LYCOS RETRIEVER
Saint Kitts and Nevis
built 288 days ago
During the 1990s, Saint Kitts and Nevis registered an annual GDP growth of 5.5 percent, but the strong growth was interrupted by devastating hurricanes in 1998 and 1999. Post-hurricane reconstruction led to an economic resumption in 2000 with GDP growing 6.2 percent. The year 2001 began well enough although the post-hurricane construction boom was over and growth was slowing from its 2000 rate. But after September 11, tourism arrivals dropped off precipitously and activity in related sectors of the economy such as road construction and retail sales declined along with tourism. As a result, the GDP growth declined substantially in 2001 and 2002. Economic activity has recovered since 2003, mainly driven by strong growth in tourism.
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The capital city and headquarters of government for the federated state is on the larger island of Saint Kitts. Kit, or Kitt, is an old-fashioned abbreviation for the name Christopher. This island was given the name by Christopher Columbus; the Spanish version was "San Cristóbal".
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The agricultural sector of The Federation of Saint Kitts and Nevis continues to make a significant contribution to the national economy. Agricultural exports account for approximately 50 percent of the merchandise exports and industry employs 20 percent of the labour force. The performance of certain crops and livestock, forestry and fisheries has experienced growth potential with an increase of 5 percent in 1995. This performance is an indication of the Government's strong commitment to the process of agricultural diversification.
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The Federation of Saint Kitts and Nevis (... known as the Federation of Saint Christopher and Nevis[1]), located in the Leeward Islands, is a federal two-island nation in the West Indies. It is the smallest nation in the Americas in both area and population.
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Taxpayers in Saint Kitts and Nevis breathed a sigh of relief in February 2005 when Prime Minister and Minister of Finance Denzil Douglas decided not to reintroduce personal income tax in the national budget. Fuel prices... were increased in light of rising world oil costs.
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Saint Kitts and Nevis had a population growth rate of 6.2%. In June 2000, the estimated population was 40,410, males (50.5%) and females (49.5%). The dependency ratio was 65%. Forty percent of the population was under 20 years of age and 11% were older than 60 years. There were 4,275 births during 1996-2000. The average crude birth rate, 1996-2000 was 21 per 1,000 population.
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