The economy activity of Commonwealth of Dominica's is mainly dependent on agriculture and tourism. The tourism industry makes the second largest contribution towards economy, followed by soap export.

(Source: Central Bank)

Gross domestic product (GDP) and GDP growth rate

Gross Domestic Product (GDP) of Dominica increased steadily from 2006 to 2008. In 2009, the GDP was recorded at XCD 0.66 billion.

(Source:National Statistics)

Gross national income

Gross National Income (GNI) per capita, PPP, for 2010 was USD 8,273.

(Source: UNDP)

Tax rates

The tax rate on individual income ranges from 16% to 36%.

Income Tax rate
Taxable Income (XCD)	Tax Rate %
Up to 20,000	16
20,000 - 50,000	26
Over 50,000	36

(Source: taxrate.cc)

Corporate tax

Standard corporate tax in Dominica is 30%.

 

Tax rates
Tax contribution	Total tax rate (% profit)
Social Security contributions	7.9
Stamp duty on property transfer	1.5
Property tax	0.7
fuel tax	0.5
Business license	0.3
vehicle license	0.1

(Source: doingbusiness.org)

Inflation

The inflation rate of Dominica fluctuated from 2005 to 2009. In August 2010, the Inflation rate was registered at 0.19%.

(Source: central bank page 3, dominica.gov page 3)

Foreign direct investment (FDI)

In 2010, the Foreign Direct Investment (FDI) was recorded at XCD 83.34 million.

(Source: Central Bank page 34)

Central bank assets

The table below displays the assets of the Central Bank of Dominica.

Currency Unit: Dollar (XCD)

Balance Sheet – Assets of Commercial Bank of Dominica (XCD million)
	December 2010	December 2009
Claims On Central Bank	112.599	99.038
Other ECCB Area Banks	260.587	269.272
Loans and Advances	850.118	773.814
Investments	113.884	95.065
Foreign Assets	159.278	214.003
Other Assets	142.712	148.686
Total Assets	1,639.178	1,599.878

(Source: Central Bank page 1)

Consumer price index (CPI)

Consumer Price Index (CPI) has been continually growing since 2005. In August 2010 the CPI was recorded at 123.46.  

(Source: Central Bank page 3, dominica.gov page 3)

Interest rate

The interest rates on saving deposits for 2006 had a minimum of 3.00% and a maximum of 4.25%. However, the interest rates on fixed deposits for 3 months were between 1.00% (min) and 3.00% (max).

For a 6 month-period, minimum interest rate was registered at 1.00% and the maximum was 3.25%.

For 12 month-period, minimum and maximum rates were 1.00% and 3.50% respectively.

(Source: National Statistics)

Money supply

 

(Source:Central Bank: pg 3)

P – Projected

Government expenditure

(Source: IMF)

e = estimated

Exchange rate

The exchange rate is XCD 2.6882 per USD buying, and XCD 2.7169 per USD selling. (April 2011)

(Source: Central Bank)

Government finances

Fiscal balance

In 2010, the fiscal balance recorded a deficit of XCD 12 million.

(Source: IMF)

Total revenue

The total revenue was estimated to decrease from XCD 466 million in 2009 to XCD 451 million in 2010.

(Source: IMF)

Tax revenue

The revenue from tax in the second quarter of 2010 was XCD 93.29 million, compared to XCD 88.31 million in the corresponding period of 2009.

(Source: Central Bank page 91)

Current account balance - surplus/deficit

The current balance registered a surplus of XCD 24.94 million in Q2 2010 as compared to XCD 24.36 million in the corresponding period of 2009.

 

(Source: Central Bank page 91)

Balance of payments

Balance of Payments (XCD million)
	2010	2009	2008	2007	2006
Current Account	- 318.08	- 275.89	- 319.43	- 234.76	- 134.60
Capital Account Balance	314.14	276.33	295.58	2 23.85	149.92
Financial Account	195.60	157.58	140.18	67.32	74.44
NET ERRORS AND OMISSIONS	2 0.90	7.34	14.77	5 4.97	-2.36
Overall balance	3 6.23	-3.57	- 9.07	5 5.41	-6.30

(Source: Central Bank page 34)

Labour force

The country had total labour force of 48,287 in 2001, in which 27,865 were economically active. About 24,811 labourers were employed and 3,054 were unemployed.

(Source: National Statistics)

Unemployment rate

Unemployment for 2010 was estimated to be 14.4%

(Source: dominicantoday)

Minimum wage

In 2011, Dominica’s minimum wage is recorded at XCD 5.00 per hour for both public and private workers.

(Source: minimum-wage.org)

Level of unionisation

The various trade unions in the country include:

• Dominica Amalgamated Workers' Union (DAWU)
• Dominica Trade Union (DTU)
• Waterfront & Allied Workers' Union (WAWU)

 (Source: ICFTU)

Commonwealth of Dominica is a Parliamentary Democracy, and the country enjoys universal adult suffrage.

The House of Assembly is the Parliament of the country and is unicameral. There are 32 members in parliament, of which 21 are directly elected. 

Role of President is nominal in the state of Dominica.  The position is elected by Parliament and for a term of five years.

Currently, Dr. Nicholas Liverpool is the President, and Roosevelt Skeritt is the Prime Minister of the country.

(Source: BBC)

The major political parties in the country include:

• The Dominica Freedom Party (DFP)
• The Dominica Labour Party (DLP)
• United Workers Party (UWP).

(Source: IPU, dominican.net, dominica.gov)

Regulatory environment

Dominicastands 72^nd on the 2011 Index of Economic Freedom, with a score of 63.3. The country is ranked 15^th amongst the 29 countries of South and Central America/Caribbean region.

(Source:heritage.org)

Corruption

The Corruption Perceptions Index (CPI) is a survey that measures the perceived level of corruption across countries worldwide. Dominica is ranked 44^th out of 178 countries in the 2010 index, with score of 5.2, indicating a low rate of corruption in the country.

 (Sources: Transparency.org)

Freedom of information

Media in Dominica is free from government interference.

(Source: BBC)

The various newspapers in the country include:

• The Chronicle
• The Times
• The Sun
• The Tropical Star

(Source: BBC)

Judicial system

The judiciary in Dominica consists of

• The Judicial Committee
• The Magistrate Court
• The High Court
• The Court of Appeal

The Judicial system of Commonwealth of Dominica is independent. The Judicial Committee of the Privy Council in London is the highest court of law . The Magistrate Court is the lowest level of judiciary, dealing with criminal and minor civil matters. The High Court deals with serious criminal and civil cases. The Court of Appeal deals with the appeals which are forwarded from the high court and the magistrate court.

(Source: dominican.net)

Population

In 2009, the total population was 70,382, of which 34,910 were females. 

(Source: worldstat.info)       

Gender Ratio   

In 2009, there were 103.7 males per 100 females, reflecting a balanced gender ratio in the country.

(Source: un.org)

The population below 14 created 29.5% of the total population. In 2009, 15.1% women, and 11.7% men were aged above 60.

(Source: un.org)

Average life expectancy rate

Theaverage life expectancy in 2010 was estimated to be 75.6 years. The average life expectancy of males was estimated to be 72.6 years, while females were expected to live to about 78.6.

(Source: worldstat.info)

Migration and urbanisation

International migrant stock till mid 2010 was recorded at 0.8 thousand people making up 0.3% of the population.

(Source: un.org)

The latest figures reveal that the urban population in the country grew at an annual rate of 0.2%. For the same period, the rural population declined at a slower rate of 1.7% per year.

(Source: un.org)

Ethnicity

The various ethnic groups in the country include people of African, European, Syrian and Carib Amerindians descent. The various religions in the country include Roman Catholics, Protestant Islams, Jehovah's Witnesses, Nazarenes, Baha'is, Rastafarians, Anglicans, people of the Church of Christs, and Brethren Christians.

(Source: State.gov)

Human development index

The country is not included in the Human Development Index 2010 conducted by the United Nations.

(Source: UNDP)

Literacy rate

The adult literacy rate is estimated to be 88%.

(Source: eclacpos.org)

Education resource

The Ministry of Education and Human Resource Development in Commonwealth of Dominica is responsible for the primary and secondary education and supports tertiary education. Additonally, the ministry is accountable for setting up new policies and standards in the education system.

Education system of Dominica consists of four main levels, pre-primary, primary, secondary and tertiary.

(Source: unesco.org, dominica.gov)

Health

Health care services in Dominica are basically structured with two levels of services, primary health care services and secondary health care services. Health care is well-organized and responseds adequately to the needs of the population.  In total there are 7 health centers and 44 clinics located throughout the country.

Primary health care services are structured by seven health care districts of the country. Every health care district is provided with a Type I clinics, where, on average, 600 people are served within a five-mile radius. Types II and III health centers offer inclusive health care services. Type III health centers are the district’s administrative headquarters location.

Princess Margaret Hospital provides services to secondary health care. Currently secondary health care consist of 195 beds. As per rule, medical services are accessed through inpatient, outpatient, and casualty facilities.

(Source: paho.org)

Ports

In total there are three ports in Dominica. Port of Portsmouth, Port of Roseau and Port of Woodbridge Bay in Dominica

(Source: worldportsource.com)

Airports

(Source: Aircraft World Charter)

Telecommunications

(Source: itu.int)

The number of fixed telephone line users declined from 19,000 in 2005 to 17,500 in 2009.

Mobile cellular subscriptions

(Source: itu.int)

In 2009, the numbers of mobile cellular subscription users in Dominica was recorded at 106,000 as compared to 100,000 in 2008.

Internet Users

In 2010, there were about 27,500 internet users reflecting a penetration rate of 37.8%.

(Source: Internet World Stats)