2020 Annual Economic and Financial Review

2020 Annual Economic and Financial Review

ST CHRISTOPHER (ST KITTS) AND NEVIS

ST CHRISTOPHER (ST KITTS) AND NEVIS

Overview

St Kitts &Nevis Selected Economic Indicators Annual Percentage Change

0.0 2.0 4.0 6.0 8.0

Preliminary data point to an unmatched contraction of 10.7 per cent in the economy of Saint Christopher (St Kitts) and Nevis in 2020, due to the COVID-19 pandemic. Economic activity is forecasted to rebound partially in 2021 as approved vaccines are distributed worldwide. New variants of the virus, and adverse weather however pose significant downside risks.

(8.0) (6.0) (4.0) (2.0)

(14.0) (12.0) (10.0)

2016

2017

2018

2019

2020

Real GDP

Nominal GDP

Consumer Price Index

Real Sector Developments

The economy of St Christopher (St Kitts) and Nevis is estimated to have suffered its steepest downturn in 2020 since records began. Preliminary estimates indicate that economic activity contracted by 10.7 per cent, following growth of 2.1 per cent in 2019. This development was a result of the COVID-19 pandemic, associated

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