June 2020 Economic and Financial Review

June 2020 Economic and Financial Review SAINT CHRISTOPHER (ST KITTS) AND NEVIS

Craddock Road and Brownhill Road

affected by lockdown and curfew

rehabilitation projects in Nevis.

restrictions, as well as a general decline in

global demand. Likewise, the agricultural

Activity in the tourism industry plummeted

sector was impacted by similar challenges

in January to June 2020, relative to the same

but benefited from increased public

period last year, chiefly on account of the

investment as the government sought to

closure

of

borders

on

enhance food security within the Federation.

25 March 2020. Borders remained closed

Deflationary pressures persisted in the

for the remainder of the first half of 2020.

first half of 2020, associated with declines

The total number of visitor arrivals is

in the prices of transport and food and non-

estimated to have decreased by 58.6 per cent

alcoholic beverages . The consumer price

to 304,366, reflecting a decline in stay-over

index was estimated to have decreased by

visitors from all source markets, cruise ship

1.4 per cent, compared with a decline of

passengers,

yacht

passengers

and

0.9 per cent during the corresponding period

excursionists.

of the prior year.

St Kitts & Nevis Visitor Arrivals

Thousands

St Kitts & Nevis Consumer Price Index Percentage Change

100.0 150.0 200.0 250.0 300.0 350.0 400.0 450.0 500.0 550.0

%

0.0 0.5 1.0 1.5

-2.5 -2.0 -1.5 -1.0 -0.5

0.0 50.0

18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2

Stay-overs Cruise Ship Passengers

Yacht Passengers Excursionists

18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2

All Items Food & Non-Alchoholic Beverages Energy

Note: Energy includes Housing, Utilities, Gas & Fuels

In the manufacturing sector, production is

estimated to have declined, also temporarily

40