header HomePlacesMapsMap Products & ServicesHotels & TravelDestination GuidesWeb DirectoryContact

Dominica:
Economy

Flag of Dominica
Click to enlarge

Dominica Page


Economy - overview
Definition
The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Tourism has increased as the government seeks to promote Dominica as an "ecotourism" destination. 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 Dominica's economic and financial crisis of 2001-02 and to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for 2006 reached a two-decade high - and will help to reduce the debt burden, which remains at about 100% of GDP. In order to diversify the island's production base, the government is attempting to develop an offshore financial sector and is researching Dominica's capability to export geothermal energy.
GDP (purchasing power parity)
Definition - World rank and map
$648 million (2007 est.)
GDP (official exchange rate)
Definition
$311 million (2007 est.)
GDP - real growth rate
Definition - World rank and map
0.9% (2007 est.)
GDP - per capita
Definition - World rank and map
$9,000 (2007 est.)
GDP - composition by sector
Definition
agriculture: 17.7%
industry: 32.8%
services: 49.5% (2004 est.)
Labor force
Definition
25,000 (2000 est.)
Labor force - by occupation
Definition
agriculture: 40%
industry: 32%
services: 28% (2000 est.)
Unemployment rate
Definition - World rank and map
23% (2000 est.)
Population below poverty line
Definition
30% (2002 est.)
Household income or consumption by percentage share
Definition
lowest 10%: NA%
highest 10%: NA%
Inflation rate (consumer prices)
Definition - World rank and map
2.7% (2007 est.)
Budget
Definition
revenues: $73.9 million
expenditures: $84.4 million (2001)
Agriculture - products
Definition
bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited
Industries
Definition
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Industrial production growth rate
Definition - World rank and map
-10% (1997 est.)
Electricity - production
Definition - World rank and map
80 million kWh (2005)
Electricity - consumption
Definition - World rank and map
74.4 million kWh (2005)
Electricity - consumption per capita
Definition - World rank and map
1,026.1 kWh (2005)
Electricity - exports
Definition
0 kWh (2005)
Electricity - imports
Definition
0 kWh (2005)
Oil - production
Definition - World rank and map
0 bbl/day (2005)
Oil - consumption
Definition - World rank and map
800 bbl/day (2005 est.)
Oil - consumption per 1,000 people
Definition - World rank and map
11 bbl/day (2005 est.)
Oil - exports
Definition - World rank and map
0 bbl/day (2004)
Oil - imports
Definition - World rank and map
771.8 bbl/day (2004)
Oil - proved reserves
Definition - World rank and map
0 bbl (1 January 2006 est.)
Natural gas - production
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - consumption per capita
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - exports
Definition - World rank and map
0 cu m (2005 est.)
Natural gas - imports
Definition - World rank and map
0 cu m (2005)
Natural gas - proved reserves
Definition - World rank and map
0 cu m (1 January 2006 est.)
Current account balance
Definition - World rank and map
-$72 million (2007 est.)
Exports
Definition - World rank and map
$94 million f.o.b. (2006)
Exports - commodities
Definition
bananas, soap, bay oil, vegetables, grapefruit, oranges
Exports - partners
Definition
China 23.2%, UK 12.3%, Jamaica 11.7%, Antigua and Barbuda 9.4%, Guyana 7.9%, Trinidad and Tobago 5.1%, Saint Lucia 4.3% (2006)
Imports
Definition - World rank and map
$296 million f.o.b. (2006)
Imports - commodities
Definition
manufactured goods, machinery and equipment, food, chemicals
Imports - partners
Definition
US 23.4%, China 20.6%, Trinidad and Tobago 12.8%, Japan 10.7%, South Korea 4.5% (2006)
Debt - external
Definition - World rank and map
$213 million (2004)
Economic aid - recipient
Definition
$15.17 million (2005 est.)
Currency (code)
Definition
East Caribbean dollar (XCD)
Exchange rates
Definition
East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
Fiscal year
Definition
1 July - 30 June


Google
 
Web sitesatlas.com