Economic and Financial Review - June 2019

June 2019 Economic and Financial Review SAINT CHRISTOPHER (ST KITTS) AND NEVIS

production reflected an upsurge in the yield of crops such as sweet potatoes, carrots, watermelon and squash. Livestock and chicken production however decreased, moderating the estimated growth in agricultural output. The observed decline in livestock productivity was partially associated with disease outbreaks, which mainly afflicted cattle, sheep and goats, during the period under review. The consumer price index fell by 0.9 per cent in the first two quarters of 2019, compared with a 1.3 per cent decrease in the corresponding period of the previous year. The deflationary pressures were largely attributed to a decline in the prices of transport (6.0 per cent); household furnishings, supplies and maintenance (1.5 per cent); alcoholic beverages, tobacco and narcotics (0.8 per cent) and clothing and footwear (0.3 per cent). The fall in the general price level was however moderated by an increase in the price of recreation and culture (4.9 per cent) and food and non- alcoholic beverages (0.9 per cent).

increased by 0.3 per cent to 734,183 during the period under review.

St Kitts & Nevis Visitor Arrivals

Thousands

100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 550.0

0.0 50.0

17 Q1

17 Q2

17 Q3

17 Q4

18 Q1

18 Q2

18 Q3

18 Q4

19 Q1

19 Q2

Stay-overs Cruise Ship Passengers

Yacht Passengers Excursionists

Activity in the manufacturing sector, proxied by exports, is estimated to have expanded during the first two quarters of 2019. More specifically, the export of manufactured goods increased by 26.7 per cent to $85.3m. A decline of 27.4 per cent in the export of alcoholic beverages is however likely to have weighed on the estimated increase in manufacturing activity. Output in the agricultural sector is provisionally estimated to have increased during the period under review. Total crops produced rose by 59.0 per cent, relative to the same period last year, as production returned to normal levels following the passage of hurricanes Irma and Maria in the latter half of 2017. The increase in

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Eastern Caribbean Central Bank