Short facts about the economy in Dominica
| Economy -
overview: |
The economy depends on agriculture and
is highly vulnerable to climatic conditions, notably tropical storms.
Agriculture, primarily bananas, accounts for 21% of GDP and employs 40% of the
labor force. Development of the tourist industry remains difficult because of
the rugged coastline, lack of beaches, and the lack of an international airport.
Hurricane Luis devastated the country's banana crop in September 1995; tropical
storms had wiped out one-quarter of the crop in 1994 as well. The subsequent
recovery has been fueled by increases in construction, soap production, and
tourist arrivals. The government is attempting to develop an offshore financial
industry in order to diversify the island's production
base. |
| GDP: |
purchasing power parity - $290 million
(2000 est.) |
| GDP - real
growth rate: |
0.5% (2000
est.) |
| GDP - per
capita: |
purchasing power parity - $4,000 (2000
est.) |
| GDP -
composition by sector: |
agriculture: 21%
industry: 16%
services: 63% (1999
est.) |
| Population
below poverty line: |
NA% |
| Household
income or consumption by percentage share: |
lowest 10%: NA%
highest 10%:
NA% |
| Inflation
rate (consumer prices): |
2.5% (2000
est.) |
| Labor force
- by occupation: |
agriculture 40%, industry and commerce
32%, services 28% |
| Unemployment
rate: |
20% (1999
est.) |
| Budget: |
revenues: $72 million
expenditures: $79.9 million, including capital
expenditures of $11.5 million (FY97/98) |
| Industries: |
soap, coconut oil, tourism, copra,
furniture, cement blocks, shoes |
| Industrial
production growth rate: |
-10% (1997
est.) |
| Electricity
- production: |
62 million kWh
(1999) |
| Electricity
- production by source: |
fossil fuel: 48.39%
hydro: 51.61%
nuclear:
0%
other: 0% (1999) |
| Electricity
- consumption: |
57.7 million kWh
(1999) |
| Electricity
- exports: |
0 kWh
(1999) |
| Electricity
- imports: |
0 kWh
(1999) |
| Agriculture
- products: |
bananas, citrus, mangoes, root crops,
coconuts, cocoa; forest and fishery potential not
exploited |
| Exports: |
$60.7 million (2000
est.) |
| Exports -
commodities: |
bananas, soap, bay oil, vegetables,
grapefruit, oranges |
| Exports -
partners: |
Caricom countries 47%, UK 36%, US 7%
(1996 est.) |
| Imports: |
$126 million (2000
est.) |
| Imports -
commodities: |
manufactured goods, machinery and
equipment, food, chemicals |
| Imports -
partners: |
US 41%, Caricom countries 25%, UK 13%,
Netherlands, Canada (1996 est.) |
| Debt -
external: |
$108.9 million
(1999) |
| Economic aid
- recipient: |
$24.4 million
(1995) |
| Currency: |
East Caribbean dollar
(XCD) |
| Exchange
rates: |
East Caribbean dollars per US dollar -
2.7000 (fixed rate since 1976) |
| Fiscal
year: |
1 July - 30 June | Source: World Factbook |
