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    Dominica Economy - 2004
    https://immigration-usa.com/wfb2004/dominica/dominica_economy.html
    SOURCE: 2004 CIA WORLD FACTBOOK

      Economy - overview:
      The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Production of bananas dropped precipitously in 2003, a major reason for the 1% decline in GDP. Tourism increased in 2003 as the government sought to promote Dominica as an "ecotourism" destination. Development of the tourism industry remains difficult, however, because of the rugged coastline, lack of beaches, and the absence of an international airport. The government began a comprehensive restructuring of the economy in 2003 - including elimination of price controls, privatization of the state banana company, and tax increases - to address Dominica's economic crisis and to meet IMF targets. In order to diversify the island's production base the government is attempting to develop an offshore financial sector and is planning to construct an oil refinery on the eastern part of the island.

      GDP:
      purchasing power parity - $380 million (2002 est.)

      GDP - real growth rate:
      -1% (2003 est.)

      GDP - per capita:
      purchasing power parity - $5,400 (2002 est.)

      GDP - composition by sector:
      agriculture: 18%
      industry: 24%
      services: 58% (2002 est.)

      Population below poverty line:
      30% (2002 est.)

      Household income or consumption by percentage share:
      lowest 10%: NA%
      highest 10%: NA%

      Inflation rate (consumer prices):
      1% (2001 est.)

      Labor force:
      25,000 (1999 est.)

      Labor force - by occupation:
      agriculture 40%, industry and commerce 32%, services 28%

      Unemployment rate:
      23% (2000 est.)

      Budget:
      revenues: $73.9 million
      expenditures: $84.4 million, including capital expenditures of $NA (2001)

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

      Industrial production growth rate:
      -10% (1997 est.)

      Electricity - production:
      72.41 million kWh (2001)

      Electricity - production by source:
      fossil fuel: 47.1%
      hydro: 52.9%
      other: 0% (2001)
      nuclear: 0%

      Electricity - consumption:
      67.35 million kWh (2001)

      Electricity - exports:
      0 kWh (2001)

      Electricity - imports:
      0 kWh (2001)

      Oil - production:
      0 bbl/day (2001 est.)

      Oil - consumption:
      600 bbl/day (2001 est.)

      Oil - exports:
      NA

      Oil - imports:
      NA

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

      Exports:
      $39 million f.o.b. (2003 est.)

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

      Exports - partners:
      UK 36.1%, Jamaica 16.4%, US 8.2%, Antigua and Barbuda 6.6%, Guyana 4.9%, Trinidad and Tobago 4.9% (2002)

      Imports:
      $98.2 million f.o.b. (2003 est.)

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

      Imports - partners:
      China 23.8%, US 23.8%, Trinidad and Tobago 11.9%, South Korea 7.6%, UK 7.1%, Japan 4.3% (2002)

      Debt - external:
      $161.5 million (2001)

      Economic aid - recipient:
      $22.8 million (2003 est.)

      Currency:
      East Caribbean dollar (XCD)

      Currency code:
      XCD

      Exchange rates:
      East Caribbean dollars per US dollar - 2.7 (2003), 2.7 (2002), 2.7 (2001), 2.7 (2000), 2.7 (1999)

      Fiscal year:
      1 July - 30 June


      NOTE: The information regarding Dominica on this page is re-published from the 2004 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominica Economy 2004 information contained here. All suggestions for corrections of any errors about Dominica Economy 2004 should be addressed to the CIA.

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    https://immigration-usa.com/wfb2004/dominica/dominica_economy.html

    Revised 21-May-04
    Copyright © 2004 Photius Coutsoukis (all rights reserved)


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