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 31 December 2017 | $280.4 million (31 December 2017 est.) |
| Debt - external 31 December 2015 | $314.2 million (31 December 2015 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 | $180 million (2021 est.) |
| Expenditures | $184 million (2021 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 | 22.3% (2017 est.) |
| Industry | 12.6% (2017 est.) |
| Services | 65.1% (2017 est.) |
| GDP - composition, by end use | |
| Household consumption | 60.6% (2017 est.) |
| Government consumption | 26.2% (2017 est.) |
| Investment in fixed capital | 21.5% (2017 est.) |
| Investment in inventories | 0% (2017 est.) |
| Exports of goods and services | 54.4% (2017 est.) |
| Imports of goods and services | -62.7% (2017 est.) |
All Important Facts about Dominica
Want to know more about Dominica? Check all different factbooks for Dominica below.
