Dominica, with a population of 72,737, is ranked 179th in population size, just behind Andorra. Located in the Caribbean, it covers 750 square kilometers, ranking 169th in size, trailing behind Bahrain.
Dominica’s economic position in 2022 is reflective of its status as a developing nation. With a GDP of $607,440,740.74, the country is ranked 181st globally, trailing behind Samoa with a GDP of $832,945,205.64. Dominica’s GDP per capita stands at $8351.19, placing it at the 83rd position worldwide, behind Turkmenistan with a GDP per capita of $8792.55.
Despite facing economic challenges, Dominica continues to strive for growth and development in various sectors to improve its economic standing on the global stage.
What are the economic activities of Dominica?
- Primary activities: 22.3% of GDP.
- Secondary activities: 12.6% of GDP.
- Tertiary activities: 65.1% of GDP.
Primary Sector of Dominica
Dominica’s primary sector, particularly agriculture, thrives due to its tropical climate and rich natural resources. With 33.33% of the land dedicated to agriculture, the country produces a diverse range of products including taro, grapefruits, yams, bananas, plantains, coconuts, milk, yautia, oranges, and sugarcane.
Despite contributing 22.3% to the GDP, agriculture plays a vital role in the economy. The variety of crops and animal products highlight the sector’s importance, providing sustenance, employment, and supporting local livelihoods.
With its diverse geological landscape, Dominica boasts abundant natural resources. The primary sector thrives on timber, hydropower, and arable land, driving economic growth and sustainability.
Secondary Sector of Dominica
What is the secondary sector or what are secondary activities?
The secondary sector comprises industries that transform raw materials from primary activities into finished products for consumption. In Dominica, key industrial products include soap, coconut oil, copra, furniture, cement blocks, and shoes. These goods are manufactured for both domestic consumption and exportation, contributing to the country’s economic growth and development.
In 2023, Dominica’s manufactures accounted for a small percentage of its total exports, indicating that they are not a significant contributor to the country’s export economy.
Tertiary sector of Dominica
What is the tertiary sector or what are tertiary activities?
The tertiary sector in Dominica encompasses a range of services where knowledge and time are utilized to enhance productivity and meet needs. This sector includes intangible goods like advice, expertise, and attention, catering to both consumers and businesses. Key tertiary activities in Dominica are restaurants, healthcare and medical care, education and training, banking and finance, communication and information exchange, and tourism and hospitality.
Specifically, Dominica’s economy heavily relies on tourism, contributing significantly to its GDP. With an impressive 322,000 annual arrivals, almost 4.5 times its population, this sector is crucial. The island’s natural wonders, like the Boiling Lake and Trafalgar Falls, attract visitors worldwide, driving economic growth and generating employment opportunities.
Another example of tertiary economic activity is the mobile cellular sector, which boasts around 62,000 subscriptions, enhancing connectivity. This infrastructure supports technological growth, fostering innovation and digital services.
International Trade of Dominica
Import Activities of Dominica
The import activities of the Dominican Republic are of high importance, accounting for 59.27% of its GDP in 2023, totaling $360 million.
Dominica’s main import partners are the US (51%), China (9%), Indonesia (4%), Trinidad and Tobago (4%), and Italy (3%). The country imports refined petroleum, natural gas, crude petroleum, plastic products, and cars.
Exports Activities of Dominica
Dominica’s total exports in 2023 amounted to $23,600,000, representing 3.89% of its GDP. With a low export contribution, it plays a minor role in the country’s economy.
Dominica’s export activities are diversified, with key partners including the Bahamas, Guyana, Antigua and Barbuda, Dominican Republic, and Barbados. The country mainly exports power equipment, soap, raw iron bars, natural gas, and tropical fruits.
Dominica economy challenges in 2024
In 2024, Dominica faces challenges in diversifying its agrarian economy, balancing environmental conservation with tourism growth, and ensuring transparency in its citizenship-by-investment program. The country aims to strengthen its emerging industries while preserving its natural resources.
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