Overview: The economy is dependent on agriculture and thus is highly vulnerable to climatic conditions. Agriculture accounts for about 30% of GDP and employs 40% of the labor force. Principal products include bananas, coconuts, citrus, and root crops. In 1987 the economy achieved a 4.6% growth in real GNP on the strength of a 19% boost in construction and higher agricultural production; bananas represented 65% of total exports. The small manufacturing sector, based on soap and garment industries, grew by about 6%. The tourist industry remains undeveloped because of a rugged coastline and a lack of an international-class airport.

GNP: $124.5 million, per capita $1,320; real growth rate 4.6% (1987)

Inflation rate (consumer prices): 4.9% (1987)

Unemployment rate: 20% (1988 est.)

Budget: revenues $60 million; expenditures $52 million, including capital expenditures of $18 million (FY88)

Exports: $46 million (f.o.b., 1987); @m5commodities--bananas, coconuts, grapefruit, soap, galvanized sheets; @m5partners--UK 72%, Jamaica 10%, OECS 6%, US 3%, other 9%

Imports: $66.0 million (c.i.f., 1987); @m5commodities--food, oils and fats, chemicals, fuels and lubricants, manufactured goods, machinery and equipment; @m5partners--US 23%, UK 18%, CARICOM 15%, OECS 15%, Japan 5%, Canada 3%, other 21%

External debt: $63.6 million (December 1987)

Industrial production: growth rate 5.9% (manufacturing 1987)

Electricity: 7,000 kW capacity; 16 million kWh produced, 190 kWh per capita (1988)

Industries: agricultural processing, tourism, soap and other coconut-based products, cigars, pumice mining

Agriculture: bananas, citrus, coconuts, cocoa, yams, essential oils

Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-80), $22.6 million

Currency: East Caribbean dollar (plural--dollars); 1 EC dollar (EC$) = 100 cents

Exchange rates: East Caribbean dollars (EC$) per US$1--2.70 (fixed rate since 1976)

Fiscal year: 1 July-30 June

NOTE: The information regarding Dominica on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 1989 information contained here. All suggestions for corrections of any errors about Dominica Economy 1989 should be addressed to the CIA.