ional economic developments. Production of bananas dropped
precipitously in 2003, a major reason for the 1% decline in GDP.
Tourism increased in 2003 as the government sought to promote
Dominica as an "ecotourism" destination. Development of the tourism
industry remains difficult, however, because of the rugged
coastline, lack of beaches, and the absence of an international
airport. The government began a comprehensive restructuring of the
economy in 2003 - including elimination of price controls,
privatization of the state banana company, and tax increases - to
address Dominica's economic crisis and to meet IMF targets. In order
to diversify the island's production base the government is
attempting to develop an offshore financial sector and is planning
to construct an oil refinery on the eastern part of the island.

GDP:
purchasing power parity - $380 million (2002 est.)

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

GDP - per capita:
purchasing power parity - $5,400 (2002 est.)

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

Population below poverty line:
30% (2002 est.)

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

Inflation rate (consumer prices):
1% (2001 est.)

Labor force:
25,000 (1999 est.)

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

Unemployment rate:
23% (2000 est.)

Budget:
revenues: $73.9 million
expenditures: $84.4 million, including capital expenditures of NA
(2001)

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:
-10% (1997 est.)

Electricity - production:
72.41 million kWh (2001)

Electricity - consumption:
67.35 million kWh (2001)

Electricity - exports:
0 kWh (2001)

Electricity - imports:
0 kWh (2001)

Oil - production:
0 bbl/day (2001 est.)

Oil - consumption:
600 bbl/day (2001 est.)

Oil - exports:
NA (2001)

Oil - imports:
NA (2001)

Exports:
$39 million f.o.b. (2003 est.)

Exports - commodities:
bananas, soap, bay oil, vegetables, grapefruit, oranges

Exports - partners:
UK 20%, Jamaica 18.5%, Antigua and Barbuda 7.7%, US 7.7%, Guyana
6.2%, Japan 6.2%