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Dominican

Formal name: Commonwealth of Dominica
Capital: Santo Domingo
Head of government: Prime Minister Roosevelt SKERRIT
Languages: English, French patois
Surface area: 48,442 km2
Currency: Dominican peso (DOP, or RD$)

Population : 73,286 (2013 est.)

Labour force: 25,000 (2000 est.)
GDP: US$1.035 billion (2012 est.)
GDP per capital: US$14,600 (2012 est.)

GDP Growth Rate: 0.4% (2012 est.)

Inflation: 2% (2012 est.)
Value of exports: US$41 million (2012 est.)

Main export commodities: bananas, soap, bay oil, vegetables, grapefruit, oranges

Export partners: Japan, Antigua and Barbuda
Exports of percentage of GDP: 5.30%
Largest companies: TRICOM SA, Codetel,
Top schools: The Catholic University Madre y Maestra, Pedro Henrquez Urea National University and Eugenio Mara de Hostos University
Literacy rate: 94%
Human development index: 0.702
Energy consumption (Quadrillion Btu):0.289

Energy production (Quadrillion Btu):0.014
Energy sources: gold and silver, amber, Larimer, ferronickel, bauxite, coal, tin, marble, salt, gypsum, limestone and gold.

(Source: CIA, The World Factbook)
 

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 successfully developed an offshore medical education sector. In order to diversify the island's economy, the government is also attempting to develop an offshore financial sector 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 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. Hurricane Dean struck the island in August 2007 causing damages equivalent to 20% of GDP. In 2009, the economy contracted as a result of the global recession and growth remains anemic. Economic growth in 2010-2011 was about 1%. Although debt levels in 2012 continued to exceed pre-recession levels, the debt burden notably declined from 80% to approximately 70% of GDP.

(Source: CIA, The World Factbook)

 
 
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