Dominica:
Economy

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Other pages in this profile of Dominica:
Geography, People, Government, Communications & Transportation, Military & Transnational Issues.


Economy - overview	Definition The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Tourism has increased as the government seeks to promote Dominica as an "ecotourism" destination. 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 Dominica's economic and financial crisis of 2001-02 and to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for 2006 reached a two-decade high - and will help to reduce the debt burden, which remains at about 100% of GDP. In order to diversify the island's production base, the government is attempting to develop an offshore financial sector and is researching Dominica's capability to export geothermal energy.
GDP (purchasing power parity)	Definition - World rank and map $648 million (2007 est.)
GDP (official exchange rate)	Definition $311 million (2007 est.)
GDP - real growth rate	Definition - World rank and map 0.9% (2007 est.)
GDP - per capita	Definition - World rank and map $9,000 (2007 est.)
GDP - composition by sector	Definition agriculture: 17.7% industry: 32.8% services: 49.5% (2004 est.)
Labor force	Definition 25,000 (2000 est.)
Labor force - by occupation	Definition agriculture: 40% industry: 32% services: 28% (2000 est.)
Unemployment rate	Definition - World rank and map 23% (2000 est.)
Population below poverty line	Definition 30% (2002 est.)
Household income or consumption by percentage share	Definition lowest 10%: NA% highest 10%: NA%
Inflation rate (consumer prices)	Definition - World rank and map 2.7% (2007 est.)
Budget	Definition revenues: $73.9 million expenditures: $84.4 million (2001)
Agriculture - products	Definition bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited
Industries	Definition soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Industrial production growth rate	Definition - World rank and map -10% (1997 est.)
Electricity - production	Definition - World rank and map 80 million kWh (2005)
Electricity - consumption	Definition - World rank and map 74.4 million kWh (2005)
Electricity - consumption per capita	Definition - World rank and map 1,026.1 kWh (2005)
Electricity - exports	Definition 0 kWh (2005)
Electricity - imports	Definition 0 kWh (2005)
Oil - production	Definition - World rank and map 0 bbl/day (2005)
Oil - consumption	Definition - World rank and map 800 bbl/day (2005 est.)
Oil - consumption per 1,000 people	Definition - World rank and map 11 bbl/day (2005 est.)
Oil - exports	Definition - World rank and map 0 bbl/day (2004)
Oil - imports	Definition - World rank and map 771.8 bbl/day (2004)
Oil - proved reserves	Definition - World rank and map 0 bbl (1 January 2006 est.)
Natural gas - production	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - consumption per capita	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - exports	Definition - World rank and map 0 cu m (2005 est.)
Natural gas - imports	Definition - World rank and map 0 cu m (2005)
Natural gas - proved reserves	Definition - World rank and map 0 cu m (1 January 2006 est.)
Current account balance	Definition - World rank and map -$72 million (2007 est.)
Exports	Definition - World rank and map $94 million f.o.b. (2006)
Exports - commodities	Definition bananas, soap, bay oil, vegetables, grapefruit, oranges
Exports - partners	Definition China 23.2%, UK 12.3%, Jamaica 11.7%, Antigua and Barbuda 9.4%, Guyana 7.9%, Trinidad and Tobago 5.1%, Saint Lucia 4.3% (2006)
Imports	Definition - World rank and map $296 million f.o.b. (2006)
Imports - commodities	Definition manufactured goods, machinery and equipment, food, chemicals
Imports - partners	Definition US 23.4%, China 20.6%, Trinidad and Tobago 12.8%, Japan 10.7%, South Korea 4.5% (2006)
Debt - external	Definition - World rank and map $213 million (2004)
Economic aid - recipient	Definition $15.17 million (2005 est.)
Currency (code)	Definition East Caribbean dollar (XCD)
Exchange rates	Definition East Caribbean dollars per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)
Fiscal year	Definition 1 July - 30 June

Dominica: Economy

Dominica:
Economy