Dominica - Economy
How is the economy of Dominica? Based on the information we have, Dominica has a highly agrarian OECS island economy; ECCU-member state; large banana exporter; improved oversight of its citizenship-by-investment program; emerging ecotourism, information and communications, and education industries. Key agricultural products in this country include: taro, grapefruits, yams, bananas, coconuts, plantains, milk, yautia, sugarcane, oranges (2023).
More about the economy of Dominica
| Labor force | |
|---|---|
| Industrial production growth rate | 8.8% (2024 est.) |
| Industries | soap, coconut oil, tourism, copra, furniture, cement blocks, shoes |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | East Caribbean dollars (XCD) per US dollar - |
| Exchange rates 2024 | 2.7 (2024 est.) |
| Exchange rates 2023 | 2.7 (2023 est.) |
| Exchange rates 2022 | 2.7 (2022 est.) |
| Exchange rates 2021 | 2.7 (2021 est.) |
| Exchange rates 2020 | 2.7 (2020 est.) |
| Debt - external | |
| Debt - external 2023 | $301.191 million (2023 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $155.971 million (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $183.53 million (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $204.343 million (2022 est.) |
| Current account balance | |
| Current account balance 2024 | -$160.12 million (2024 est.) |
| Current account balance 2023 | -$223.632 million (2023 est.) |
| Current account balance 2022 | -$163.746 million (2022 est.) |
| Budget | |
| Revenues | $233.831 million (2017 est.) |
| Expenditures | $164.673 million (2017 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 5.6% of GDP (2024 est.) |
| Remittances 2023 | 5.2% of GDP (2023 est.) |
| Remittances 2022 | 6.1% of GDP (2022 est.) |
| Imports | |
| Imports 2024 | $387.532 million (2024 est.) |
| Imports 2023 | $417.164 million (2023 est.) |
| Imports 2022 | $354.27 million (2022 est.) |
| Imports (partners) | USA 24%, China 11%, Indonesia 8%, Trinidad & Tobago 7%, Italy 7% (2023) |
| Comodities Imports force | refined petroleum, ships, plastic products, semi-finished iron, cars (2023) |
| Exports | |
| Imports 2024 | $387.532 million (2024 est.) |
| Imports 2023 | $417.164 million (2023 est.) |
| Imports 2022 | $354.27 million (2022 est.) |
| Exports (partners) | Bahamas, The 13%, Saudi Arabia 11%, Iceland 10%, Guyana 7%, Antigua & Barbuda 7% (2023) |
| Comodities Exports force | iron blocks, medical instruments, excavation machinery, power equipment, soap (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $1.241 billion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $1.216 billion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $1.173 billion (2022 est.) |
| GDP (official exchange rate) | $688.881 million (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $18,700 (2024 est.) |
| Real GDP per capita 2023 | $18,300 (2023 est.) |
| Real GDP per capita 2022 | $17,600 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 12.2% (2024 est.) |
| Industry | 13.9% (2024 est.) |
| Services | 56.9% (2024 est.) |
| GDP - composition, by end use | |
| Household consumption | 87.7% (2018 est.) |
| Government consumption | 27.4% (2018 est.) |
| Investment in fixed capital | 32.7% (2018 est.) |
| Investment in inventories | 0% (2018 est.) |
| Exports of goods and services | 29.2% (2018 est.) |
| Imports of goods and services | -77.8% (2018 est.) |
All Important Facts about Dominica
Want to know more about Dominica? Check all different factbooks for Dominica below.
