As the saying goes, look to the IT sector for information, and look to the economy for investment immigration. This is certainly true. As Saint Kitts and Nevis investment immigration enters the vision of Chinese investors, the investment community is eager to understand the economic structure of Saint Kitts and Nevis.
Saint Kitts and Nevis is an upper-middle-income country. Tourism is the main pillar of the national economy and the primary source of foreign exchange earnings. In recent years, the government of Saint Kitts and Nevis has prioritized the development of light industry and tourism to diversify the economy. Currently, the issue of external debt is the greatest challenge facing the country's economic development. By the end of 2006, the external debt of Saint Kitts and Nevis amounted to 180.5% of its GDP. Key economic data are as follows:
Gross Domestic Product (2009): 557 million USD.
GDP per capita (2009): 10,315 USD.
GDP growth rate (2009): -5.47%.
Currency name: Eastern Caribbean Dollar.
Fixed exchange rate: 1 USD = 2.7 Eastern Caribbean Dollars.
Inflation rate (2005): 3.6%.
The fiscal revenue and expenditure of the Saint Kitts and Nevis government for the current account in 2006 were as follows (unit: million Eastern Caribbean Dollars):
Revenue 363.5
Expenditure 336.9
Balance 26.6
External debt in 2003 and 2004 was 315 million USD and 314 million USD, respectively. Foreign exchange reserves in 2004 and 2005 were 78.5 million USD and 7.16 million USD, respectively.
Investment involves risks, the above information is for reference only