St. Kitts and Nevis - GDP (current US$)

The latest value for GDP (current US$) in St. Kitts and Nevis was $1,010,822,000 as of 2018. Over the past 58 years, the value for this indicator has fluctuated between $1,010,822,000 in 2018 and $12,366,560 in 1960.

Definition: GDP at purchaser's prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of the products. It is calculated without making deductions for depreciation of fabricated assets or for depletion and degradation of natural resources. Data are in current U.S. dollars. Dollar figures for GDP are converted from domestic currencies using single year official exchange rates. For a few countries where the official exchange rate does not reflect the rate effectively applied to actual foreign exchange transactions, an alternative conversion factor is used.

Source: World Bank national accounts data, and OECD National Accounts data files.

See also:

Year Value
1960 $12,366,560
1961 $12,483,230
1962 $12,541,560
1963 $12,833,230
1964 $13,416,560
1965 $13,593,930
1966 $14,469,080
1967 $16,742,340
1968 $14,600,000
1969 $15,850,000
1970 $16,300,000
1971 $19,624,750
1972 $22,944,850
1973 $24,196,020
1974 $31,514,860
1975 $33,364,060
1976 $30,095,600
1977 $44,496,740
1978 $49,433,940
1979 $58,840,660
1980 $68,459,220
1981 $80,890,210
1982 $86,021,800
1983 $86,875,570
1984 $98,603,930
1985 $111,009,000
1986 $130,684,600
1987 $147,748,800
1988 $172,692,200
1989 $192,517,300
1990 $217,258,900
1991 $220,539,500
1992 $242,135,400
1993 $263,754,700
1994 $295,157,700
1995 $313,483,400
1996 $333,946,100
1997 $374,640,300
1998 $383,257,200
1999 $406,597,100
2000 $433,520,500
2001 $475,443,700
2002 $497,329,000
2003 $486,344,400
2004 $529,250,400
2005 $577,730,900
2006 $657,227,400
2007 $723,938,700
2008 $793,368,400
2009 $767,066,400
2010 $760,170,400
2011 $817,759,200
2012 $800,414,800
2013 $839,774,100
2014 $916,566,700
2015 $923,155,600
2016 $971,166,700
2017 $996,944,400
2018 $1,010,822,000

Limitations and Exceptions: Gross domestic product (GDP), though widely tracked, may not always be the most relevant summary of aggregated economic performance for all economies, especially when production occurs at the expense of consuming capital stock. While GDP estimates based on the production approach are generally more reliable than estimates compiled from the income or expenditure side, different countries use different definitions, methods, and reporting standards. World Bank staff review the quality of national accounts data and sometimes make adjustments to improve consistency with international guidelines. Nevertheless, significant discrepancies remain between international standards and actual practice. Many statistical offices, especially those in developing countries, face severe limitations in the resources, time, training, and budgets required to produce reliable and comprehensive series of national accounts statistics. Among the difficulties faced by compilers of national accounts is the extent of unreported economic activity in the informal or secondary economy. In developing countries a large share of agricultural output is either not exchanged (because it is consumed within the household) or not exchanged for money.

Statistical Concept and Methodology: Gross domestic product (GDP) represents the sum of value added by all its producers. Value added is the value of the gross output of producers less the value of intermediate goods and services consumed in production, before accounting for consumption of fixed capital in production. The United Nations System of National Accounts calls for value added to be valued at either basic prices (excluding net taxes on products) or producer prices (including net taxes on products paid by producers but excluding sales or value added taxes). Both valuations exclude transport charges that are invoiced separately by producers. Total GDP is measured at purchaser prices. Value added by industry is normally measured at basic prices.

Aggregation method: Gap-filled total

Periodicity: Annual

Classification

Topic: Economic Policy & Debt Indicators

Sub-Topic: National accounts