- July 12, 2013
- |Priority Sector
The manufacturing sector is a major pillar of the St. Kitts economy. It has been a consistent contributor to the domestic economy and the overall development of St. Kitts and Nevi over the last 30 years. The sector contributes approximately 8 -10 % of Gross Domestic Product (GDP) and sustains over 2000 jobs or 8.54 % of the country’s workforce.
St. Kitts is the leading exporter in the Organization of Eastern Caribbean States (OECS).
St. Kitts possesses considerable strengths that make the island attractive for manufacturing. These include:
- Stable political, social, economical and business environment
- Business incentives and fiscal exemptions for local and foreign investors
- Low cost producers relative to the USA and other developed countries
- Free Trade Agreements and international initiatives to facilitate free movement of goods, such as the Caribbean Single Market and Economy (CSME) and the Caribbean Basin Initiative
- Trainable and experienced manufacturing human resource base
- Adequate infrastructure such as airports, seaports, roads, telecommunication services, utilities and financial services
- Proximity to the USA, South America, Central America and Caribbean Markets
- Diverse air and sea transportation services