Dominica Import Data

Dominica's Import/Export Overview & Market Analysis 2023

Imports & Exports

• Top Trade Partners: Dominica's key trade relationships are with the United States, Canada, and Caribbean neighbors such as Trinidad and Tobago.

• Top 5 Imports: Food products, fuels, machinery, pharmaceuticals, and vehicles lead the import list, collectively accounting for over 60% of total imports.

• Top 5 Exports: Bananas, essential oils, cocoa, spices, and manufactured goods make up the bulk of exports, representing nearly 80% of total exports.

• Trade Balance: Dominica experiences a trade deficit, importing more than it exports, with a gap that has been widening over recent years.

• Trade Policies: The country adheres to Common Market rules from CARICOM, aiming to diversify its economy and reduce dependency on a few key imports.

Market Conditions

• Consumer Expenditure: Spending patterns are influenced by tourism and remittances, with a notable focus on goods and services that cater to basic needs and entertainment.

• Interest Rates & Inflation: Recent economic policies have kept interest rates stable, while inflation remains a concern, affecting cost of living and purchasing power.

• Supply Chain Dynamics: Logistical challenges, especially in the food and construction sectors, are partly due to geographical constraints and global supply chain disruptions.

• Sectoral Performance: Tourism, agriculture, and the nascent technology sector show resilience, with agriculture and tourism being the main contributors to GDP.

Overall Outlook

Dominica's economy faces challenges from global market fluctuations and environmental vulnerabilities but is actively pursuing diversification and sustainability to enhance economic stability and growth potential.