Sugar, which was the Federation's largest export and major income earner, has recently been
closed as the economic mainstay. The Government's aggressive diversification program has brought tourism, light manufacturing and international financial activities to the fore. Gross domestic product at factor cost in constant (1990) prices for the Federation is as follows: (Date: April 2002. Source: St. Kitts Statistics Division / Eastern Caribbean Central Bank)
GDP: XCD 549 million (2000)
GDP growth rate: 5.53% (2000)
The Government of St. Kitts and Nevis wishes to promote the islands as a regional and international financial centre. Accordingly it actively encourages financial activities and is making a deliberate effort to maintain the Federation's present attractiveness. Financial operations are viewed as a principal economic sector with the Government constantly reviewing new ideas and improving financial legislation.
St. Kitts and Nevis ranked 39th worldwide in the
2004 Human Development Report. The report measures
achievements in terms of life expectancy,
educational attainment and adjusted real income.