Dominica

The Commonwealth of Dominica, popularly known as Dominica, is an island nation in the Caribbean Sea. It should not be confused with the Dominican Republic, another Caribbean nation.

Economy

The Dominican economy is dependent on both tourism and agriculture. Forty percent of Dominican workers are in the agricultural sector, and Dominica's primary agricultural exports include bananas, vegetables, citrus, copra, coconut oil, and essential oils such as bay oil. The country's industries, other than tourism, include soap, furniture, cement blocks, and shoes. Dominica is further benefited by the presence of an offshore medical school, Ross University, in the northern town of Portsmouth. About 900 students live and study in Portsmouth.

Related Topics:
Tourism - Agriculture - Agricultural sector - Exports - Bananas - Vegetables - Citrus - Copra - Coconut oil - Essential oils - Bay oil - Soap - Furniture - Shoes

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The Dominican economy has high poverty (30%), high unemployment (23%), and a low per capita GDP (US$5,400). The Dominican economy has been hurt by problems in the banana industry. The entire economy suffers when weather conditions damage the banana crop, or when the price of bananas falls. The European Union has phased out preferred access of bananas to its markets, causing banana demand to fall. In response, the Dominican government privatized the banana industry. Also, the government has attempted to diversify the economy and has lifted price controls in an attempt to improve the lagging economy. The government is also trying to develop tourism, especially ecotourism. The lack of a large international airport and lack of sandy beaches decrease opportunities for standard tourism, but the heavily rainforested island could lure those who want unconventional ecotourism experiences. Indeed, it is remarked that of all the islands of the Caribbean, Dominica is the only one Christopher Columbus would still recognise.

Related Topics:
Poverty - Unemployment - GDP - European Union - Price controls - Ecotourism - Christopher Columbus

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