St. Kitts and Nevis: New business density (new registrations per 1,000 people ages 15-64)

Key figures

What the numbers say

In 2024, St. Kitts and Nevis' new business density (new registrations per 1,000 people ages 15-64) fell 9.91 on 2023 (from 28.63 to 18.72).

Across the 17 yearly changes before that (2007 to 2023), the average change was +0.94 and a typical year strayed about 5.07 from that (the standard deviation). This year's change was 2.1 standard deviations below that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 16.37 in 2016 and the biggest yearly fall was 9.91 in 2024. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 there is no clear straight-line trend: a straight line explains 29% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, St. Kitts and Nevis had the 9th highest value of the 127 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to St. Kitts and Nevis in the 2024 ranking

• Cabo Verde — 5th of 127: 21.76
• Luxembourg — 6th of 127: 19.61
• United Kingdom — 7th of 127: 19.19
• Australia — 9th of 127: 18.06
• Montenegro — 10th of 127: 17.86
• New Zealand — 11th of 127: 16.05

What this measures

The number of newly registered firms with limited liability per 1,000 working-age people (ages 15-64) per calendar year.

Limitations: The definition of entrepreneurship used is limited to the formal sector. Yet, it should be noted that the exclusion of the informal sector is based on the difficulties of quantifying the number of firms that compose it, rather than on its relevance for developing economies. Data collected from economies categorized as offshore financial centers by Eurostat are excluded from the analysis, because registered entities in these countries may not fit the objective of the Entrepreneurship Database aiming at measuring formally registered companies with actual economic activities.

Regional and income-group figures are computed by the World Bank as a unweighted average.

All 19 values

New business density (new registrations per 1,000 people ages 15-64) in nearby economies

• Antigua and Barbuda — 4.16 (2024)
• Argentina — 0.52 (2024)
• Barbados — 8.11 (2024)
• Belize — 13.01 (2024)
• Brazil — 6.67 (2024)
• Cayman Islands — 201.01 (2024)
• Chile — 9.09 (2023)
• Colombia — 2.22 (2024)
• Costa Rica

More private sector & trade data for St. Kitts and Nevis

• Merchandise trade (% of GDP) — 37.52% (2025)
• Merchandise imports (current US$) — US$410 million (2025)
• Merchandise exports (current US$) — US$34 million (2025)
• Insurance and financial services (% of commercial service imports) — 18.53% (2025)
• Computer, communications and other services (% of commercial service imports) — 37.19% (2025)
• Commercial service imports (current US$) — US$256.5 million (2025)
• Transport services (% of commercial service imports) — 26.33% (2025)
• Travel services (% of commercial service imports) — 17.95% (2025)

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Questions people ask

What is St. Kitts and Nevis's new business density (new registrations per 1,000 people ages 15-64)?

18.72 in 2024, according to the World Bank (World Development Indicators).

How has it changed since 2006?

It is up 48.21% from 12.63 in 2006 (2.21% a year on average, compounded). The highest value was 28.63 in 2023 and the lowest 5.99 in 2011.

How does St. Kitts and Nevis rank?

9th highest of 127 economies with data for 2024.

Is the latest change in new business density (new registrations per 1,000 people ages 15-64) unusual for St. Kitts and Nevis?

In 2024, St. Kitts and Nevis' new business density (new registrations per 1,000 people ages 15-64) fell 9.91 on 2023 (from 28.63 to 18.72). Across the 17 yearly changes before that (2007 to 2023), the average change was +0.94 and a typical year strayed about 5.07 from that (the standard deviation). This year's change was 2.1 standard deviations below that average, so it was unusually large compared with the rest of the record.

Source

World Bank, World Development Indicators, indicator IC.BUS.NDNS.ZS, licensed CC BY 4.0. Original source: Entrepreneurship Database, World Bank (WB), uri: https://www.worldbank.org/en/programs/entrepreneurship Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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