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

Updated on by Georank team

Saint Kitts and Nevis has a GDP of $1.07B compared to $99B for Sri Lanka, ranking 188/197 and 71/197 by economy size, respectively.

Saint Kitts and Nevis has $557M in government debt (60.2% of GDP), compared to $98.4B (105.6% of GDP) in Sri Lanka.

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 $
Sri Lanka
GDP, current $

GDP, constant 2015 $
Year GDP
Saint Kitts Sri Lanka
Current $ Constant $ Current $ Constant $
1960 $12,366,636 - $1,409,873,950 -
1961 $12,483,302 - $1,444,327,731 $6,526,664,116
1962 $12,541,635 - $1,434,156,379 $6,775,853,428
1963 $12,833,301 - $1,240,672,269 $6,946,384,624
1964 $13,416,633 - $1,309,747,899 $7,217,740,543
1965 $13,593,932 - $1,698,319,328 $7,400,851,267
1966 $14,469,078 - $1,751,470,588 $7,772,654,452
1967 $16,742,338 - $1,859,465,021 $8,273,137,570
1968 $14,600,000 - $1,801,344,538 $8,753,070,071
1969 $15,850,000 - $1,965,546,218 $9,428,528,703
1970 $16,300,000 - $2,296,470,588 $9,791,209,303
1971 $19,624,746 - $2,369,308,600 $9,919,171,146
1972 $22,944,849 - $2,553,936,348 $9,878,454,941
1973 $24,196,018 - $2,875,625,000 $10,575,616,915
1974 $31,514,856 - $3,574,586,466 $10,982,337,251
1975 $33,364,055 - $3,791,298,146 $11,655,140,838
1976 $30,095,602 - $3,591,319,857 $12,043,852,220
1977 $44,496,296 $194,002,840 $4,104,509,583 $12,658,159,773
1978 $49,433,333 $201,588,165 $2,733,183,857 $13,373,831,476
1979 $58,840,741 $216,904,179 $3,364,611,432 $14,230,232,388
1980 $68,459,259 $235,211,154 $4,024,621,900 $15,062,135,547
1981 $80,888,889 $238,849,643 $4,415,844,156 $15,920,605,692
1982 $86,022,222 $240,157,914 $4,768,765,017 $16,579,956,893
1983 $86,874,074 $243,007,917 $5,167,913,302 $17,378,114,521
1984 $98,603,704 $264,552,531 $6,043,474,843 $18,264,250,049
1985 $111,007,407 $287,171,953 $5,978,460,972 $19,177,354,129
1986 $130,685,185 $318,350,194 $6,405,210,564 $20,012,632,786
1987 $147,748,148 $339,203,231 $6,682,167,120 $20,357,972,917
1988 $172,692,593 $370,496,001 $6,978,371,581 $20,861,361,467
1989 $192,518,519 $390,798,418 $6,987,267,684 $21,341,027,046
1990 $217,259,259 $409,858,640 $8,032,551,173 $22,706,851,776
1991 $220,540,741 $402,216,051 $9,000,362,582 $23,751,364,061
1992 $242,137,037 $419,386,549 $9,703,011,636 $24,796,422,002
1993 $263,755,556 $447,913,010 $10,338,679,636 $26,507,390,805
1994 $295,159,259 $471,660,099 $11,717,604,209 $27,991,783,146
1995 $313,485,185 $497,050,235 $13,029,697,561 $29,531,355,077
1996 $333,944,444 $526,092,075 $13,897,738,375 $30,653,536,886
1997 $374,641,308 $561,992,423 $15,091,913,884 $32,617,018,444
1998 $383,257,331 $559,256,949 $15,794,972,847 $34,149,503,956
1999 $406,595,484 $577,264,388 $15,656,327,860 $35,618,117,204
2000 $421,695,770 $635,237,944 $16,330,814,180 $37,755,216,046
2001 $458,643,829 $668,609,851 $15,749,753,805 $37,171,743,867
2002 $481,077,374 $677,754,528 $16,536,535,647 $38,645,482,957
2003 $469,869,870 $651,095,767 $18,881,765,437 $40,941,128,632
2004 $506,900,000 $677,115,811 $20,662,525,941 $43,170,398,174
2005 $547,203,704 $743,018,278 $24,405,791,045 $45,864,985,657
2006 $644,414,815 $766,426,187 $28,279,802,406 $49,382,046,638
2007 $689,285,185 $771,029,360 $32,350,238,760 $52,738,458,482
2008 $777,692,593 $858,287,029 $40,713,826,215 $55,876,443,248
2009 $774,274,074 $829,064,586 $42,066,224,093 $57,853,861,433
2010 $778,718,519 $828,615,281 $58,636,161,082 $62,491,408,088
2011 $836,092,593 $842,010,736 $67,753,284,044 $67,909,090,095
2012 $824,585,185 $835,799,755 $70,447,216,891 $73,771,125,926
2013 $874,548,148 $883,668,355 $77,000,578,167 $76,760,144,813
2014 $952,111,111 $950,623,606 $82,528,535,714 $81,655,890,647
2015 $957,222,222 $957,222,222 $85,090,301,052 $85,090,301,052
2016 $1,006,818,519 $994,866,931 $88,000,211,172 $89,390,445,685
2017 $1,056,977,778 $997,065,002 $94,369,350,286 $95,165,677,467
2018 $1,076,548,148 $1,017,041,453 $94,450,015,983 $97,364,084,799
2019 $1,107,855,556 $1,046,924,639 $88,998,706,297 $97,149,412,680
2020 $883,922,222 $886,725,391 $84,335,574,582 $92,656,723,482
2021 $858,622,222 $889,985,054 $88,556,698,938 $96,555,233,344
2022 $980,188,889 $982,030,905 $74,143,020,263 $89,459,202,881
2023 $1,056,751,852 $1,024,538,679 $83,716,142,582 $87,374,939,262
2024 $1,066,681,481 $1,036,489,311 $98,963,185,510 $91,751,304,717

Economic indicators

Saint Kitts Sri Lanka
Gross domestic product
$1.07B
2024
$99B
2024
GDP rank
188/197
2024
71/197
2024
GDP growth
0.94%
2023-2024
18.2%
2023-2024
GDP per capita
$22,771
2024
$4,516
2024
GDP per capita rank
55/197
2024
125/197
2024
GDP per capita, PPP
$35,545
2024
$15,633
2024
Government debt
$557M
2024
$98.4B
2024
Debt-to-GDP ratio
60.2%
2025
105.6%
2025
Government debt per person
$11,885
2024
$4,490
2024
Government debt per person rank
46/185
2024
86/185
2024
Average annual personal income after taxes
$13,293
2025
$2,982
2025
Market capitalization of domestic companies n/a
$19.5B
2024
Income share by richest 10% n/a
30.8%
2019
Income share by poorest 10% n/a
3.1%
2019
Government expenditure, % of GDP
41%
2025
20.2%
2025
Consumer prices inflation
1.7%
2024-2025
-0.43%
2023-2024
Central bank interest rate n/a
7.75%
2025
Unemployment rate
5.12%
2001
4.53%
2022
Population
46977
22125995

GDP per capita in Saint Kitts and Nevis vs Sri Lanka

Saint Kitts and Nevis' GDP per capita is $22,771, ranking 55/197, compared to $4,516 in Sri Lanka, ranking 125/197. Adjusted for purchasing power (GDP per capita PPP), Saint Kitts and Nevis ranks 63rd at $35,545, while Sri Lanka ranks 112th at $15,633.

Saint Kitts and Nevis
GDP per capita

GDP per capita, PPP
Sri Lanka
GDP per capita

GDP per capita, PPP
Year Current $
Saint Kitts Sri Lanka
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
1960 $221.6 - $145.9 -
1961 $225.6 - $145.9 -
1962 $230.3 - $141.4 -
1963 $240.1 - $119.4 -
1964 $256.4 - $122.9 -
1965 $265.8 - $155.6 -
1966 $290 - $156.6 -
1967 $344 - $162.3 -
1968 $309 - $153.5 -
1969 $347 - $163.6 -
1970 $365 - $186.9 -
1971 $444 - $188.8 -
1972 $521 - $199.4 -
1973 $551 - $220.2 -
1974 $721 - $268.7 -
1975 $765 - $279.8 -
1976 $692 - $260.3 -
1977 $1,026 - $292.1 -
1978 $1,144 - $191 -
1979 $1,367 - $230.8 -
1980 $1,598 - $271.1 -
1981 $1,894 - $292.5 -
1982 $2,023 - $312 -
1983 $2,052 - $336 -
1984 $2,341 - $391 -
1985 $2,651 - $385 -
1986 $3,140 - $407 -
1987 $3,573 - $420 -
1988 $4,206 - $434 -
1989 $4,723 - $430 -
1990 $5,373 $8,983 $491 $2,527
1991 $5,465 $9,131 $546 $2,713
1992 $5,947 $9,652 $580 $2,851
1993 $6,395 $10,418 $607 $3,067
1994 $7,065 $11,062 $678 $3,260
1995 $7,406 $11,747 $742 $3,454
1996 $7,788 $12,498 $776 $3,582
1997 $8,627 $13,409 $827 $3,804
1998 $8,711 $13,319 $849 $3,952
1999 $9,116 $13,754 $826 $4,103
2000 $9,320 $15,256 $846 $4,368
2001 $10,023 $16,235 $804 $4,328
2002 $10,454 $16,619 $835 $4,522
2003 $10,176 $16,226 $946 $4,850
2004 $10,945 $17,276 $1,029 $5,216
2005 $11,784 $19,500 $1,207 $5,679
2006 $13,838 $20,676 $1,390 $6,261
2007 $14,758 $21,301 $1,579 $6,820
2008 $16,605 $24,102 $1,974 $7,317
2009 $16,503 $23,385 $2,027 $7,576
2010 $16,623 $23,691 $2,808 $8,234
2011 $17,832 $24,550 $3,225 $9,076
2012 $17,532 $23,458 $3,328 $10,249
2013 $18,580 $24,624 $3,741 $11,253
2014 $20,219 $26,756 $3,972 $11,721
2015 $20,329 $26,877 $4,058 $12,227
2016 $21,388 $28,215 $4,149 $13,079
2017 $22,465 $29,579 $4,399 $13,610
2018 $22,901 $30,795 $4,359 $14,178
2019 $23,595 $32,482 $4,082 $14,113
2020 $18,859 $27,326 $3,848 $12,941
2021 $18,361 $26,897 $3,997 $14,316
2022 $20,985 $31,831 $3,343 $14,194
2023 $22,600 $34,368 $3,799 $14,456
2024 $22,771 $35,545 $4,516 $15,633

Spending and national debt comparison

In 2024, Saint Kitts and Nevis' government spending was $445M, accounting for 41% of its GDP, while Sri Lanka's spent $19.1B, or 20.2% of GDP.

Debt-to-GDP ratio is 60.2% in Saint Kitts and Nevis and 105.6% in Sri Lanka, ranking 79/185 and 18/185, respectively.

Saint Kitts and Nevis
Government spending

Government debt
Sri Lanka
Government spending

Government debt
Year % of GDP
Saint Kitts Sri Lanka
Government spending Government debt Government spending Government debt
1990 19.3% - 25.4% 78.9%
1991 18.2% - 26.4% 80.5%
1992 19.8% - 23% 77.9%
1993 21.3% - 23.2% 79.2%
1994 22.2% - 24.1% 77.9%
1995 23.7% - 24.8% 77.8%
1996 26.8% 50.7% 23.1% 76.2%
1997 26.3% 67.2% 21.4% 70.1%
1998 29.1% 79% 21.4% 74.2%
1999 33.6% 89.2% 20.5% 77.7%
2000 34.6% 96.5% 21.7% 79.2%
2001 30.9% 105.2% 22.4% 84.4%
2002 35.4% 119.7% 20.8% 96.3%
2003 30.9% 140.7% 19.3% 86.5%
2004 33.7% 153.1% 19.3% 86.5%
2005 34.7% 130.1% 20.1% 76.6%
2006 32.5% 140.3% 20.5% 74.3%
2007 32.2% 135.4% 19.9% 71.8%
2008 29.5% 123.4% 19.1% 68.8%
2009 30.4% 129.1% 21% 72.8%
2010 31.2% 134.9% 19.3% 68.7%
2011 30.3% 127.1% 19.1% 69.4%
2012 27.2% 121.4% 17.3% 67.5%
2013 28.6% 91.5% 16.6% 69.5%
2014 28% 69.3% 17.2% 69.6%
2015 29.1% 62.2% 19.3% 76.3%
2016 26% 57.4% 18.2% 75%
2017 25.5% 53.3% 17.9% 72.3%
2018 33.8% 53.9% 17.5% 83.6%
2019 37.3% 54.3% 19.5% 82.6%
2020 36.5% 68% 22.1% 96.9%
2021 41.2% 69.1% 20% 102.7%
2022 49.4% 60.2% 18.6% 115.9%
2023 43.3% 55.9% 19.5% 110.4%
2024 41.7% 52.2% 19.3% 99.4%
2025 41% 60.2% 20.2% 105.6%

Government deficit by year

In 2024, Saint Kitts and Nevis' government deficit, the difference between spending and revenue, was -$113M, equivalent to -10.6% of GDP. This compares to Sri Lanka's deficit of -$5.58B, or -5.64% of GDP.

Over the past 35 years, Saint Kitts and Nevis recorded a fiscal deficit in 20 of those years, while Sri Lanka ran a deficit in 35 years. On average, Saint Kitts and Nevis posted an annual deficit equal to -1.51% of GDP, compared to deficit of -6.85% of GDP for Sri Lanka.

Deficit/surplus
Saint Kitts and Nevis

Sri Lanka
Year Deficit/surplus, % of GDP
Saint Kitts Sri Lanka
1990 0.62% -6.39%
1991 0.92% -7.97%
1992 0.5% -4.95%
1993 0.24% -5.77%
1994 0.79% -7.41%
1995 0.9% -7.11%
1996 -2.27% -6.89%
1997 -2.33% -5.71%
1998 -5.13% -6.79%
1999 -11.1% -5.58%
2000 -13.3% -7.78%
2001 -10.9% -8.48%
2002 -11.7% -6.9%
2003 -5.66% -6.15%
2004 -6.6% -6.32%
2005 -3.45% -5.93%
2006 -1.37% -5.91%
2007 -1.03% -5.81%
2008 -1.57% -5.93%
2009 -1.23% -8.33%
2010 -4.15% -6.73%
2011 1.6% -6.01%
2012 4.32% -5.44%
2013 10.9% -5%
2014 8.52% -5.99%
2015 5.66% -6.64%
2016 3.76% -5%
2017 1.68% -5.1%
2018 1.8% -4.96%
2019 -0.7% -7.52%
2020 -3.06% -13.4%
2021 5.41% -11.7%
2022 -4.15% -10.2%
2023 -0.28% -8.32%
2024 -10.6% -5.64%
2025 -8.54% -5.49%

Inflation comparison by year

Over the past 29 years, Saint Kitts and Nevis has recorded an average annual inflation rate of 2.24%, compared with 9.57% in Sri Lanka. In 2024, inflation was 1.7% in Saint Kitts and Nevis and -0.43% in Sri Lanka.

Inflation
Saint Kitts and Nevis

Sri Lanka
Year Inflation
Saint Kitts Sri Lanka Saint Kitts Sri Lanka
1996 2% 15.9%
1997 8.7% 9.57%
1998 3.7% 9.36%
1999 3.4% 4.69%
2000 2.1% 6.18%
2001 2.1% 14.2%
2002 2.1% 9.55%
2003 2.3% 6.31%
2004 2.2% 7.58%
2005 3.4% 11.6%
2006 8.5% 10%
2007 4.5% 15.8%
2008 5.3% 22.6%
2009 2.1% 3.46%
2010 0.9% 6.22%
2011 5.8% 6.72%
2012 0.8% 7.54%
2013 1.1% 6.91%
2014 0.2% 3.18%
2015 -2.3% 3.77%
2016 -0.7% 3.96%
2017 0.7% 7.7%
2018 -1% 2.14%
2019 -0.3% 3.53%
2020 -1.2% 6.15%
2021 1.2% 7.01%
2022 2.7% 49.7%
2023 3.6% 16.5%
2024 1% -0.43%
2025 1.7% -

Top exports between countries

Saint Kitts
Export category Export value
Sri Lanka
Export category Export value
Raw materials & minerals $240K
Chemicals & pharma $1K
Machinery & equipment $1K

Balance of trade

Saint Kitts Sri Lanka
Current account balance
-$169M
2024
$1.56B
2023
Current account balance ranking
94/189
2024
50/189
2023
Current account balance, % of GDP
-15.9%
2024
+1.86%
2023
Goods imports
$404M
2024
$16.8B
2023
Goods exports
$33.7M
2024
$11.9B
2023
Service imports
$239M
2024
$2.01B
2023
Service exports
$471M
2024
$5.42B
2023
Imports of goods and services, % of GDP n/a
22.5%
2024
Exports of goods and services, % of GDP
11%
2025
19.9%
2024

Economic freedom indices

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

Saint Kitts Sri Lanka
Economic freedom 62 49.4
Economic freedom ranking 85/197 164/197
Property rights n/a 51.3
Government integrity n/a 37.4
Judicial effectiveness n/a 47.4
Tax burden n/a 77.5
Government spending n/a 88.8
Fiscal health n/a 0
Business freedom n/a 55.8
Labor freedom n/a 54.6
Monetary freedom n/a 54.5
Trade freedom n/a 65
Investment freedom n/a 30
Financial freedom n/a 30

More economic indicators

Saint Kitts Sri Lanka
Services, % of GDP
65.5%
2024
57.5%
2024
Industry, % of GDP
21.1%
2024
25.5%
2024
Agriculture, forestry, and fishing, % of GDP
1.3%
2024
8.3%
2024
GNI, Atlas method
$1.04B
2024
$84.6B
2024
GNI per capita, PPP
$35,130
2024
$15,240
2024
Total reserves including gold
$295M
2024
$6.09B
2024
Total reserves ranking
168/177
2024
92/177
2024
Net foreign direct investment
-$19.5M
2024
-$678M
2023
Net inflows of foreign direct investment
$21.9M
2024
$761M
2024
Net outflows of foreign direct investment
$2.4M
2024
$110M
2024
Servicing debt to the IMF, % of GNI
n/a
3.48%
2023
Poverty at national poverty lines n/a
14.3%
2019
Gross capital formation, % of GDP
n/a
27%
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.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.