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, plantains, coconuts, milk, yautia, oranges, sugarcane (2022).
More about the economy of Dominica
Labor force
Industrial production growth rate 5.01% (2023 est.)
Industries soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Population below poverty line
Taxes and other revenues 40.9% (of GDP) (2017 est.)
Fiscal year
Exchange rates
Currency East Caribbean dollars (XCD) per US dollar -
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.)
Exchange rates 2019 2.7 (2019 est.)
Debt - external
Debt - external 2022 $282.847 million (2022 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $183.53 million (2023 est.)
Reserves of foreign exchange and gold 2022 $204.343 million (2022 est.)
Reserves of foreign exchange and gold 2021 $190.843 million (2021 est.)
Current account balance
Current account balance 2023 -$221.939 million (2023 est.)
Current account balance 2022 -$162.036 million (2022 est.)
Current account balance 2021 -$182.647 million (2021 est.)
Public debt
Public debt 2017 82.7% of GDP (2017 est.)
Budget
Revenues $233.831 million (2017 est.)
Expenditures $164.673 million (2017 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 9.05% of GDP (2023 est.)
Remittances 2022 6.22% of GDP (2022 est.)
Remittances 2021 7.24% of GDP (2021 est.)
Imports
Imports 2023 $414.13 million (2023 est.)
Imports 2022 $350.982 million (2022 est.)
Imports 2021 $313.729 million (2021 est.)
Imports (partners) US 51%, China 9%, Indonesia 4%, Trinidad and Tobago 4%, Italy 3% (2022)
Comodities Imports force refined petroleum, natural gas, crude petroleum, plastic products, cars (2022)
Exports
Imports 2023 $414.13 million (2023 est.)
Imports 2022 $350.982 million (2022 est.)
Imports 2021 $313.729 million (2021 est.)
Exports (partners) Bahamas, The 12%, Guyana 8%, Antigua and Barbuda 7%, Dominican Republic 7%, Barbados 6% (2022)
Comodities Exports force power equipment, soap, raw iron bars, natural gas, tropical fruits (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $1.159 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $1.106 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $1.048 billion (2021 est.)
GDP (official exchange rate) $653.993 million (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $15,900 (2023 est.)
Real GDP per capita 2022 $15,200 (2022 est.)
Real GDP per capita 2021 $14,500 (2021 est.)
GDP - composition, by sector of origin
Agriculture 14.8% (2023 est.)
Industry 12.2% (2023 est.)
Services 58.5% (2023 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.)
Exports of goods and services 29.2% (2018 est.)
Imports of goods and services -77.8% (2018 est.)
All Important Facts about Dominica

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Dominica is found in Caribbean