September 2018 records worst decline in the value of goods and services exported to the US in 17 years
St Kitts and Nevis recorded its worst decline in 17 years for the month of September in the value of goods and services exported to the United States.
Further decline in exports to the United States market is anticipated in 2019 with the closure on March 1, 2019 of the U.S.-owned Lutron Liamuiga on the C A Paul Southwell Industrial Park in Basseterre. Over 100 persons, most of them single mothers who are heads of households, lost their jobs when the plant closed.
The plant which operated for 31 years assembled dimmer switches and fan speed controls for export to the United States.
St. Kitts and Nevis companies exporting to the United States and their products are Harowe Servo (St. Kitts) Ltd (small motors, PC board assemblies, rotor assemblies and resolvers); Kajola-Kristada (connectors, filters, trap and surface mounts; for the Cable TV and communications industry); CSR/DDL (CSR rum/brandy and Brinley flavoured rum products); Jaro Electronics (industrial motors and transformers) and Caribelle Batik, whose products are mostly purchased by cruise passengers and stayover visitors.
According to foreign trade statistics issued by the US Census Bureau, goods and services exported to the United States in September 2018 were valued at US$2.8 million (EC$7.56 million), the lowest since 2001.
The US Government website indicates the value of goods and services exported from St Kitts and Nevis to the United States peaked at 2012 – US$4.6 million. The years 2001 and 2018 – US$2.8 million (EC$7.56 million); 2001 – US$2.7 million (EC$7.29 million) – had the lowest output.