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Dominica Economy 2018

SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES











Dominica Economy 2018
SOURCE: 2018 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 28, 2018

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. Moreover, Dominica has an offshore medical education sector. In order to diversify the island's economy, the government is also attempting to foster an offshore financial industry and plans to sign agreements with the private sector to develop geothermal energy resources. In 2003, the government began a comprehensive restructuring of the economy - including the 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. In 2009 and 2013, the economy contracted as a result of the global recession; growth remains anemic. Although public debt levels continue to exceed pre-recession levels, the debt burden declined from 78% of GDP in 2011 to approximately 70% in 2012.

GDP (purchasing power parity):
$851 million (2017 est.) $818.8 million (2016 est.) $797.7 million (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 206

GDP (official exchange rate):
$608 million (2016 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
3.9% (2017 est.) 2.6% (2016 est.) -2.5% (2015 est.)
country comparison to the world: 77
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$12,000 (2017 est.) $11,500 (2016 est.) $11,200 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 130

Gross national saving:
16.7% of GDP (2017 est.) 20.4% of GDP (2016 est.) 14.6% of GDP (2015 est.)
country comparison to the world: 111
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 72.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 23%
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 12.7%
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0%
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 40.9%
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -49.4% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 15.3%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 13.6%
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 71.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
bananas, citrus, mangos, root crops, coconuts, cocoa
note: forest and fishery potential not exploited

Industries:
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes

Industrial production growth rate:
3% (2017 est.)
country comparison to the world: 100
[see also: Industrial production growth rate country ranks ]

Labor force:
25,000 (2000 est.)
country comparison to the world: 209
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 40%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 32%
[see also: Labor force - by occupation - industry country ranks ]
services: 28% (2002 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
23% (2000 est.)
country comparison to the world: 190
[see also: Unemployment rate country ranks ]

Population below poverty line:
29% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA%

Budget:
revenues: $148.1 million
[see also: Budget - revenues country ranks ]
expenditures: $148.1 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
24.4% of GDP (2017 est.)
country comparison to the world: 118
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
0% of GDP (2017 est.)
country comparison to the world: 32
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
81% of GDP (2016 est.) 83% of GDP (2015 est.)
country comparison to the world: 38
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
0.6% (2017 est.) 0% (2016 est.)
country comparison to the world: 21
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010) 6.5% (31 December 2009)
country comparison to the world: 56
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.1% (31 December 2017 est.) 8.33% (31 December 2016 est.)
country comparison to the world: 108
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$116.2 million (31 December 2017 est.) $112 million (31 December 2016 est.)
country comparison to the world: 189
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$535.2 million (31 December 2017 est.) $509.7 million (31 December 2016 est.)
country comparison to the world: 184
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$222.2 million (31 December 2017 est.) $195.9 million (31 December 2016 est.)
country comparison to the world: 183
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$38 million (2017 est.) $5 million (2016 est.)
country comparison to the world: 67
[see also: Current account balance country ranks ]

Exports:
$47.4 million (2017 est.) $43.7 million (2016 est.)
country comparison to the world: 204
[see also: Exports country ranks ]

Exports - commodities:
bananas, soap, bay oil, vegetables, grapefruit, oranges

Exports - partners:
Trinidad and Tobago 15.4%, Jamaica 13.3%, Saudi Arabia 13%, St. Kitts and Nevis 11.8%, Guyana 9.3%, Barbados 5.1%, US 5.1%, Antigua and Barbuda 4.5%, Egypt 4.1% (2016)

Imports:
$198 million (2017 est.) $186.4 million (2016 est.)
country comparison to the world: 203
[see also: Imports country ranks ]

Imports - commodities:
manufactured goods, machinery and equipment, food, chemicals

Imports - partners:
US 23.4%, Trinidad and Tobago 18.1%, Italy 8.7%, UK 5.4% (2016)

Reserves of foreign exchange and gold:
$150 million (31 December 2017 est.) $221.9 million (31 December 2016 est.)
country comparison to the world: 163
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$288.6 million (31 December 2016 est.) $314.2 million (31 December 2015 est.)
country comparison to the world: 187
[see also: Debt - external country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar - 2.7 (2017 est.) 2.7 (2016 est.) 2.7 (2015 est.) 2.7 (2014 est.) 2.7 (2013 est.)


NOTE: 1) The information regarding Dominica on this page is re-published from the 2018 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 2018 information contained here. All suggestions for corrections of any errors about Dominica Economy 2018 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) The assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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