unbekannter Gast

Dominica: Economy#

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 successfully developed an offshore medical education sector. In order to diversify the island's economy, the government is also attempting to develop 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 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, 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, one of the lowest levels in the Eastern Caribbean.

Economic Facts#

GDP (purchasing power parity)$1.015 billion (2013 est.)
$1.004 billion (2012 est.)
$1.021 billion (2011 est.)
note: data are in 2013 US dollars
GDP - real growth rate1.1% (2013 est.)
-1.7% (2012 est.)
1% (2011 est.)
GDP - per capita (PPP)$14,300 (2013 est.)
$14,200 (2012 est.)
$14,400 (2011 est.)
note: data are in 2013 US dollars
GDP - composition, by sector of originagriculture: 15.7%
industry: 15.6%
services: 68.7% (2013 est.)
Population below poverty line29% (2009 est.)
Household income or consumption by percentage sharelowest 10%: NA%
highest 10%: NA%
Labor force - by occupationagriculture: 40%
industry: 32%
services: 28% (2002 est.)
Exports - commoditiesbananas, soap, bay oil, vegetables, grapefruit, oranges
Exports - partnersJapan 38.8%, Jamaica 8.3%, Antigua and Barbuda 7.7%, Guyana 6.5%, Paraguay 5.6%, Trinidad and Tobago 4.2% (2012)
Agriculture - productsbananas, citrus, mangos, root crops, coconuts, cocoa
note: forest and fishery potential not exploited
Budgetrevenues: $148.1 million
expenditures: $185.2 million (2013 est.)
Imports - commoditiesmanufactured goods, machinery and equipment, food, chemicals
Imports - partnersJapan 39.3%, US 15.6%, Trinidad and Tobago 13.5%, China 5.1% (2012)
Exchange ratesEast Caribbean dollars (XCD) per US dollar -
2.7 (2013 est.)
2.7 (2012 est.)
2.7 (2010 est.)
2.7 (2009)
Exports$40.4 million (2013 est.)
$40.6 million (2012 est.)
Debt - external$274.9 million (31 December 2013 est.)
$272.1 million (31 December 2012 est.)
Fiscal year1 July - 30 June
Imports$219.6 million (2013 est.)
$182.7 million (2012 est.)
Industrial production growth rate-1% (2013 est.)
Industriessoap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Inflation rate (consumer prices)1.8% (2013 est.)
1.4% (2012 est.)
Labor force25,000 (2000 est.)
Unemployment rate23% (2000 est.)
Public debt70% of GDP (2012 est.)
78% of GDP (2009 est.)
Current account balance-$91.5 million (2013 est.)
-$54.9 million (2012 est.)
Reserves of foreign exchange and gold$90 million (31 December 2013 est.)
$94.56 million (31 December 2012 est.)
GDP (official exchange rate)$495 million (2013 est.)
Central bank discount rate6.5% (31 December 2010 est.)
6.5% (31 December 2009 est.)
Commercial bank prime lending rate9.1% (31 December 2013 est.)
9.03% (31 December 2012 est.)
Stock of domestic credit$333.3 million (31 December 2013 est.)
$304.1 million (31 December 2012 est.)
Stock of narrow money$94.41 million (31 December 2013 est.)
$84.39 million (31 December 2012 est.)
Stock of broad money$455.2 million (31 December 2013 est.)
$421.6 million (31 December 2012 est.)
Taxes and other revenues29.9% of GDP (2013 est.)
Budget surplus (+) or deficit (-)-7.5% of GDP (2013 est.)
GDP - composition, by end usehousehold consumption: 65.5%
government consumption: 18.9%
investment in fixed capital: 24.8%
investment in inventories: 0%
exports of goods and services: 46.4%
imports of goods and services: -55.6%
(2013 est.)
Gross national saving9.2% of GDP (2012 est.)
8.5% of GDP (2011 est.)
7.8% of GDP (2010 est.)