Agriculture, with bananas as the principal crop, is still Dominica's economic mainstay. Banana production employs, directly or indirectly, upwards of one-third of the work force. This sector is highly vulnerable to weather conditions and to external events affecting commodity prices. The value of banana exports fell to less than 25% of merchandise trade earnings in 1998 compared to about 44% in 1994. Species Hybrid origin; see text A banana is a herb, in the genus Musa, which because of its size and structure, is often mistaken for a tree. ...

In view of the European Union's announced phase-out of preferred access of bananas to its markets, agricultural diversification is a priority. Dominica has made some progress, with the export of small quantities of citrus fruits and vegetables and the introduction of coffee, patchouli, aloe vera, cut flowers, and exotic fruits such as mangoes, guavas, and papayas. Dominica has also had some success in increasing its manufactured exports, with soap as the primary product. Dominica also recently entered the offshore financial services market. Coffee Coffee is a beverage, served hot or with ice, prepared from the roasted seeds of the coffee plant. ... Binomial name Pogostemon cablin Benth. ... Species about 400 See list Aloe is a genus of plants belonging to family Asphodelaceae, with about 400 species. ... Species About 35 species, including: Mangifera altissima Mangifera applanata Mangifera caesia Mangifera camptosperma Mangifera casturi Mangifera decandra Mangifera foetida Mangifera gedebe Mangifera griffithii Mangifera indica Mangifera kemanga Mangifera laurina Mangifera longipes Mangifera macrocarpa Mangifera mekongensis Mangifera odorata Mangifera pajang Mangifera pentandra Mangifera persiciformis Mangifera quadrifida Mangifera siamensis Mangifera similis Mangifera... Species About 100 species, including: Psidium cattleianum - Strawberry Guava Psidium friedrichsthalium - Costa Rica Guava Psidium guajava - Apple Guava Psidium guineense - Guinea Guava Psidium littorale - Cattley Guava Psidium montanum - Mountain Guava Guava (from Spanish Guayaba; Goiaba in Portuguese) is a genus of about 100 species of tropical shrubs and small trees... Binomial name Carica papaya L. The papaya, also known as mamao, tree melon, or pawpaw (not to be confused with the true pawpaw), is the fruit of the tree Carica papaya, in the genus Carica. ...

Because Dominica is mostly volcanic and has few beaches, development of tourism has been slow compared with that on neighboring islands. Nevertheless, Dominica's high, rugged mountains, rainforests, freshwater lakes, hot springs, waterfalls, and diving spots make it an attractive destination. Cruise ship stopovers have increased following the development of modern docking and waterfront facilities in the capital. Eco-tourism also is a growing industry on the island.

Dominica is a member of the Eastern Caribbean Currency Union (ECCU). The Eastern Caribbean Central Bank (ECCB) issues a common currency (the East Caribbean Dollar) to all eight members of the ECCU. The ECCB also manages monetary policy, and regulates and supervises commercial banking activities in its member countries. The Eastern Caribbean Central Bank is the monetary authority of a group of six Caribbean nations namely, St Kitts and Nevis, Antigua and Barbuda, Commonwealth of Dominica, St Lucia, St Vincent and the Grenadines, Grenada and two overseas territories of the U.K namely, Anguilla, Montserrat. ... The East Caribbean dollar (currency code XCD) is the currency of eight members of the Organisation of Eastern Caribbean States. ...

Dominica is a beneficiary of the U.S. Caribbean Basin Initiative (CBI). Its 1996 exports to the U.S. were $7.7 million, and its U.S. imports were $34 million. Dominica is also a member of the 15-member Caribbean Community (CARICOM) and of the Organisation of Eastern Caribbean States (OECS). The Caribbean Community and Common Market or CARICOM was established by the Treaty of Chaguaramas[1] which came into effect on August 1, 1973. ... Flag of the OECS. The Organisation of Eastern Caribbean States (OECS) is an inter-governmental organisation dedicated to economic harmonisation and integration, protection of human and legal rights, and the encouragement of good governance between countries and dependencies in the Eastern Caribbean. ...

Economy - overview: The economy depends on agriculture and is highly vulnerable to climatic conditions, notably tropical storms. Agriculture, primarily bananas, accounts for 21% of GDP and employs 40% of the labor force. Development of the tourist industry remains difficult because of the rugged coastline, lack of beaches, and the lack of an international airport. Hurricane Luis devastated the country's banana crop in September 1995; tropical storms had wiped out one-quarter of the crop in 1994 as well. The economy's recovery continued in 1998, fueled by increases in construction, soap production, and tourist arrivals. The government is attempting to develop an offshore financial industry in order to diversify the island's production base.

GDP: purchasing power parity - $384 million (2003 est.)

GDP - real growth rate: -1% (2003 est.)

GDP - per capita: purchasing power parity - $5 500 (2003 est.)

GDP - composition by sector:
agriculture: 18%
industry: 24%
services: 58% (2002 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices): 1% (1998)

Labor force: 25 000 (1999 estimate)

Labor force - by occupation: agriculture 40%, industry and commerce 32%, services 28%

Unemployment rate: 23% (2003 est.)

Budget:
revenues: $73,9 million
expenditures: $84,4 million, including capital expenditures of $NA (2001)

Industries: soap, coconut oil, tourism, copra, furniture, cement blocks, shoes Binomial name Cocos nucifera L. The Coconut Palm (Cocos nucifera), is a member of the Family Arecaceae (palm family). ... Copra is the dried meat, or kernel, of the coconut. ...

Industrial production growth rate: -10% (1997 est.)

Electricity - production: 69,98 GWh (2003)

Electricity - production by source:
fossil fuel: 50%
hydro: 50%
nuclear: 0%
other: 0% (1998)

Electricity - consumption: 65,09 GWh (2003)

Electricity - exports: 0 kWh (1998)

Electricity - imports: 0 kWh (1998)

Agriculture - products: bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited Species Hybrid origin; see text A banana is a herb, in the genus Musa, which because of its size and structure, is often mistaken for a tree. ... Species About 35 species, including: Mangifera altissima Mangifera applanata Mangifera caesia Mangifera camptosperma Mangifera casturi Mangifera decandra Mangifera foetida Mangifera gedebe Mangifera griffithii Mangifera indica Mangifera kemanga Mangifera laurina Mangifera longipes Mangifera macrocarpa Mangifera mekongensis Mangifera odorata Mangifera pajang Mangifera pentandra Mangifera persiciformis Mangifera quadrifida Mangifera siamensis Mangifera similis Mangifera... Binomial name Cocos nucifera L. The Coconut Palm (Cocos nucifera), is a member of the Family Arecaceae (palm family). ... Cocoa beans in a cacao pod Cocoa is the dried and partially fermented fatty seed of the cacao tree from which chocolate is made. ...

Exports: $74 million (2004)

Exports - commodities: bananas 50%, soap, bay oil, vegetables, grapefruit, oranges Species Hybrid origin; see text A banana is a herb, in the genus Musa, which because of its size and structure, is often mistaken for a tree. ... Binomial name Citrus paradisi Macfad. ... RDA percentages are US recommendations for adults Orange—specifically, sweet orange—refers to the citrus tree Citrus sinensis and its fruit. ...

Exports - partners: United Kingdom 21,3%, Jamaica 14,6%, Antigua and Barbuda 8,7%, Guyana 7,4%, Japan 5,3%, Trinidad and Tobago 4,7%, United States 4,2% (2004)

Imports: $234 million (2004)

Imports - commodities: manufactured goods, machinery and equipment, food, chemicals

Imports - partners: China 20,4%, United States 16,8%, Trinidad and Tobago 12,3%, United Kingdom 6,9%, South Korea 4,6%, Japan 4,3% (2004)

Debt - external: $161,5 million (2001)

Economic aid - recipient: $22,8 million (2003)

Currency: 1 East Caribbean dollar (EC$) = 100 cents

Exchange rates: East Caribbean dollars (EC$) per US$1 - 2.7000 (fixed rate since 1976)

Fiscal year: 1 July - 30 June July 1 is the 182nd day of the year (183rd in leap years) in the Gregorian Calendar, with 183 days remaining. ... June 30 is the 181st day of the year (182nd in leap years) in the Gregorian Calendar, with 184 days remaining. ...

See also : Dominica