Dominica

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 - real growth for 2006 reached a two-decade high - and helped to reduce the debt burden, which remains at about 85% 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.

$765.4 million (2010 est.)

$754.8 million (2009 est.)

$757.1 million (2008 est.)

$375 million (2010 est.)

1.4% (2010 est.)

-0.3% (2009 est.)

3.2% (2008 est.)

$10,500 (2010 est.)

$10,400 (2009 est.)

$10,400 (2008 est.)

25,000 (2000 est.)

23% (2000 est.)

30% (2002 est.)

78% of GDP (2009 est.)

85% of GDP (2006 est.) (2006 est.)

0.1% (2009 est.)

2.7% (2007 est.)

6.5% (31 December 2009)

6.5% (31 December 2008)

10.02% (31 December 2009 est.)

9.06% (31 December 2008 est.)

$74.84 million (31 December 2009)

$67.94 million (31 December 2008)

$398.5 million (31 December 2009)

$362 million (31 December 2008)

$213.6 million (31 December 2008 est.)

$193.1 million (31 December 2007 est.)

bananas, citrus, mangos, root crops, coconuts, cocoa

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

NA%

85 million kWh (2007 est.)

79.05 million kWh (2007 est.)

0 kWh (2008 est.)

0 kWh (2008 est.)

0 bbl/day (2009 est.)

1,000 bbl/day (2009 est.)

0 bbl/day (2007 est.)

838 bbl/day (2007 est.)

0 bbl (1 January 2010 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (2008 est.)

0 cu m (1 January 2010 est.)

-$72 million (2007 est.)

$94 million (2006)

bananas, soap, bay oil, vegetables, grapefruit, oranges

Japan 28.62%, UK 19.81%, Antigua and Barbuda 7.7%, Guyana 6.52%, Jamaica 5.4%, Trinidad and Tobago 4.2% (2009)

$296 million (2006)

manufactured goods, machinery and equipment, food, chemicals

Japan 31.29%, US 19.73%, Trinidad and Tobago 11.8%, China 11.58% (2009)

$213 million (2004)

East Caribbean dollars (XCD) per US dollar - 2.7 (2007), 2.7 (2006), 2.7 (2005), 2.7 (2004), 2.7 (2003)