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    Dominica Economy - 1991

      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, citrus, mangoes, root crops, and coconuts. 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 the soap and garment industries. In 1989, however, Hurricane Hugo wiped out 70% of the banana crop and affected other economic activity. The tourist industry remains undeveloped because of a rugged coastline and the lack of an international-class airport.

      GDP: $153 million, per capita $1,840; real growth rate - 1.7% (1989 est.)

      Inflation rate (consumer prices): 6.3% (1989)

      Unemployment rate: 10% (1989 est.)

      Budget: revenues $48 million; expenditures $85 million, including capital expenditures of $41 million (FY90)

      Exports: $59 million (f.o.b., 1990); commodities--bananas, coconuts, grapefruit, soap, galvanized sheets; partners--UK 72%, Jamaica 10%, OECS 6%, US 3%, other 9%

      Imports: $115 million (c.i.f., 1990); 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: $73 million (1990 est.)

      Industrial production: growth rate 4.5% in manufacturing (1988 est.); accounts for 11% of GDP

      Electricity: 7,000 kW capacity; 16 million kWh produced, 190 kWh per capita (1990)

      Industries: soap, beverages, tourism, food processing, furniture, cement blocks, shoes

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

      Economic aid: Western (non-US) countries, ODA and OOF bilateral commitments (1970-88), $115 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 1991 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 1991 information contained here. All suggestions for corrections of any errors about Dominica Economy 1991 should be addressed to the CIA.

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    Revised 08-Feb-03
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