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    Dominica Economy - 1990

      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 1988 the economy achieved a 5.6% growth in real GDP on the strength of a boost in construction, higher agricultural production, and growth of the small manufacturing sector based on soap and garment industries. The tourist industry remains undeveloped because of a rugged coastline and the lack of an international-class airport.

      GDP: $137 million, per capita $1,408; real growth rate 5.6% (1988 est.)

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

      Unemployment rate: 10% (1989 est.)

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

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

      Imports: $66.0 million (c.i.f., 1987); commodities--food, oils and fats, chemicals, fuels and lubricants, manufactured goods, machinery and equipment; partners--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% in manufacturing (1987)

      Electricity: 7,000 kW capacity; 16 million kWh produced, 190 kWh per capita (1989)

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

      Agriculture: accounts for 30% of GDP; principal crops--bananas, citrus fruit, coconuts, root crops; bananas provide the bulk of export earnings; forestry and fisheries potential not exploited

      Aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-87), $109 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 1990 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 1990 information contained here. All suggestions for corrections of any errors about Dominica Economy 1990 should be addressed to the CIA.

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    Revised 07-Feb-03
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