Dominica Economy

Is Dominica a rich country?

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.

Dominica Economy Data

What is the GDP of Dominica?

Currency Name and Code East Caribbean dollars (XCD)
GDP - Gross Domestic Product (PPP) $710,000,000 (USD)
GDP - official exchange rate $524,000,000 (USD)
GDP - real growth rate 1.5%
GDP Per Capita $11,400.00 (USD)
GDP by Sector- agriculture 14.7%
GDP by Sector- Industry 15.5%
GDP by Sector- services 69.8%
GDP - composition, by end use household consumption: 70.5%

government consumption: 18.8%

investment in fixed capital: 10.8%

investment in inventories: 0%

exports of goods and services: 28.6%

imports of goods and services: -28.7%
Population Below Poverty Line 29%
Inflation Rate 1.4%
Labor Force 25,000
Labor Force By Occupation- agriculture 40%
Labor Force By Occupation- industry 32%
Labor Force By Occupation- services 28%
Unemployment Rate 23%
Fiscal Year 1 July - 30 June
Annual Budget $148,100,000 (USD)
Public Debt (% of GDP) 70%
Taxes and other revenues - percent of GDP 28.3%
Major Industries soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Industrial Growth Rate 1.6%
Agriculture Products bananas, citrus, mangos, root crops, coconuts, cocoa

note: forest and fishery potential not exploited
Exchange Rate per US Dollar 2.7
Commercial Bank Prime Lending Rate 8.6%

Labor Force by Occupation- As reported by Dominica

All Countries
Afghanistan Akrotiri Albania Algeria American Samoa Andorra Angola Anguilla Antarctica Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil British Indian Ocean Territory British Virgin Islands Brunei Bulgaria Burkina Faso Burma Burundi Cabo Verde Cambodia Cameroon Canada Cayman Islands Central African Republic Chad Chile China Christmas Island Clipperton Island Cocos (Keeling) Islands Colombia Comoros Congo, Democratic Republic of the Congo, Republic of the Cook Islands Coral Sea Islands Costa Rica Cote d’Ivoire Croatia Cuba Curacao Cyprus Czech Republic Denmark Dhekelia Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Eswatini Ethiopia Falkland Islands Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia, The Gaza Strip Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guadeloupe Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Holy See Honduras Hong Kong Hungary Iceland India Indonesia Iran Iraq Ireland Isle of Man Israel Italy Jamaica Jan Mayen Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea, North Korea, South Kosovo Kuwait Kyrgyzstan Laos Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Martinique Mauritania Mauritius Mayotte Mexico Micronesia Moldova Monaco Mongolia Montenegro Montserrat Morocco Mozambique Namibia Nauru Nepal Netherlands New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Macedonia Northern Mariana Islands Norway Oman Pakistan Palau Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Islands Poland Portugal Puerto Rico Qatar Reunion Romania Russia Rwanda Saint Helena, Ascension, and Tristan da Cunha Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovakia Slovenia Solomon Islands Somalia South Africa Spain Sri Lanka Sudan Sudan, South Suriname Svalbard Sweden Switzerland Syria Taiwan Tajikistan Tanzania Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkey Turkmenistan Turks and Caicos Islands Tuvalu Uganda Ukraine United Arab Emirates United Kingdom United States (US) Uruguay Uzbekistan Vanuatu Venezuela Vietnam Virgin Islands Wake Island Wallis and Futuna West Bank Western Sahara World Yemen Zambia Zimbabwe