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Dominica Economy 2019

SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES











Dominica Economy 2019
SOURCE: 2019 CIA WORLD FACTBOOK AND OTHER SOURCES


Page last updated on February 08, 2019

Economy - overview:
The Dominican economy was 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. However, Hurricane Maria, which passed through the island in September 2017, destroyed much of the country’s agricultural sector and caused damage to all of the country’s transportation and physical infrastructure. Before Hurricane Maria, the government had attempted to foster an offshore financial industry and planned to sign agreements with the private sector to develop geothermal energy resources. At a time when government finances are fragile, the government’s focus has been to get the country back in shape to service cruise ships. The economy contracted in 2015 and recovered to positive growth in 2016 due to a recovery of agriculture and tourism. Dominica suffers from high debt levels, which increased from 67% of GDP in 2010 to 77% in 2016. Dominica is one of five countries in the East Caribbean that have citizenship by investment programs whereby foreigners can obtain passports for a fee and revenue from this contribute to government budgets.

GDP (purchasing power parity):
$783 million (2017 est.)
$821.5 million (2016 est.)
$800.4 million (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 206
[see also: GDP country ranks ]

GDP (official exchange rate):
$557 million (2017 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
-4.7% (2017 est.)
2.6% (2016 est.)
-3.7% (2015 est.)
country comparison to the world: 217
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$11,000 (2017 est.)
$11,600 (2016 est.)
$11,300 (2015 est.)
note: data are in 2017 dollars
country comparison to the world: 136
[see also: GDP - per capita country ranks ]

Gross national saving:
10.8% of GDP (2017 est.)
20% of GDP (2016 est.)
14.3% of GDP (2015 est.)
country comparison to the world: 160
[see also: Gross national saving country ranks ]

GDP - composition, by end use:
household consumption: 60.6% (2017 est.)
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption: 26.2% (2017 est.)
[see also: GDP - composition, by end use - government consumption country ranks ]
investment in fixed capital: 21.5% (2017 est.)
[see also: GDP - composition, by end use - investment in fixed capital country ranks ]
investment in inventories: 0% (2017 est.)
[see also: GDP - composition, by end use - investment in inventories country ranks ]
exports of goods and services: 54.4% (2017 est.)
[see also: GDP - composition, by end use - exports of goods and services country ranks ]
imports of goods and services: -62.7% (2017 est.)
[see also: GDP - composition, by end use - imports of goods and services country ranks ]

GDP - composition, by sector of origin:
agriculture: 22.3% (2017 est.)
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry: 12.6% (2017 est.)
[see also: GDP - composition, by sector of origin - industry country ranks ]
services: 65.1% (2017 est.)
[see also: GDP - composition, by sector of origin - services country ranks ]

Agriculture - products:
bananas, citrus, mangos, root crops, coconuts, cocoa
note: forest and fishery potential not exploited

Industries:
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes

Industrial production growth rate:
-13% (2017 est.)
country comparison to the world: 199
[see also: Industrial production growth rate country ranks ]

Labor force:
25,000 (2000 est.)
country comparison to the world: 208
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 40%
[see also: Labor force - by occupation - agriculture country ranks ]
industry: 32%
[see also: Labor force - by occupation - industry country ranks ]
services: 28% (2002 est.)
[see also: Labor force - by occupation - services country ranks ]

Unemployment rate:
23% (2000 est.)
country comparison to the world: 192
[see also: Unemployment rate country ranks ]

Population below poverty line:
29% (2009 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: NA
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: NA
[see also: Household income or consumption by percentage share - highest 10% country ranks ]

Budget:
revenues: 227.8 million (2017 est.)
[see also: Budget - revenues country ranks ]
expenditures: 260.4 million (2017 est.)
[see also: Budget - expenditures country ranks ]

Taxes and other revenues:
40.9% (of GDP) (2017 est.)
country comparison to the world: 34
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-5.9% (of GDP) (2017 est.)
country comparison to the world: 181
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
82.7% of GDP (2017 est.)
71.7% of GDP (2016 est.)
country comparison to the world: 33
[see also: Public debt country ranks ]

Fiscal year:
1 July - 30 June

Inflation rate (consumer prices):
0.6% (2017 est.)
0% (2016 est.)
country comparison to the world: 32
[see also: Inflation rate (consumer prices) country ranks ]

Central bank discount rate:
6.5% (31 December 2010)
6.5% (31 December 2009)
country comparison to the world: 58
[see also: Central bank discount rate country ranks ]

Commercial bank prime lending rate:
8.08% (31 December 2017 est.)
8.28% (31 December 2016 est.)
country comparison to the world: 108
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$113.2 million (31 December 2017 est.)
$112 million (31 December 2016 est.)
country comparison to the world: 188
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$113.2 million (31 December 2017 est.)
$112 million (31 December 2016 est.)
country comparison to the world: 193
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$182.2 million (31 December 2017 est.)
$195.9 million (31 December 2016 est.)
country comparison to the world: 185
[see also: Stock of domestic credit country ranks ]

Current account balance:
-$70 million (2017 est.)
$5 million (2016 est.)
country comparison to the world: 82
[see also: Current account balance country ranks ]

Exports:
$28 million (2017 est.)
$43.7 million (2016 est.)
country comparison to the world: 206
[see also: Exports country ranks ]

Exports - partners:
Saudi Arabia 42.6%, Trinidad and Tobago 9.3%, Jamaica 8.1%, St. Kitts and Nevis 7.1%, Guyana 6.7% (2017)

Exports - commodities:
bananas, soap, bay oil, vegetables, grapefruit, oranges

Imports:
$206.6 million (2017 est.)
$188.4 million (2016 est.)
country comparison to the world: 209
[see also: Imports country ranks ]

Imports - commodities:
manufactured goods, machinery and equipment, food, chemicals

Imports - partners:
US 61.3%, Trinidad and Tobago 9.8% (2017)

Reserves of foreign exchange and gold:
$212.3 million (31 December 2017 est.)
$221.9 million (31 December 2016 est.)
country comparison to the world: 172
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$280.4 million (31 December 2017 est.)
$314.2 million (31 December 2015 est.)
country comparison to the world: 186
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$372.7 million (31 December 2017 est.)
country comparison to the world: 132
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$220,000 (31 December 2017 est.)
country comparison to the world: 119
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
East Caribbean dollars (XCD) per US dollar -
2.7 (2017 est.)
2.7 (2016 est.)
2.7 (2015 est.)
2.7 (2014 est.)
2.7 (2013 est.)


NOTE: 1) The information regarding Dominica on this page is re-published from the 2019 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 2019 information contained here. All suggestions for corrections of any errors about Dominica Economy 2019 should be addressed to the CIA.
2) The rank that you see is the CIA reported rank, which may habe the following issues:
  a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
  b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order






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