key exports are rum, sugar, and other agricultural products, with rum alone representing a significant 20% of all exports.

• Trade Deficit: Despite efforts to boost local industries, Saint Kitts and Nevis experiences a notable trade deficit, primarily due to high import demands.

• Policy Impact: Trade policies, including recent agreements and tariff adjustments, are geared towards fostering growth in export-oriented sectors like agriculture and rum production.

Domestic Market

• Consumer Spending: Consumer spending in 2023 shows resilience, with a slight increase in retail sales, indicating a healthy but cautious consumer base.

• Inflation & Interest Rates: Inflation remains controlled, allowing for stable interest rates that encourage savings and moderate borrowing.

• Supply Chain Resilience: Efforts to diversify supply chains have paid off, with fewer disruptions and a more robust local supply network, reducing dependency on imports for critical goods.

• Industry Performance: Tourism, agriculture, and manufacturing are showing signs of growth, with tourism leading the pack due to successful marketing strategies and increased investment in infrastructure.

Overall Outlook

Saint Kitts and Nevis faces challenges but also opportunities in 2023. By leveraging its strategic trade partnerships and focusing on diversification, the country is poised for economic stability and growth. The continued development of key industries and the exploration of new markets are expected to drive long-term prosperity.