Economy - overview:
The Dominican economy has been dependent on agriculture - primarily bananas - in years past, but increasingly has been driven by tourism as the government seeks to promote Dominica as an "ecotourism" destination. In order to diversify the island's production base, the government also is attempting to develop an offshore financial sector and has signed an agreement with the EU to develop geothermal energy resources. In 2003, the government began a comprehensive restructuring of the economy - including elimination of price controls, privatization of the state banana company, and tax increases - to address an economic and financial crisis and to meet IMF requirements. This restructuring paved the way for an economic recovery - real growth for 2006 reached a two-decade high - and helped to reduce the debt burden, which remains at about 85% of GDP. Hurricane Dean struck the island in August 2007 causing damages equivalent to 20% of GDP. In 2009, growth slowed as a result of the global recession; it picked up only slightly in 2010.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Budget: Public debt: Inflation rate (consumer prices): Central bank discount rate: Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Debt - external: Exchange rates:
NOTE: The information regarding Dominica on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 2011 information contained here. All suggestions for corrections of any errors about Dominica Economy 2011 should be addressed to the CIA.
$765.4 million (2010 est.)
country comparison to the world: 210
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$375 million (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
1.4% (2010 est.)
country comparison to the world: 173
[see also: GDP - real growth rate country ranks ]
$10,500 (2010 est.)
country comparison to the world: 108
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 17.7%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
32.8%
[see also: GDP - composition by sector - industry country ranks ]
services:
49.5% (2004 est.)
[see also: GDP - composition by sector - services country ranks ]
25,000 (2000 est.)
country comparison to the world: 207
[see also: Labor force country ranks ]
agriculture: 40%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
32%
[see also: Labor force - by occupation - industry country ranks ]
services:
28% (2000 est.)
[see also: Labor force - by occupation - services country ranks ]
23% (2000 est.)
country comparison to the world: 173
[see also: Unemployment rate country ranks ]
30% (2002 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
NA%
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
revenues: $343 million
[see also: Budget - revenues country ranks ]
expenditures:
$277 million (2001)
[see also: Budget - expenditures country ranks ]
78% of GDP (2009 est.)
country comparison to the world: 18
[see also: Public debt country ranks ]
0.1% (2009 est.)
country comparison to the world: 9
[see also: Inflation rate (consumer prices) country ranks ]
6.5% (31 December 2009)
country comparison to the world: 61
[see also: Central bank discount rate country ranks ]
10.02% (31 December 2009 est.)
country comparison to the world: 103
[see also: Commercial bank prime lending rate country ranks ]
$74.84 million (31 December 2009)
[see also: Stock of narrow money country ranks ]
$398.5 million (31 December 2009)
[see also: Stock of broad money country ranks ]
$213.6 million (31 December 2008 est.)
country comparison to the world: 175
[see also: Stock of domestic credit country ranks ]
bananas, citrus, mangos, root crops, coconuts, cocoa
note:
forest and fishery potential not exploited
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
NA%
[see also: Industrial production growth rate country ranks ]
85 million kWh (2007 est.)
country comparison to the world: 194
[see also: Electricity - production country ranks ]
79.05 million kWh (2007 est.)
country comparison to the world: 194
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2009 est.)
country comparison to the world: 182
[see also: Oil - production country ranks ]
1,000 bbl/day (2009 est.)
country comparison to the world: 202
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 201
[see also: Oil - exports country ranks ]
838 bbl/day (2007 est.)
country comparison to the world: 190
[see also: Oil - imports country ranks ]
0 bbl (1 January 2010 est.)
country comparison to the world: 187
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 179
[see also: Natural gas - production country ranks ]
0 cu m (2008 est.)
country comparison to the world: 191
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 65
[see also: Natural gas - exports country ranks ]
0 cu m (2008 est.)
country comparison to the world: 89
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 187
[see also: Natural gas - proved reserves country ranks ]
-$72 million (2007 est.)
country comparison to the world: 72
[see also: Current account balance country ranks ]
$94 million (2006)
country comparison to the world: 195
[see also: Exports country ranks ]
bananas, soap, bay oil, vegetables, grapefruit, oranges
Japan 28.62%, UK 19.81%, Antigua and Barbuda 7.7%, Guyana 6.52%, Jamaica 5.4%, Trinidad and Tobago 4.2% (2009)
$296 million (2006)
country comparison to the world: 197
[see also: Imports country ranks ]
manufactured goods, machinery and equipment, food, chemicals
Japan 31.29%, US 19.73%, Trinidad and Tobago 11.8%, China 11.58% (2009)
$213 million (2004)
country comparison to the world: 175
[see also: Debt - external country ranks ]
East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
This page was last modified 09-Feb-11