- published: 04 Sep 2015
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Agriculture, with bananas as the principal crop, is still Dominica's economic mainstay. Banana production employs, directly or indirectly, upwards of one-third of the work force. This sector is highly vulnerable to weather conditions and to external events affecting commodity prices. The value of banana exports fell to less than 25% of merchandise trade earnings in 1998 compared to about 44% in 1994.
In view of the European Union's announced phase-out of preferred access of bananas to its markets, agricultural diversification is a priority. Dominica has made some progress, with the export of small quantities of citrus fruits and vegetables and the introduction of coffee, patchouli, aloe vera, cut flowers, and exotic fruits such as mangoes, guavas, and papayas. Dominica has also had some success in increasing its manufactured exports, with soap as the primary product. Dominica also recently entered the offshore financial services market.
Because Dominica is mostly volcanic and has few beaches, development of tourism has been slow compared with that on neighboring islands. Nevertheless, Dominica's high, rugged mountains, rainforests, freshwater lakes, hot springs, waterfalls, and diving spots make it an attractive destination. Cruise ship stopovers have increased following the development of modern docking and waterfront facilities in the capital. Eco-tourism also is a growing industry on the island.
Dominica ( /ˌdɒmɪˈniːkə/ DOM-i-NEE-kə;French: Dominique; Kali‘na (Carib): Wai‘tu kubuli), officially the Commonwealth of Dominica, is an island nation in the Lesser Antilles region of the Caribbean Sea, south-southeast of Guadeloupe and northwest of Martinique. Its size is 750 square kilometres (290 sq mi) and the highest point in the country is Morne Diablotins, which has an elevation of 1,447 metres (4,747 ft). The Commonwealth of Dominica had a population of 71,293 at the 2011 Census. The capital is Roseau.
Dominica has been nicknamed the "Nature Isle of the Caribbean" for its unspoiled natural beauty. It is the youngest island in the Lesser Antilles, still being formed by geothermal-volcanic activity, as evidenced by the world's second-largest hot spring, Boiling Lake. The island features lush mountainous rainforests, home of many rare plant, animal, and bird species. There are xeric areas in some of the western coastal regions, but heavy rainfall can be expected inland. The Sisserou Parrot (also known as the Imperial Amazon), the island's national bird, is featured on the national flag. Dominica's economy is heavily dependent on tourism, agriculture and heavy taxation.