Published: Monday, 21th October 2024
In this page, you will find a detailed guide on the standard of living in Saint Kitts and Nevis, covering various aspects such as economy, health system factors, environment, import-export, taxes and finances.
 Indicators  | Saint Kitts and Nevis  |
|---|---|
Gross Domestic Product (GDP) (2023)  | $1 billion USD |
GDP Per Capita (2023)  | 18,158 USD |
GINI Ratio (2023)  | 0.42 |
Inflation on Consumer Prices (2023)  | 3.56 % anually |
Central Government Debt (2023)  | 57.7 % of GDP |
Gross Domestic Product (GDP) is a measure of the total value of all goods and services produced within a country in a specific time period, usually a year. It is used to gauge the economic performance of a country and indicates how wealthy and productive a nation is. In simple terms, GDP tells us how much a country is producing and how well its economy is doing.
As per the statistics from the World Bank Data for the year 2023, the total GDP of Saint Kitts and Nevis is $1 billion USD.
On the other hand, Gross Domestic Product (GDP) Per Capita is the average economic output per person in a country. Simply put, it shows how much, on average, each person contributes to the economy, giving an idea of the standard of living and economic well-being of the people in that country.
Indicators | Saint Kitts and Nevis |
|---|---|
Human Development Index (HDI) (2023)  | 0.838 |
Human Capital Index (HCI) (2023)  | 0.59 |
Literacy Rate (2023)  | 98% (15 years+ above age) |
Life Expectancy Ratio (2023)  | 70 years |
Healthy Life Expectancy Ratio (2023)  | 65 years |
Poverty Ratio (2023)  | Yet to Update |
Unemployment Rate (2023)  | Yet to Update |
The Human Development Index (HDI) is a measure used to assess the overall well-being and quality of life of people living in a country. The key dimensions that give a country good HDI rank are a long and healthy life, being knowledgeable and having a decent standard of living. This is expressed as a value between 0 and 1. The higher a country's human development, the higher its HDI value.
Indicators | Saint Kitts and Nevis |
|---|---|
Gross National Expenditure (2023)  | Yet to Update |
Total Health Expenditure (2023)  | 6.16% of GDP |
Research and Development Expenditure (2023)  | Yet to Update |
Government Expenditure on Education (2023)  | 3.63% of GDP |
International Tourism Expenditure (2023)  | 18 million USD |
Number of International Tourists Arrivals (2023)  | 301,400 |
Military Expenditure (2023)  | Yet to Update |
Indicators | Saint Kitts and Nevis |
|---|---|
Number of Doctors (2023)  | 30.34 (Per 10,000 People) |
Number of Nurses (2023)  | 45.19 (Per 10,000 People) |
Number of Pharmacists (2023)  | 5.2 (Per 10,000 People) |
Available Hospital Beds (2023)  | 2.3 (Per 10,000 People) |
Pregnant Women Receiving Prenatal Care (2023)  | 100% of total Population |
Indicators | Saint Kitts and Nevis |
|---|---|
Agricultural Land (2023)  | 60 sq km |
Forest Area (2023)  | 110 sq km |
CO2 Emissions (2023)  | 0.18 kg per PPP $ of GDP |
Access to Electricity (2023)  | 100% of total Population |
Access to Internet (2023)  | 79.47% of total Population |
Annual Fresh Water Withdrawals (2023)  | 0.01 Billion cubic meters |
100% of the total Population of Saint Kitts and Nevis has access to the electricity in their homes.
79.47% of the total Population of Saint Kitts and Nevis has access to the Internet.
Indicators | Saint Kitts and Nevis |
|---|---|
Time Required to Start a Business (2023)  | 18.5 Days |
New Businesses Registered (2023)  | 104 (New Businesses) |
New Businesses Registration Density (2023)  | 3.08 (Per 1000 People) |
Cost of Business Start-Up Procedures (2023)  | 6.2% of GNI Per Capita |
In the year 2023, 104 new businesses got registered in Saint Kitts and Nevis.
It usually takes 18.5 days in Saint Kitts and Nevis to register a new business legally and systematically.
Indicators | Saint Kitts and Nevis |
|---|---|
Imports of Goods and Services (2023)  | Yet to Update |
Total Fuel Imports (2023)  | 0.69% of Merchandise Imports |
Cost to Import Border Compliance (2023)  | 310.71 USD |
Time to Import Border Compliance (2023)  | 37.14 Hours |
Cost to Import Documentary Compliance (2023)  | 90 USD |
Time to Import Documentary Compliance (2023)  | 33.14 Hours |
Indicators | Saint Kitts and Nevis |
|---|---|
Exports of Goods and Services (2023)  | Yet to Update |
Total Fuel Exports (2023)  | 0.03% of Merchandise Exports |
Cost to Export Border Compliance (2023)  | 335 USD |
Time to Export Border Compliance (2023)  | 27 Hours |
Cost to Export Documentary Compliance (2023)  | 100 USD |
Time to Export Documentary Compliance (2023)  | 24 Hours |
Indicators | Saint Kitts and Nevis |
|---|---|
Gross National Savings (2023)  | Yet t Update |
Tax Revenue (2023)  | 15.04% of GDP |
Taxes on Exports (2023)  | 0.01% of Tax Revenue |
Taxes on Goods and Services (2023)  | 21.01% of Tax Revenue |
Taxes on International Trade (2023)  | 12.95% of Revenue |
Time to Prepare and Pay Taxes (2023)  | 203 Hours |
Customs and Other Import Duties (2023)  | 23.57% of Tax Revenue |
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