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consulate(s) general: New York

Diplomatic representation from the US:

the US does not have an embassy in Dominica; the US Ambassador to Barbados is accredited to Dominica

Flag description:

green, with a centered cross of three equal bands - the vertical part is yellow (hoist side), black, and white and the horizontal part is yellow (top), black, and white; superimposed in the center of the cross is a red disk bearing a sisserou parrot encircled by 10 green, five-pointed stars edged in yellow; the 10 stars represent the 10 administrative divisions (parishes)

Economy ::Dominica

Economy - overview:

The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Tourism has increased as the government seeks to promote Dominica as an "ecotourism" destination and has developed a new tourism development plan with assistance from the EU. Hurricane Dean struck the island in August 2007 causing damages equivalent to 20% of GDP. In 2003, the government began a comprehensive restructuring of the economy - including elimination of price controls, privatization of the state banana company, and tax increases - to address Dominica's economic and financial crisis of 2001–02 and to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for 2006 reached a two-decade high - and will help to reduce the debt burden, which remains at about 100% of GDP. In order to diversify the island's production base, the government is attempting to develop an offshore financial sector and has signed an agreement with the EU to develop geothermal energy resources.

GDP (purchasing power parity):

$726.3 million (2008 est.) country comparison to the world: 209 $703.8 million (2007 est.)

$691.4 million (2006 est.)

note: data are in 2008 US dollars

GDP (official exchange rate):

$364 million (2008 est.)

GDP - real growth rate:

3.2% (2008 est.) country comparison to the world: 120 1.8% (2007 est.)

3.8% (2006 est.)

GDP - per capita (PPP):

$10,000 (2008 est.) country comparison to the world: 106 $9,700 (2007 est.)

$9,600 (2006 est.)

note: data are in 2008 US dollars

GDP - composition by sector:

agriculture: 17.7%

industry: 32.8%

services: 49.5% (2004 est.)

Labor force:

25,000 (2000 est.) country comparison to the world: 198

Labor force - by occupation:

agriculture: 40%

industry: 32%

services: 28% (2000 est.)

Unemployment rate:

23% (2000 est.) country comparison to the world: 172

Population below poverty line:

30% (2002 est.)

Household income or consumption by percentage share:

lowest 10%: NA%

highest 10%: NA%

Budget:

revenues: $73.9 million

expenditures: $84.4 million (2001)

Inflation rate (consumer prices):

2.7% (2007 est.) country comparison to the world: 29

Central bank discount rate:

6.5% (31 December 2008) country comparison to the world: 68 6.5% (31 December 2007)

Commercial bank prime lending rate:

9.06% (31 December 2008) country comparison to the world: 91 9.17% (31 December 2007)

Stock of money:

$72.1 million (31 December 2008) country comparison to the world: 115 $73.71 million (31 December 2007)

Stock of quasi money:

$289.9 million (31 December 2008) country comparison to the world: 114 $269.1 million (31 December 2007)

Stock of domestic credit:

$213.6 million (31 December 2008) country comparison to the world: 122 $193.1 million (31 December 2007)

Agriculture - products:

bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited

Industries:

soap, coconut oil, tourism, copra, furniture, cement blocks, shoes

Industrial production growth rate: