Additional information about the country |
GDP per capita: purchasing power parity - $5,500 (2003 est.)
GDP by sector: agriculture: 18%
industry: 24%
services: 58% (2002 est.)
Labour force: 25,000 (1999 est.)
Labour force by occupation: agriculture 40%, industry and commerce 32%, services 28%
Unemployment: 23% (2000 est.)
Agriculture: bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited
Industries: soap, coconut oil, tourism, copra, furniture, cement blocks, shoes
Television broadcast stations: 1 (2004)
Internet: 12,500 users (2002)
Military: no regular military forces; Commonwealth of Dominica Police Force (includes Coast Guard) |
Economy overview |
The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Production of bananas dropped precipitously in 2003, a major reason for the 1% decline in GDP. Tourism increased in 2003 as the government sought to promote Dominica as an "ecotourism" destination. Development of the tourism industry remains difficult, however, because of the rugged coastline, lack of beaches, and the absence of an international airport. The government began a comprehensive restructuring of the economy in 2003 - including elimination of price controls, privatization of the state banana company, and tax increases - to address Dominica's economic crisis and to meet IMF targets. In order to diversify the island's production base the government is attempting to develop an offshore financial sector and is planning to construct an oil refinery on the eastern part of the island. |