St. Lucia: New businesses registered (number)

Key figures

What the numbers say

In 2024, St. Lucia's new businesses registered (number) fell 62.5% on 2023 (from 371 to 139).

Across the 17 yearly changes before that (2007 to 2023), the average change was +2.1% and a typical year strayed about 28.6% from that (the standard deviation). This year's change was 2.3 standard deviations below that average, so it was unusually large compared with the rest of the record.

On record, the biggest yearly rise was 78.3% in 2018 and the biggest yearly fall was 62.5% 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 15% 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. Lucia had the 126th 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. Lucia in the 2024 ranking

• Dominica — 123rd of 127: 171
• Liberia — 124th of 127: 167
• Brunei Darussalam — 125th of 127: 157
• Tonga — 127th of 127: 42

What this measures

New businesses registered are the number of new limited liability corporations (or its equivalent) registered in the 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.

All 19 values

New businesses registered (number) in nearby economies

• Antigua and Barbuda — 275 (2024)
• Argentina — 15,818 (2024)
• Barbados — 1,517 (2024)
• Belize — 3,710 (2024)
• Brazil — 979,211 (2024)
• Cayman Islands — 11,197 (2024)
• Chile — 123,159 (2023)
• Colombia — 82,208 (2024)
• Costa Rica — 22,333 (2024)
• Dominica — 171 (2024)
• Ecuador — 19,317 (2024)

More private sector & trade data for St. Lucia

• Merchandise imports (current US$) — US$1.01 billion (2025)
• Merchandise exports (current US$) — US$85 million (2025)
• Insurance and financial services (% of commercial service imports) — 7.41% (2025)
• Computer, communications and other services (% of commercial service imports) — 53.63% (2025)
• Commercial service imports (current US$) — US$671.73 million (2025)
• Transport services (% of commercial service imports) — 24.04% (2025)
• Travel services (% of commercial service imports) — 14.92% (2025)
• Computer, communications and other services (% of commercial service exports) — 4.75% (2025)
• Commercial service exports (current US$)

Reading data like this

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Questions people ask

What is St. Lucia's new businesses registered (number)?

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

How has it changed since 2006?

It is down 71.46% from 487 in 2006 (6.73% a year on average, compounded). The highest value was 595 in 2009 and the lowest 139 in 2024.

How does St. Lucia rank?

126th highest of 127 economies with data for 2024.

Is the latest change in new businesses registered (number) unusual for St. Lucia?

In 2024, St. Lucia's new businesses registered (number) fell 62.5% on 2023 (from 371 to 139). Across the 17 yearly changes before that (2007 to 2023), the average change was +2.1% and a typical year strayed about 28.6% from that (the standard deviation). This year's change was 2.3 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.NREG, 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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