72813
English (official), French patois
ROSEAU (capital) 15,000 (2014)
- Conventional long form
- Commonwealth of Dominica
- Conventional short form
- Dominica
- Local long form
- Local short form
parliamentary republic
- Name
- Roseau
- Geographic coordinates
- 15 18 N, 61 24 W
- Time difference
- UTC-4 (1 hour ahead of Washington, DC, during Standard Time)
accepts compulsory ICJ jurisdiction; accepts ICCt jurisdiction
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. Moreover, Dominica has an offshore medical education sector. In order to diversify the island's economy, the government is also attempting to foster an offshore financial industry and plans to sign agreements with the private sector to develop geothermal energy resources. In 2003, the government began a comprehensive restructuring of the economy - including the 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. In 2009 and 2013, the economy contracted as a result of the global recession; growth remains anemic. Although public debt levels continue to exceed pre-recession levels, the debt burden declined from 78% of GDP in 2011 to approximately 70% in 2012.
- Inflation
- -0.786%
- External debt stocks
- US$ 314,211,000
- Total tax rate (% of commercial profits)
- 35.2%
- Real Interest Rate
- 7.591%
- Manufacturing, value added (% of GDP)
- 2.31%
- Current Account Balance
- US$ -72,149,157
- Labor Force, Total
- 4,547,491
- Employment in Agriculture
- 12%
- Employment in Industry
- 14.90%
- Employment in Services
- 52.40%
- Unemployment Rate
- 12.40%
- Imports of goods and services
- US$ 288,616,224
- Exports of goods and services
- US$ 218,249,713
- Total Merchandise Trade
- 50.63%
- FDI, net inflows
- US$ 35,956,667
- Commercial Service Exports
- US$ 115,002,456
bananas, citrus, mangos, root crops, coconuts, cocoa
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
- Commodities
- bananas, soap, bay oil, vegetables, grapefruit, oranges
- Partners
- Japan 37.9%, Jamaica 18.9%, Antigua and Barbuda 10.4%, Trinidad and Tobago 6.2%, St. Lucia 4.7%, St. Kitts and Nevis 4.2% (2015)
- Commodities
- manufactured goods, machinery and equipment, food, chemicals
- Partners
- Japan 42.2%, Trinidad and Tobago 17.1%, US 11.9%, China 6.1% (2015)