| Economy | Dominica |
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Economy - overview:
|
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. In order to diversify the island's production base, the government also is attempting to develop an offshore financial sector and has signed an agreement with the EU 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. This restructuring paved the way for an economic recovery and helped to reduce the debt burden, which remains at about 80% of GDP. Hurricane Dean struck the island in August 2007 causing damages equivalent to 20% of GDP. In 2009, growth slowed as a result of the global recession; it picked up only slightly in 2010-11. |
GDP (purchasing power parity):
|
$1.02 billion (2011 est.)
$1.02 billion (2010 est.)
$918 million (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$13,600 (2011 est.)
$13,500 (2010 est.)
$13,500 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$500 million (2011 est.) |
GDP - real growth rate:
|
0.9% (2011 est.)
0.3% (2010 est.)
-0.7% (2009 est.) |
GDP - composition by sector:
|
agriculture: 21.4%
industry: 22.4%
services: 56.3% (2011 est.) |
Investment (gross fixed):
|
26.4% of GDP (2011 est.) |
Population below poverty line:
|
30% (2002 est.) |
Household income or consumption by percentage share:
|
lowest 10%: NA%
highest 10%: NA% |
Distribution of family income - Gini index:
|
void |
Inflation rate (consumer prices):
|
3.5% (2011 est.)
3.2% (2010 est.) |
Central bank discount rate:
|
6.5% (31 December 2010 est.)
6.5% (31 December 2009 est.) |
Commercial bank prime lending rate:
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10% (31 December 2011 est.)
9.475% (31 December 2010 est.) |
Stock of money:
|
$72.1 million (31 December 2008)
$73.71 million (31 December 2007) |
Stock of money - per capita:
|
989 USD per capita |
Stock of quasi money:
|
$289.9 million (31 December 2008)
$269.1 million (31 December 2007) |
Stock of quasi money - per capita:
|
3,973 USD per capita |
Stock of domestic credit:
|
$333.3 million (31 December 2011 est.)
$296.3 million (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
4,568 USD per capita |
Stock of narrow money:
|
$83 million (31 December 2011 est.)
$80.96 million (31 December 2010 est.) |
Stock of broad money:
|
$472.2 million (31 December 2011 est.)
$433 million (31 December 2010 est.) |
Labor force:
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25,000 (2000 est.) |
Labor force participation rate:
|
34.26 % of population |
Labor force - by occupation:
|
agriculture: 40%
industry: 32%
services: 28% (2000 est.) |
Unemployment rate:
|
23% (2000 est.) |
Unemployment, youth ages 15-24:
|
total: 26%
male: 26.2%
female: 25.4% (2001) |
Budget:
|
revenues: $148.1 million
expenditures: $111.1 million (2011 est.) |
Budget revenues per capita:
|
2,030 USD per capita |
Taxes and other revenues:
|
29.6% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
7.4% of GDP (2011 est.) |
Public debt:
|
78% of GDP (2009 est.)
85% of GDP (2006 est.) |
Industries:
|
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes |
Industrial production growth rate:
|
NA% |
Electricity - production:
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87 million kWh (2008 est.) |
Electricity - production per capita:
|
1,193 kWh per capita |
Electricity - consumption:
|
80.91 million kWh (2008 est.) |
Electricity - consumption - per capita:
|
1,109 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
0 bbl/day (2010 est.) |
Oil - production per capita:
|
void |
Oil - consumption:
|
1,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
5.00 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
858.6 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
0 cu m (2009 est.) |
Natural gas - consumption - per capita:
|
void |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
0 cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
bananas, citrus, mangos, root crops, coconuts, cocoa
note: forest and fishery potential not exploited |
Current account balance:
|
-$120.1 million (2011 est.)
-$134 million (2010 est.) |
Current account balance - per capita:
|
-1,645 USD per capita |
Exports:
|
$47.8 million (2011 est.)
$42.8 million (2010 est.) |
Exports per capita:
|
656 USD per capita |
Exports - commodities:
|
bananas, soap, bay oil, vegetables, grapefruit, oranges |
Exports - partners:
|
Japan 35.5%, Egypt 12.4%, Antigua and Barbuda 8%, Jamaica 7%, Guyana 6.7%, Trinidad and Tobago 4.3% (2010) |
Imports:
|
$207.1 million (2011 est.)
$225.3 million (2010 est.) |
Imports per capita:
|
2,839 USD per capita |
Imports - commodities:
|
manufactured goods, machinery and equipment, food, chemicals |
Imports - partners:
|
Japan 44.8%, US 13.4%, Trinidad and Tobago 10.7%, China 7.5% (2010) |
Reserves of foreign exchange and gold:
|
void |
Reserves of foreign exchange and gold - per capita:
|
void |
Debt - external:
|
$213 million (2004) |
Debt - external - per capita:
|
2,920 USD per capita |
Stock of direct foreign investment - at home:
|
void |
Stock of direct foreign investment - at home - per capita:
|
void |
Stock of direct foreign investment - abroad:
|
void |
Stock of direct foreign investment - abroad - per capita:
|
void |
Market value of publicly traded shares:
|
void |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
East Caribbean dollar (XCD) |
Exchange rates:
|
East Caribbean dollars (XCD) per US dollar -
2.7 (2011 est.)
2.7 (2010 est.)
2.7 (2009)
|
Fiscal year:
|
1 July - 30 June |
|
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