Dominica - Balance of payments



The increasingly unfavorable balance of trade produces a current account deficit and boosts the foreign debt. Recurrent hurricanes add to the debt burden. Dominica hopes to be able to offset the trade deficit with tourism revenues.

The US Central Intelligence Agency (CIA) reports that in 2000 the purchasing power parity of Dominica's exports was $49 million while imports totaled $132 million resulting in a trade deficit of $83 million.

The International Monetary Fund (IMF) reports that in 2000 Dominica had exports of goods totaling $50 million and imports totaling $130 million. The services credit totaled $88 million and debit $51 million. The following table summarizes Dominica's balance of payments as reported by the IMF for 2000 in millions of US dollars.

Dominica

Current Account -69
Balance on goods -79
Balance on services 37
Balance on income -37
Current transfers 10
Capital Account 14
Financial Account 53
Direct investment abroad
Direct investment in Dominica 11
Portfolio investment assets -0
Portfolio investment liabilities 14
Other investment assets -10
Other investment liabilities 39
Net Errors and Omissions 2
Reserves and Related Items -0
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