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Economy of Saint Kitts and Nevis vs Saint Vincent compared: GDP & Debt

Updated on by Georank team

Saint Kitts and Nevis has a GDP of $1.12B compared to $1.16B for Saint Vincent, ranking 187/197 and 186/197 by economy size, respectively.

Saint Kitts and Nevis has $586M in government debt (64.6% of GDP), compared to $1.07B (90.1% of GDP) in Saint Vincent.

The chart below compares the two countries' GDP growth in both current (nominal) and constant dollars, accounting for inflation over time.

Saint Kitts and Nevis
GDP, current $

GDP, constant 2015 $
Saint Vincent
GDP, current $

GDP, constant 2015 $
Year GDP
Saint Kitts Saint Vincent
Current $ Constant $ Current $ Constant $
1960 $12,366,636 - $13,066,634 $159,345,007
1961 $12,483,302 - $13,999,965 $166,559,007
1962 $12,541,635 - $14,524,964 $172,712,133
1963 $12,833,301 - $13,708,299 $161,891,133
1964 $13,416,633 - $14,758,296 $167,832,093
1965 $13,593,932 - $15,108,296 $169,317,298
1966 $14,469,078 - $16,099,960 $169,317,298
1967 $16,742,338 - $15,835,106 $153,191,835
1968 $14,600,000 - $15,350,000 $163,164,173
1969 $15,850,000 - $16,650,000 $167,832,047
1970 $16,300,000 - $18,450,000 $185,867,093
1971 $19,624,746 - $20,051,922 $191,383,722
1972 $22,944,849 - $27,585,805 $240,820,987
1973 $24,196,018 - $30,165,081 $214,086,643
1974 $31,514,856 - $32,923,703 $195,202,934
1975 $33,364,055 - $33,237,226 $180,350,510
1976 $30,095,602 - $32,792,845 $199,065,159
1977 $44,496,296 $194,002,840 $49,353,162 $225,400,307
1978 $49,433,333 $201,588,165 $60,844,771 $247,438,763
1979 $58,840,741 $216,904,179 $71,096,360 $255,807,679
1980 $68,459,259 $235,211,154 $82,340,340 $262,056,345
1981 $80,888,889 $238,849,643 $102,086,539 $274,147,373
1982 $86,022,222 $240,157,914 $113,759,203 $286,420,538
1983 $86,874,074 $243,007,917 $122,255,350 $292,631,842
1984 $98,603,704 $264,552,531 $135,024,988 $311,905,567
1985 $111,007,407 $287,171,953 $145,641,705 $331,179,292
1986 $130,685,185 $318,350,194 $160,846,657 $349,724,473
1987 $147,748,148 $339,203,231 $175,580,647 $351,256,284
1988 $172,692,593 $370,496,001 $200,726,713 $400,694,533
1989 $192,518,519 $390,798,418 $214,745,002 $406,326,738
1990 $217,259,259 $409,858,640 $240,366,667 $423,185,994
1991 $220,540,741 $402,216,051 $254,829,630 $427,991,589
1992 $242,137,037 $419,386,549 $277,955,556 $455,288,638
1993 $263,755,556 $447,913,010 $286,307,407 $474,641,733
1994 $295,159,259 $471,660,099 $289,437,037 $468,719,992
1995 $313,485,185 $497,050,235 $316,007,407 $505,123,834
1996 $333,944,444 $526,092,075 $331,488,889 $511,629,384
1997 $374,641,308 $561,992,423 $347,770,370 $529,562,766
1998 $383,257,331 $559,256,949 $373,618,519 $551,222,916
1999 $406,595,484 $577,264,388 $390,718,519 $566,162,769
2000 $421,695,770 $635,237,944 $427,946,037 $575,442,358
2001 $458,643,829 $668,609,851 $462,072,333 $585,502,420
2002 $481,077,374 $677,754,528 $487,763,852 $616,780,703
2003 $469,869,870 $651,095,767 $509,090,889 $658,051,576
2004 $506,900,000 $677,115,811 $549,900,185 $685,128,416
2005 $547,203,704 $743,018,278 $579,948,926 $702,178,230
2006 $644,414,815 $766,426,187 $643,501,148 $751,309,123
2007 $689,285,185 $771,029,360 $713,596,667 $776,274,889
2008 $777,692,593 $858,287,029 $732,663,259 $779,416,014
2009 $774,274,074 $829,064,586 $714,300,259 $768,674,153
2010 $778,718,519 $828,615,281 $720,447,889 $734,310,821
2011 $836,092,593 $842,010,736 $713,796,370 $729,858,866
2012 $824,585,185 $835,799,755 $730,032,593 $738,391,735
2013 $874,548,148 $883,668,355 $764,781,259 $756,574,515
2014 $952,111,111 $950,623,606 $770,900,000 $765,242,794
2015 $957,222,222 $957,222,222 $786,555,556 $786,555,556
2016 $1,006,818,519 $994,866,931 $814,303,704 $819,195,102
2017 $1,056,977,778 $997,065,002 $844,040,741 $831,877,076
2018 $1,076,548,148 $1,017,041,453 $884,329,630 $858,294,259
2019 $1,107,855,556 $1,046,924,639 $910,481,481 $864,031,342
2020 $883,922,222 $886,725,391 $864,566,667 $827,146,498
2021 $858,622,222 $889,985,054 $888,677,778 $844,461,993
2022 $981,429,630 $983,259,886 $989,188,889 $870,731,796
2023 $1,055,651,852 $1,012,966,874 $1,072,237,037 $917,110,147
2024 $1,122,388,889 $1,016,129,628 $1,157,207,407 $954,361,647

Economic indicators

Saint Kitts Saint Vincent
Gross domestic product
$1.12B
2024
$1.16B
2024
GDP rank
187/197
2024
186/197
2024
GDP growth
6.32%
2023-2024
7.92%
2023-2024
GDP per capita
$23,961
2024
$11,501
2024
GDP per capita rank
51/197
2024
81/197
2024
GDP per capita, PPP
$34,847
2024
$21,272
2024
Government debt
$586M
2024
$1.07B
2024
Debt-to-GDP ratio
64.6%
2026
90.1%
2026
Government debt per person
$12,505
2024
$10,661
2024
Government debt per person rank
44/185
2024
55/185
2024
Average annual personal income after taxes
$13,293
2026
$14,935
2026
Government expenditure, % of GDP
40%
2026
29.3%
2026
Consumer prices inflation
2.1%
2025-2026
3.63%
2023-2024
Unemployment rate
5.12%
2001
18.8%
2008
Population
46992
99240

GDP per capita in Saint Kitts and Nevis vs Saint Vincent

Saint Kitts and Nevis' GDP per capita is $23,961, ranking 51/197, compared to $11,501 in Saint Vincent, ranking 81/197. Adjusted for purchasing power (GDP per capita PPP), Saint Kitts and Nevis ranks 63rd at $34,847, while Saint Vincent ranks 92nd at $21,272.

Saint Kitts and Nevis
GDP per capita

GDP per capita, PPP
Saint Vincent
GDP per capita

GDP per capita, PPP
Year Current $
Saint Kitts Saint Vincent
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $221.6 - $154.8 -
1961 $225.6 - $163 -
1962 $230.3 - $166.5 -
1963 $240.1 - $154.9 -
1964 $256.4 - $164.4 -
1965 $265.8 - $166.2 -
1966 $290 - $174.9 -
1967 $344 - $170 -
1968 $309 - $163.1 -
1969 $347 - $175.2 -
1970 $365 - $192.3 -
1971 $444 - $207 -
1972 $521 - $282.1 -
1973 $551 - $306 -
1974 $721 - $331 -
1975 $765 - $331 -
1976 $692 - $324 -
1977 $1,026 - $484 -
1978 $1,144 - $592 -
1979 $1,367 - $687 -
1980 $1,598 - $790 -
1981 $1,894 - $972 -
1982 $2,023 - $1,074 -
1983 $2,052 - $1,144 -
1984 $2,341 - $1,254 -
1985 $2,651 - $1,342 -
1986 $3,140 - $1,472 -
1987 $3,573 - $1,596 -
1988 $4,206 - $1,814 -
1989 $4,723 - $1,930 -
1990 $5,373 $8,983 $2,150 $3,960
1991 $5,465 $9,131 $2,271 $4,126
1992 $5,947 $9,652 $2,471 $4,477
1993 $6,395 $10,418 $2,540 $4,769
1994 $7,065 $11,062 $2,563 $4,802
1995 $7,406 $11,747 $2,795 $5,277
1996 $7,788 $12,498 $2,930 $5,440
1997 $8,627 $13,409 $3,074 $5,726
1998 $8,711 $13,319 $3,301 $6,026
1999 $9,116 $13,754 $3,447 $6,266
2000 $9,320 $15,256 $3,769 $6,503
2001 $10,023 $16,235 $4,071 $6,768
2002 $10,454 $16,619 $4,303 $7,250
2003 $10,176 $16,226 $4,500 $7,903
2004 $10,945 $17,276 $4,873 $8,472
2005 $11,784 $19,500 $5,157 $8,986
2006 $13,838 $20,676 $5,745 $9,949
2007 $14,758 $21,301 $6,398 $10,604
2008 $16,605 $24,102 $6,599 $10,902
2009 $16,503 $23,385 $6,464 $10,869
2010 $16,623 $23,691 $6,552 $10,561
2011 $17,832 $24,550 $6,528 $10,774
2012 $17,532 $23,458 $6,714 $10,989
2013 $18,580 $24,624 $7,072 $11,625
2014 $20,219 $26,756 $7,169 $12,136
2015 $20,329 $26,877 $7,354 $12,379
2016 $21,388 $28,215 $7,657 $13,493
2017 $22,465 $29,579 $7,988 $13,575
2018 $22,901 $30,795 $8,428 $14,690
2019 $23,595 $32,482 $8,741 $15,340
2020 $18,859 $27,326 $8,351 $15,337
2021 $18,361 $26,897 $8,641 $16,201
2022 $21,012 $31,871 $9,694 $18,035
2023 $22,577 $33,980 $10,582 $19,820
2024 $23,961 $34,847 $11,501 $21,272

Spending and national debt comparison

In 2024, Saint Kitts and Nevis' government spending was $468M, accounting for 40% of its GDP, while Saint Vincent's spent $453M, or 29.3% of GDP.

Debt-to-GDP ratio is 64.6% in Saint Kitts and Nevis and 90.1% in Saint Vincent, ranking 67/185 and 29/185, respectively.

Saint Kitts and Nevis
Government spending

Government debt
Saint Vincent
Government spending

Government debt
Year % of GDP
Saint Kitts Saint Vincent
Government spending Government debt Government spending Government debt
1984 - - 23.1% -
1985 - - 21.4% -
1986 - - 22.3% -
1987 - - 23.7% -
1988 - - 24.8% -
1989 - - 27.6% -
1990 19.3% - 23.1% 53.9%
1991 18.2% - 25.5% 52.1%
1992 19.8% - 25.4% 49.6%
1993 21.3% - 22.3% 48.1%
1994 22.2% - 22.4% 52.8%
1995 23.7% - 19.9% 46.8%
1996 26.8% 50.7% 20.9% 40.7%
1997 26.3% 67.2% 26% 38.8%
1998 29.1% 79% 25.2% 39.5%
1999 33.6% 89.2% 25.2% 52.9%
2000 34.6% 96.5% 23.8% 54.3%
2001 30.9% 105.2% 24.4% 52%
2002 35.4% 119.7% 25.7% 53.2%
2003 30.9% 140.7% 26% 55.3%
2004 33.7% 153.1% 24.9% 58.6%
2005 34.7% 130.1% 26.7% 50.5%
2006 32.5% 140.3% 26.1% 44.7%
2007 32.2% 135.4% 27.1% 48.5%
2008 29.5% 123.4% 28.4% 50.3%
2009 30.4% 129.1% 31% 57.2%
2010 31.2% 134.9% 31.1% 61.1%
2011 30.3% 127.1% 29.4% 64%
2012 27.2% 121.4% 26.5% 68.1%
2013 28.6% 91.5% 29.4% 69.9%
2014 28% 69.3% 30.4% 75%
2015 29.1% 62.2% 27.6% 75.1%
2016 26% 57.4% 27.1% 79.4%
2017 25.5% 53.3% 26.6% 69%
2018 33.8% 53.9% 26.3% 69.4%
2019 37.3% 54.3% 29.2% 68.2%
2020 36.5% 68% 32.9% 80%
2021 41.2% 69.1% 37.2% 88.4%
2022 49.4% 60.2% 36.6% 86.3%
2023 43.3% 55.9% 38.8% 89.2%
2024 41.7% 52.2% 39.1% 92.7%
2025 41% 60.2% 36.4% 93.5%
2026 40% 64.6% 29.3% 90.1%

Government deficit by year

In 2024, Saint Kitts and Nevis' government deficit, the difference between spending and revenue, was -$119M, equivalent to -10.6% of GDP. This compares to Saint Vincent's deficit of -$144M, or -12.5% of GDP.

Over the past 35 years, Saint Kitts and Nevis recorded a fiscal deficit in 20 of those years, while Saint Vincent ran a deficit in 30 years. On average, Saint Kitts and Nevis posted an annual deficit equal to -1.51% of GDP, compared to deficit of -2.99% of GDP for Saint Vincent.

Deficit/surplus
Saint Kitts and Nevis

Saint Vincent
Year Deficit/surplus, % of GDP
Saint Kitts Saint Vincent
1984 - 2.5%
1985 - 4.23%
1986 - 2.32%
1987 - 1.1%
1988 - 0.59%
1989 - -1.92%
1990 0.62% 1.69%
1991 0.92% -0.47%
1992 0.5% -3.25%
1993 0.24% -1.46%
1994 0.79% 0.12%
1995 0.9% 1.08%
1996 -2.27% 1.57%
1997 -2.33% -2.77%
1998 -5.13% -1.81%
1999 -11.1% -1.93%
2000 -13.3% -0.82%
2001 -10.9% -1.6%
2002 -11.7% -2%
2003 -5.66% -2.51%
2004 -6.6% -2.71%
2005 -3.45% -4.3%
2006 -1.37% -3.13%
2007 -1.03% -3.07%
2008 -1.57% -1.3%
2009 -1.23% -2.85%
2010 -4.15% -3.7%
2011 1.6% -3.5%
2012 4.32% -1.81%
2013 10.9% -5.81%
2014 8.52% -2.82%
2015 5.66% -2.01%
2016 3.76% 0.04%
2017 1.68% -1.56%
2018 1.8% -1.65%
2019 -0.7% -3.45%
2020 -3.06% -5.92%
2021 5.41% -7.19%
2022 -4.15% -9.35%
2023 -0.28% -11.9%
2024 -10.6% -12.5%
2025 -8.54% -7.74%
2026 -6.71% -0.63%

Inflation comparison by year

Over the past 28 years, Saint Kitts and Nevis has recorded an average annual inflation rate of 2.25%, compared with 2.13% in Saint Vincent. In 2024, inflation was 2.1% in Saint Kitts and Nevis and 3.63% in Saint Vincent.

Inflation
Saint Kitts and Nevis

Saint Vincent
Year Inflation
Saint Kitts Saint Vincent
1997 8.7% 0.44%
1998 3.7% 2.14%
1999 3.4% 1.01%
2000 2.1% 0.17%
2001 2.1% 0.9%
2002 2.1% 1.86%
2003 2.3% 0.21%
2004 2.2% 2.96%
2005 3.4% 3.73%
2006 8.5% 2.74%
2007 4.5% 7.24%
2008 5.3% 10.1%
2009 2.1% 0.42%
2010 0.9% 0.75%
2011 5.8% 3.19%
2012 0.8% 2.6%
2013 1.1% 0.81%
2014 0.2% 0.19%
2015 -2.3% -1.73%
2016 -0.7% -0.15%
2017 0.7% 2.15%
2018 -1% 2.32%
2019 -0.3% 0.91%
2020 -1.2% -0.63%
2021 1.2% 1.57%
2022 2.7% 5.66%
2023 3.6% 4.56%
2024 1% 3.63%
2025 1.7% -
2026 2.1% -

Top exports between countries

Saint Kitts
Export category Export value
Wood & paper products $289K
Processed food, beverages & tobacco $85K
Precious metals & jewellery $6K
Textiles & consumer goods $3K
Machinery & equipment $1K
Saint Vincent
Export category Export value
Processed food, beverages & tobacco $1.76M
Raw agricultural goods $1.7M
Textiles & consumer goods $1.25M
Metals $492K
Chemicals & pharma $239K
Raw materials & minerals $16K
Animal & marine products $6K
Wood & paper products $1K

Balance of trade

Saint Kitts Saint Vincent
Current account balance
-$169M
2024
-$157M
2024
Current account balance ranking
96/190
2024
93/190
2024
Current account balance, % of GDP
-15.1%
2024
-13.5%
2024
Goods imports
$404M
2024
$445M
2024
Goods exports
$33.7M
2024
$59.2M
2024
Service imports
$239M
2024
$196M
2024
Service exports
$471M
2024
$366M
2024
Exports of goods and services, % of GDP
11%
2025
15.3%
2025

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Saint Kitts Saint Vincent
Economic freedom 62 60.1
Economic freedom ranking 85/197 95/197
Property rights n/a 69
Government integrity n/a 61.7
Judicial effectiveness n/a 77.8
Tax burden n/a 74.9
Government spending n/a 58.9
Fiscal health n/a 4.8
Business freedom n/a 69.4
Labor freedom n/a 59.7
Monetary freedom n/a 76.5
Trade freedom n/a 59
Investment freedom n/a 70
Financial freedom n/a 40

More economic indicators

Saint Kitts Saint Vincent
Services, % of GDP
66.1%
2024
66.4%
2024
Industry, % of GDP
20.9%
2024
15.4%
2024
Agriculture, forestry, and fishing, % of GDP
1.29%
2024
3.55%
2024
GNI, Atlas method
$1.05B
2024
$1.11B
2024
GNI per capita, PPP
$34,460
2024
$21,150
2024
Total reserves including gold
$295M
2024
$317M
2024
Total reserves ranking
168/177
2024
167/177
2024
Net foreign direct investment
-$19.5M
2024
-$74M
2024
Net inflows of foreign direct investment
$21.9M
2024
$73.8M
2024
Net outflows of foreign direct investment
$2.4M
2024
-$277K
2024
Servicing debt to the IMF, % of GNI
n/a
3.84%
2024

GDP per capita map

GDP per capita

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The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.