Annual Economic and Financial Review -December 2018

2018 Annual Economic and Financial Review ST KITTS AND NEVIS

the Alexander hospital. Construction developments in the private sector were underscored by ongoing work on the Ramada branded Heldens Estate Condo Resort & Residences in the north of St Kitts, the T-Loft Pirates Nest in Frigate Bay to be managed by Radisson and the Royal Mist Hotel at Sea View Gardens. Other private sector led activity included the completion of a headquarters renovation and a hotel, both in Basseterre, along with other private fixed capital investment for commercial and residential purposes. In Nevis, private sector developments included continued work on the Four Seasons Resort Estates and villas and residences. Value added in the manufacturing sector rebounded by 3.0 per cent in contrast to a decline of 6.5 per cent in 2017, driven by increases in the production of electronics and beverages. An increase in the production of electronic components is estimated, based on data for actual exports. The export of electronic components rose by a 5.6 per cent which compares favourably with the performance in 2017 when there was virtually no growth. The positive assessment of developments in the manufacturing sector was also buttressed by estimated increases in the output of alcoholic beverages of which the

volume of exports rose by 71.6 per cent compared with an increase of 0.1 per cent in 2017. In addition, the performance of beverages was also supplemented by an increased in the production of non-alcoholic beverages for which exports resumed in 2018 after recording no exports during the prior four years. Value added in the agriculture, livestock and forestry sector remained relatively stable increasing by an estimated 0.2 per cent, compared with a rebound of 11.4 per cent in 2017. The performance in the current period reflected increases in livestock largely chicken, moderated by declines in crops. In the livestock sub-sector, output is estimated to have expanded, largely influenced by a near doubling in the output of broilers and a 1.0 per cent rise in egg production. Output in the livestock sub-sector was also augmented by higher beef production (5.8 per cent). The performance was moderated somewhat by a 14.5 per cent decline in the production of pork. The level of crop production was also lower, largely reflected in decreases in the output of sweet pepper, carrots and onions of 47.3 per cent 46.8 per cent and 69.9per cent respectively. Decreases were also recorded for sweet potato (13.6 per cent) and yam

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