Dominica/Economy

Economy of Dominica

An overview of key economic indicators. Select a category for detailed trends, charts, and insights.

Explore Economic Domains

Growth & Output

Coming Soon
GDP (USD)
$654.0M(2023)
GDP PPP (USD)
$1.3B(2023)
GDP per Capita (USD)
$9,833(2023)
GDP Growth (inflation-adjusted)
4.7%(2023)
Inflation (CPI Annual %)
2.6%(2024)

Trade & Finance

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Exports (as share of GDP)
29.2%(2018)
Imports (as share of GDP)
77.8%(2018)
FDI Inflows (as share of GDP)
7.3%(2023)
Remittance Inflow (USD)
$34.5M(2023)

Labor & Income

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GNI per Capita (USD)
$9,790(2023)

Energy & Environment

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Energy Use per Capita
625 kg oil eq.(2007)
Renewable Energy Consumption (%)
8.9%(2022)

Economic Snapshot Overview

A summary of key economic indicators for Dominica

  • The economic architecture of Dominica is substantial, anchored by a Gross Domestic Product (GDP) of approximately $653.99M
    2023
    . This places it as the 184th largest economy out of 191 countries measured, underscoring its significance on the world stage. On a per capita basis, GDP stands at $9.83K
    2023
    , while its GDP in Purchasing Power Parity (PPP) terms is estimated at $1.29B, reflecting the population's domestic purchasing power. The economy demonstrates solid growth, expanding at a rate of 4.7%
    2023
    , accompanied by stable price levels, with inflation (CPI) at 2.6%
    2024
    .
  • On the global stage, the nation's trade and financial dynamics reveal a complex interplay of factors. The nation runs a trade deficit, with exports at 29.2% of GDP and imports at 77.8%
    2018
    . Foreign Direct Investment (FDI) inflows are significant, constituting 7.28% of the economy
    2023
    . This performance positions the country 20th globally out of 186 nations, indicating its relative attractiveness to foreign capital. Additionally, personal remittances received amount to a substantial $34.48M annually
    2023
    , highlighting the economic importance of its diaspora.
  • The socio-economic landscape is characterized by a Gross National Income (GNI) per capita of $9,790
    2023
    . Globally, this ranks the nation 77th out of 190 in terms of GNI per capita, providing a clear measure of its national wealth relative to others.
  • On the environment and energy front, energy consumption per capita is 624.573 kg of oil equivalent
    2007
    . The energy mix is still heavily reliant on traditional sources, with renewables contributing 8.9%
    2022
    . Its commitment to clean energy places it 44th among 190 countries for its share of renewable energy consumption.

Key Economic Insights

Macroeconomic Health

Maintaining a balance between growth, inflation, and employment is the central challenge for economic policymakers.

Trade & Investment Profile

The degree of openness to trade and foreign investment is a major determinant of economic structure and resilience.

Social Equity & Distribution

Distributing the benefits of economic growth equitably is crucial for social cohesion and long-term stability.

Energy & Sustainability

Heavy reliance on fossil fuels creates significant long-term risks related to climate change, price volatility, and energy security.

More About This Country

Neighbors & Regional Peers

Note: The information on this page has been compiled from authoritative sources. While every effort is made to ensure accuracy, please note that some figures may not be current or entirely precise.