Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1697797065243.pdf (Dominica)
COMMONWEALTIl OF DOMINICA NATIONAL ACCOUNTS STATISTICS Of THE COMMONWEALTH OF DOMINICA 1999 -2008 ~ ~ .

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i ~ § '@J1@j~~i'~i@Jlliillir~¥®1~~~'@f~(@l~~~~ B • IJ@ Roseau, Commonwealth of Dominica TABLE OF CONTENTS PAGE PREFACE Definition of the components of the Accounts and Related Aggregates Notes on Methodology Analysis of the Performance of the Economy 2008 TABLES Gross Domestic Product by Economic Activity in Current Prices 1999 - 2008 Gross Domestic Product by Economic Activity In Constant Prices 1999 - 2008 Percentage Contribution of Gross Value Added by Economic Activity at Basic Prices in Current Prices 1999 - 2008 Percentage Contribution of Gross Value Added by Economic Activity at Basic Prices in Constant Prices 1999 - 2008 Rate of Growth of Gross Value Added by Economic Activity at Basic Prices in Current Prices 1999 - 2008 Rate of Growth of Gross Value Added by Economic Activity at Basic Prices in Constant Prices 1999 - 2008 Gross Value Added Deflators by Economic Activity at Basic Prices 1999 - 2008 Index of Gross Value Added by Economic Activity at Basic Prices In Current Prices 1999 - 2008 Index of Gross Value Added by Economic Activity at Basic Prices In Constant Prices 1999 - 2008 10.
Expenditure on Gross Domestic Product in Current Prices 1999 - 2008 • 1 8 13 Rate of Growth of Gross Domestic Product by Expenditure in Current Prices 1999 - 2008 National Accounts Aggregates in Current Prices 1999 - 2008 Balance of Payments of Dominica 2001 - 2008 Selected Economic Indicators 2001 - 2008 CHARTS GDP in Current and Constant Prices 1999 - 2008 Sectoral Contribution of Gross Value Added in Constant Prices 2008 Rate of Growth of GVA in Current and Constant Prices 1999 - 2008 Current Account Balance 2002 - 2008 Capital and Financial Account Balance 2002 - 2008 Balance of Payments overall Balance 2002 - 2008 25 26 27 28 29 30 31 32 33 34 - • PREFACE This is the fithteenth publication on National Accounts issued by the Central Statistical Office.
This issue provides estimates of Gross Domestic Product in current and constant prices at basic prices, expenditure on GOP at current prices and other accounting flows such as Gross National Income, and Gross National Savings.

includes the Balance of Payments Additionally, components and some key economic indicators.
it In presenting this report, the standard methodology adopted for the OECS countries which is broadly consistent with the revised United Nations System of National Accounts (SNA) 1993 has been used.

However, due to some constraints the scope of the series has been restricted.

Consequently, some tables, which have been recommended in the SNA, are not presented.
Compilation of the Balance of Payments estimates, undertaken with assistance from the Eastern Caribbean Central Bank, follows standard procedures recommended by the International Monetary Fund's (IMF) Balance of Payment Manual, fifth edition.

The material presented in this issue consists of revised National Accounts estimates for the period 1999 to 2008.

Substantial revisions were made to the series to incorporate the base year of 1990.

Previously, 1977 was used as the base year.


In the process of reVising the series, some changes were made to a few of the deflators as a means of improving on the quality of the estimates.

Also, revised Balance of Payments estimates are presented from 2001 to 2008.

The compilation of these statistics depends primarily on annual survey of establishments, which provides most of the source data.
, The Central Statistical Office expresses sincere thanks to the many respondents who continually provide us with the relevant data.

In addition, the office would like to also express its gratitude to the relevant staff of the Eastern Caribbean Central Bank, who dedlcatedly assisted in the compilation of the National Accounts and Balance of Payments statistics.
Chief Statistician Central Statistical Office ·,... • DEFINITION OF THE COMPONENTS OF THE ACCOUNTS AND RELATED AGGREGATES National Accounts compilation is a statistical procedure, which aims at providing a numerical summary of the many transactions taking place in an economy during a given period of time.

These transactions relate, in particUlar, to the production and use of goods and services, to the generation and use of income and to the transfers of income or capital between sectors of the economy.
The following notes, concepts and definitions are presented here in order to facilitate an understanding of the statistical tables presented in this publication.

THE GROSS OUTPUT OF INDUSTRIES: This is equal to the gross value of goods and services produced within an establishment during the period.

In the case of units produced for the market, most of the goods produced during a period are usually sold during the same period.
The rest goes into the stocks of the producers either in the form of finished goods or as work-in-progress.

Work-in-progress includes partially processed, fabricated or assembled goods, but excludes partially completed construction works, which are included in gross fixed capital formation and in the sales of the construction industry.

The increase in the value of standing timber and crops, which is due to growth, is excluded from gross output and work-in-progress.
Goods and services produced which are not intended for sale in the market, but are used for consumption or capital formation on own account are also covered in the gross output of industries.

INTERMEDIATE CONSUMPTION: This consists of non-durable goods and services purchased by producers and used up as inputs in It does not include goods and services produced within that same the process of production.

establishment and fed back as inputs into production within the same establishment.
Non-durable goods are defined as goods having an expected lifetime of use of less than a year.

Intermediate consumption goods are valued in purchaser's price.

intermediate consumption is estimated as the sum of purchased of inputs less changes in inventories of inputs.

In practice, GROSS VALUE ADDED (GVA) Gross value added is a measure of each producer's contribution to GOP.
It is a measure of the increase or newly created value generated by the production process in question, gross of any capital used up in the production process.

FINANCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED (FISIM) In computing the gross domestic product for the total economy, an adjustment is made for FISIM, which is called financial intermediation services indirectly measured.
FISIM is measured as the total property income receivable by financial interest payable, excluding the value of any property income receivable from the investment of their own funds; as such income does not arise from financial intermediation.

FISIM must be recorded as being disposed of in one or more of the following ways - as intermediate consumption by enterprises, as final consumption by households or exports to non-residents.
In practice, because of the difficulty in allocating this output among various recipients or users of the services, for which no explicit intermediaries minus their total 1 charges are made, we have continued to use the convention proposed in the 1968 version of the SNA whereby the whole of the output is recorded as intermediate consumption of a notional industry.
COMPENSATION OF EMPLOYEES: This is defined to include all payments by resident producers of wages and salaries to their employees in cash and in kind, and of contributions paid or imputed, in respect of their employees, to social security schemes and to private pensions, life insurance and similar schemes.
family allowance, casualty insurance, (1) Wages and Salaries: This is defined to include all payments which employees receive in respect of their work whether in cash or in kind, and before deductions to Social Security, Income Tax, etc.
Included are: (a) Commissions, overtime payments (b) Tips (c) Bonuses (d) Cost of living and dearness allowances (e) Fees to ministers of religion (f) Fees to members of boards of directors (e) Holidays and paid vacations or sick leave Also included is the cost to the employer of providing food, lodging, ordinary clothing etc, either free of cost, or at a markedly reduced cost which are of clear and direct benefit to the employees as consumers.
Excluded from wages and salaries are expenditure by employers which are of benefit both to the employees and the employers.

Examples of these are outlays on: (a) Medical Examinations (b) Sport and other recreational facilities (c) Amenities at place of work (d) Reimbursement of expenses for travel and entertainment (e) Reimbursement of expenses or provision of uniforms, tools and equipment (2) Employers Contribution to Social Security Schemes: This concept is self-explanatory.
(3) Employers' contribution to Private Pension Funds etc.

is defined as This schemes in respect of maternity leave, pensions etc.
contributions family allowances, to private funds, special lay-off and severance pay, casualties and reserves or other if in the absence of special schemes of The System of National Accounts (SNA) states that reserves, employers make direct payments of this type to their employees, imputed contributions in respect of these obligations should be included in the employers' contribution to private schemes.
•-'ilL • 2 THE OPERATING SURPLUS/MIXED INCOME: to the excess of This is equivalent the value added at producer's prices over the sum of compensation of employees, taxes net of subsidies on production and imports and allowances for the consumption of fixed capital.

If a strict income approach to estimating value added is used, operating surplus is estimated directly and value added is estimated as the sum of its elements.
If a combination of the production and income approaches to estimation is used, value added is computed as the difference between gross output and intermediate consumption, while operating surplus is calculated as the residual between value added and its other components.

Operating surplus is simply the sum of net profits and property income.
It is the surplus of deficit from production before taking into account interest and land rents payable by the establishments, as any items non-allowable items such as bad debts, donations, miscellaneous provisions and capital written off as current expense.

Mixed income is similarly defined but contains an element of remuneration for the work done by the owners and households of unincorporated business.
CONSUMPTION OF FIXED CAPITAL: This is defined as the value at current replacement cost of the reproducible fixed assets used up during a period of account as a result of normal wear and tear, foreseen obsolescence and the rate of accidental damage.

Unforeseen obsolescence, major catastrophes and the normal depletion of natural resources are not included in consumption of fixed capital.
TAXES ON PRODUCTION AND IMPORTS: These are defined as compulsory, unrequited payments to Government, which industries treat as part of the cost of production.
They include import and export duties, excise, sales, entertainment and turnover taxes, real estate and land taxes, unless they are merely an administrative device for collection of income tax, levies on value added and the employment of labour (but not social security contributions), motor vehicle, driving test, license, airport and passport fees when paid by producers, but are considered to be compulsory fees, fines and penalties when paid by the Household sector.
The SNA no longer uses the term indirect taxes rather it is now called taxes on production and imports.

SUBSIDIES: These are all grants on current account made by Government to private industries and public corporations, and grants made by the public authorities to Government enterprises in compensation for operating losses, when these losses are clearly the consequences of the policy of the Government to maintain prices at a level below cost of production.
Any Government grants to producers, which are not connected with their productive activities but are given to them in the capacity of customers, such as social assistance grants and social security benefits should be treated as current transfers and not as subsidies.

GOVERNMENT FINAL CONSUMPTION EXPENDITURE: This is defined as the value of gross output of Producers of Government Services less the value of its commodity and non-commOdity sales and the value of its own-accounts capital formation.
The gross output is equal to the cost of production, that is, the sum of intermediate consumption of 3 goods and services, compensation of employees, consumption of fixed capital and corresponding net taxes on production.

The Government final consumption expenditure, consists therefore of the purchase of goods and services, and expenditures on compensation of employees less the revenue received from sales.

Sales do not include fees and charges that are levied by Governments for regulatory purposes.
Examples are payments of driving tests, vehicle licenses, driving penmits, passports, airport fees and fees charged for court services, all of which are defined as fees when paid by households and as taxes on production when paid by enterprises.

Fines and penalties are also excluded from sales and classified as "fines and penalties" whether paid by households or enterprises.

These items are not to be deducted from gross output to arrive at final consumption expenditure.
PRIVATE FINAL CONSUMPTION EXPENDITURE: This is defined as the outlays of households on new durable and non-durable goods and services less their net sales of second-hand goods, scraps and waste.

Purchases of households of consumer durables such as furniture, radios, and automobiles are all included in Private Final Consumption Expenditure.

Purchases of dwellings are treated as gross fixed capital formation of the real estate industry.
The imputed rent of owner-occupied dwellings is part of the gross output of the real estate industry and is also included in the final consumption expenditure of households.

GROSS FIXED CAPITAL FORMATION: This consists of additions to the assets of producers of tangible reproducible goods, which have an expected lifetime of use of one year or more.

The producers in question may be industries, producers of Govemment services and producers of private non-profit services to households.
The capital goods may be purchased or produced on own account.

Sales less purchases of second hand fixed assets and sales of scrapped fixed assets by producers should be deducted from gross fixed capital formation.

Gross fixed capital fonmation covers the following items: (i) Acquisitions by producers of civilian use of tangible assets, which have an estimated lifetime timber tracts and similar non of use of one year or more, except reproducible tangible assets.
Relatively inexpensive durable reproducible goods, such as certain types of office equipment may on practical grounds be excluded.

Government outlays on construction and machinery and durable equipment primarily intended for military use, are classified as intermediate consumption rather than gross fixed capital formation.
land, mineral deposits, (ii) Outlays on improvements and alterations of capital goods, which significantly extend their expected lifetime of use or substantially increase their productiVity, are considered to be gross fixed capital formation.

(iii) Outlays on the reclamation and improvement of land, on the development plantations and similar agricultural holding are included in Gross Fixed Capital Formation.

other breeding (iv) Purchases and sheep and acquisition of fixed assets.
(v) Dealer's margins, transactions in land, mineral deposits, solicitors' animals rose of draught animals, for wool and breeding clips hair stock, should dairy be cattle and as treated fees, stamp of timber tracts and similar non-reproducible assets in transfer duties other costs and 4 • • tangible gross capital formation.
non-financial assets and in second-hand assets are covered in CHANGES IN INVENTORY: This is equal in principle to the market value of the physical change during a period of account in stocks of materials, supplies, work-in-progress (except on construction projects), finished products, livestock raised for slaughter and merchandise held by resident industries.

and in stock of strategic materials and emergency stocks of important products held by Government services.
In practice, the closest feasible approximation may be the difference between the levels of these stocks at the beginning and end of the period, both valued at approximate average prices ruling over the period.
EXPORTS AND IMPORTS OF GOODS AND NON-FACTOR SERVICES: This consists of the transactions in goods and services of the residents of a given country with the rest of the world, and covers merchandise, transportation, travel, insurance and other non-factor services, such as government rentals royalties, gifts in kind etc.

Expenditure abroad by residents such as tourists and other persons, seasonal workers, and diplomatic and military personnel stationed abroad are treated as imports.
Similarly, expenditures in the domestic territory by non-residents are considered exports.

The valuation of exports and imports are f.o.b.

transactions, various fees, GROSS VALUE ADDED AT BASIC PRICES: This pertains to the value of all goods and services produced in an economy within a given time It is equal to the sum of compensation of employees, consumption of period of usually one year.
fixed capital, An over-riding consideration on measuring the value of a country's gross domestic product is that duplication must be avoided.

Duplication is avoided by deducting from the output of each producing unit the value of the inputs of goods and services, which it has received from other units, at home or abroad.

taxes less subsidies on production and operating surplus.

GROSS DOMESTIC PRODUCT AT MARKET PRICES: This is equal subsidies on imports plus all non-deductible VAT or similar taxes.
to the sum of the Gross Value Added of all resident producers, piUS taxes less GNI AT MARKET PRICES: Gross National Income at market prices is the value of the goods and services produced by the labour and capital supplied by residents of a country.

It is derived by adding net factor income from the rest of the world to GDP at market prices.

GNI is identical to GNP as was used previously in National Accounts.
NET INCOME FROM THE REST OF THE WORLD: This is defined as the sum of two major components, net compensation of employees, and net property and entrepreneurial income.

Net compensation of employees covers the labour income of 5 - income residents' abroad and non-residents in the country.

Net property and entrepreneurial covers investment foreign financial claims such as interest and dividends.

The entrepreneurial income of foreign investment in a country, i.e.
profits and dividends, could be remitted to foreign countries or left un-remitted.

The un-remitted portion is always treated as reinvested earnings.
income from ownership of LABOUR INCOME AND WORKER'S REMITTANCES: It should be noted that there is a distinction between those individuals whose earnings are to be classified as labour income (persons who are not residents of the economy where they work) and migrants (persons who have become residents of that economy by virtue of being expected to live there for a year or more).

This distinction is often hard to make in practice.
Data for these items are generally obtained from the balance of payments accounts, where migrants' income is classified as workers' remittances under unrequited transfers.

Often when the distinction cannot be made labour income is aggregated with workers' remittances.

NATIONAL ACCOUNTS AT CONSTANT PRICES: For analytical purposes, the national accounts at constant prices are derived by breaking current values down into a price component and quantity component.
Estimates at constant prices are usually derived by deflating the values by price indices or by extrapolating base year values by appropriate volume indices.

Both are equivalent to expressing current period quant~ies at base period prices.

- '.

6 METHODOLOGY OF ESTIMATING GROSS DOMESTIC PRODUCT: The value added can be estimated by three different approaches, which are generally called the production approach, the income approach and the expenditure approach.
The production approach is designed to evaluate the value of output.

The value added is estimated by deducting intermediate consumption from the gross value of output.

The production for estimation of value added for the commodity producing sectors, viz.

approach is useful agriculture, livestock, forestry, fishing and mining.
The income approach is used to estimate the value added by aggregating compensation of employees, taxes less subsidies on production, operating surplus and consumption of fixed capital.

This approach is most commonly used in the case of service sectors, since data on gross output and intermediate consumption in the service sectors may not be readily available.
The expenditure approach is used to estimate the gross domestic product according to This consists of estimates of expenditure of final consumption of categories of households, consumption expenditure of Government, private non-profit services serving households and gross capital formation adjusted for imports and exports of goods and service.

final use.

• • 7 NOTES ON METHODOLOGY AGRICULTURE SECTOR This sector comprises of crops, livestock, forestry and fishing.
CROPS Estimates on production from crops cover output of thirty-one different crops of which bananas are the principle crop.

Other important agro-industrial crops are coconuts, grapefruits, limes, oranges and root crops-such as yams, dasheens and tannias.

Value added is estimated by the production approach.

The value of output consists of exports and local consumption, including subsistence, which vary from crop to crop.
The outputs of the various crops are estimated in consultation with the Ministry of Agriculture.

The farm-gate prices are obtained by adjusting export f.o.b.

and market prices for trade and transport margins.

These prices are checked for consistency with prices paid by the purchasers to the growers of these products.

inputs consists of imported inputs such as seeds, fertilizers, pesticides and The cost of material insecticides.

The c.Lf.
The c.Lf.

values of these imports are adjusted upwards to include duty, consumption tax and trade and transport margins.

Additionally, in consultation with the Ministry of Agriculture, local inputs of materials and costs of repairs and maintenance of agricultural machinery and tools are estimated at 10% of the value of output.

Production of all agricultural crops is re-valued at Imported inputs are deflated by an index of potassic fertilizer prices, and local inputs 1990 prices.
are taken to be 10% of constant price outputs.

LIVESTOCK • The value added for livestock is estimated by the production approach.

The livestock Division of the Ministry of Agriculture provides estimates of beef, pork, mutton, poultry, meat, and eggs and milk production.

Estimates of meat production are based on slaughter permits and an upward adjustment is made for unrecorded slaughter.

Estimates on poultry and egg production are obtained from the major poultry farms.
These are crosschecked for consistency with the estimates provided by the Ministry of Agriculture.

Material inputs consist mostly of imported livestock feed, inputs are estimated at 5% of which amounts to about 25% of the gross value of output.

Local output.

The constant series is obtained by the double deflation method.

FORESTRY The value of output covers bamboo, wood, firewood and charcoal.

The estimates are obtained in consultation with the Ministry of Agriculture Forestry Department.
Material inputs are estimated at 20% of gross value of output.

The constant price series is obtained by the double deflation method.

FISHING For fishing, the Ministry of Agriculture Fisheries Division provided estimates of landed catch.

Since December 1983, enumerators from the Ministry are collected in detailed monthly data on catch at major fishing ports.

Data are also obtained from the cooperatives.


For the previous years, output 8 has been estimated on the basis of number of mechanized and non-mechanized boats and average catch per boat.

The Department of Fisheries conducted an ad hoc survey in 1981 and estimated that there were 350 mechanized and 259 non-mechanized boats in fishing and they caught 8,000 Ibs.

and 2,080 Ibs.

of fish per boat respectively.


The retail price of fish ;s taken as the producers' price since most of the fish is usually sold at the point of landing.

The material inputs consist of expenses on fuel, bait, nets, repairs and maintenance or boats, etc.

which amounts to 48.7% of the value of output for mechanized boats and 5.2% for non-mechanized boats.
The constant price estimates are obtained by valuing output at 1990 prices and deducting input in the same proportion as in the current series.

ELECTRICITY AND WATER The value added in this sector is estimated by the Production and income approaches.

The main source of data is the financial statements of the electricity and the Water & Sewage companies.

The constant price estimates are extrapolated from the base year estimates on the basis of electricity sold and water supplied.
CONSTRUCTION The value added in construction is estimated by the commodity flow approach.

The estimates are essentially based on import data, since domestic output of construction material is negligible.

The c.Lf.

values of imports of construction material are adjusted downward for any re-exports and for non-construction purposes; and adjusted upwards for duty, consumption tax, and trade and transport margins.
The value of construction materials used as inputs is assumed to be 60% of the gross value of output.

This proportion has been derived on the basis of discussions with the Ministry of Communications and Works and private contractors.

For the constant price estimates, the deflator used is an index of c.Lf.

import prices of construction materials such as cement, wood iron and steel.

WHOLESALE AND RETAIL TRADE Value added in the trade sector is estimated by the income approach.
The main source of data is the accounts of trading establishments available at the Inland Revenue Office.

The constant price estimates have been obtained by deflating the value added in current prices by the price index.

HOTELS AND RESTAURANTS The value added estimates are obtained by using both the production and income approach.

The main sources of data are the accounts at the Inland Revenue Office.

To cover small hotels and restaurants the above is adjusted by 5%.
The constant price estimates are derived by extrapolating the base year value added by an index of the total number of visitor arrivals.

MINING AND QUARRYING This is a relatively small sector and consists of only two private companies.

The output covers production of gravel, stone, pumice and sand.

Due to the lack of more comprehensive data for this sector, in recent years the value in Mining has been assumed to be about 10% of the value in construction in both current and constant prices.
9 MANUFACTURING Value added in the Manufacturing sector is estimated by the production and income approach.

The main sources of data are from the records of the Inland Revenue Office and the Annual National Accounts Survey Forms.

The constant price estimates are worked out by extrapolating the base year estimate on the basis of quantities of manufacturing output.

.- TRANSPORT The transports sector comprised of road transport, water transport and air transport.
ROAD TRANSPORT The estimates of value added are obtained on the basis of earnings per vehicle and number of vehicles.

The vehicles covered are hired trucks, buses, taxis, and hired jeeps, and their number is obtained from the licensing authorities.

The eamings per vehicle are obtained on the basis of inquiries from various operators.

The constant price estimates are extrapolated by the number of vehicles in each category.
WATER TRANSPORT The income approach is used to derive value added estimates for water transport, which are obtained from the accounts of port authority, shipping agents and lighter owners, and private shipping companies.

The constant price estimates are derived on the basis of volume of cargo traffic and passenger arrivals and departures by sea transport.

AIR TRANSPORT This sector covers L1AT, and air travel and airport administration.
The income of travel agents and airport administration has been obtained from their accounts.

The constant price estimates are based on the index of volume of passenger arrivals by air transport.

COMMUNICAnONS The estimates cover the operations of the Post Office and the telecommunications Company.

The accounts of the Post Office, which are available from the Government bUdget, are analyzed to obtain compensation of employees and the constant price estimates are based on the volume of postal traffic.
The accounts of the telecommunication companies for Dominica's operation are analyzed to obtain the value added in current prices.

The constant price estimates are based on the combined index of overseas call rates.

BANKING AND INSURANCE The value added estimates are obtained by the income approach.

The accounts of the commercial industrial bank, offshore banks, credit unions and insurance companies are analyzed to banks, obtain the data.
For the banking sub-sector, the constant price estimates are based on the prime lending rate and credit union membership and for insurance the deflator was based on a combined index (85:15 weights), of car and property insurance rates.

10 REAL ESTATE AND DWELLINGS The value added estimates for owner-occupied dwellings are calculated on the basis of number of houses and average rent per house.

One month's rent is subtracted as cost of repairs and maintenance.
The number of dwellings is projected on the basis of 1970, 1981 and 1991 population census data on housing and the growth of the population.

The rate of rent per house for the island as a whole is assumed to be half of the low cost housing as most of the houses is of low quality.

The value added at constant prices are derived first with population growth, and then inflated by the total Consumer Price Index to obtain current price estimates.
The constant price value added for 1979 has been adjusted downwards on account of destruction of houses by Hurricane David.

GOVERNMENT SERVICES The value added at current prices is obtained from analysis of the data on actual expenditure available from the computer printouts.

The wages and salaries, pensions and gratuities comprise compensation of employees.

the post office, airport, broadcasting and construction are excluded and allocated to their appropriate sectors.
The major accounts in the government thus refer to central government, local government and Social Security Administration.

Fiscal year data of central and local governments are adjusted to correspond to the calendar year.

The constant price estimates are obtained by eliminating the effect of wage increase due to cost of living.
The operations of OTHER SERVICE legal firms, This sector covers business, entertainment and personal services, such as services of accounting individual professionals, barbers and beauty salons etc.

Broadcasting and firms, recently Cable TV have also been inclUded.
The gross value added is obtained from data submitted on the Annual National Accounts Survey form and is supplemented with data obtained from the Inland Revenue records The constant price series is derived on the basis of popUlation growth, and the current price series obtained by inflating the above with the Consumer Price Index.
FINANCIAL INTERMEDIATION SERVICES INDIRECTLY MEASURED intermediation services indirectly According to the recommendation of the UN SNA, the financial measured (FISIM), which consists of the difference between interest earned on loans and interest paid on deposits, have been deducted from the GDP in a single line, and not allocated to individual sectors.

The constant price estimates are obtained by using an average interest rate index ex1rapolating base year figures, as was the case for the Banking Sector.
• 11 ECONOMIC ACTIVITY IN DOMINICA REVIEW 2008 (national activities based on the commemoration of Overview In spite of the global crisis, economic activity in Dominica registered an estimated 3.2 percent growth.

This positive performance resulted from the increase in economic activities during the reunion year the country's thirtieth anniversary of political independence from England), and the revamp of the banana industry following the ravages of Hurricane Dean in August 2007.
All sectors with the exception of Manufacturing, recorded growth.

Steady growth has been maintained registering real output of EC$490.41M compared to EC$475.19M in 2007.

Central Government's Fiscal performance also recorded notable improvements as current account balance registered a surplus resulting from an increase in revenue and a reduction in Government expenditure.

However a further widening of the external current account was recorded with an increase in imports and a further decline in exports.
During 2008 the consumer price index recorded a 6.4 percent rise.

Agricultural Sector The Agricultural sector registered an estimated 10.1 percent growth in contrast to a 5.3 percent drop in 2007.

This sharp increase was mainly due to the 25.2 percent increase in banana production following severe destruction by Hurricane Dean in August of 2007.
Similar growth was also recorded in the production of other crops during the year thereby causing an overall livestock and forestry products also registered 14 5 percent rise in crops.

The output of favourable contributions compared to the previous year.

However the fishing sub sector continued on a decline, falling by 5.0 percent.

Manufacturing Sector The Manufacturing sector recorded a 27.0 percent drop resulting from the closure of a main manufacturing company in September 2007.
Reduced output was also recorded in beverages, paints and varnishes.

The decline in beverages output was mainly a result of reduced local demand.

However the output of soaps increased slightly resulting from a higher regional demand.

Hotels and Restaurants Compared to the previous year, activity in the tourism sector increased recording a 4.5 percent rise.
This was due mainly to the country's reunion activities, (activities that marked the thirtieth year of Independence from England) which consequently increased stayovers in both hotels and other paid accommodation.

Although there was a 16.3 percent drop in the number of cruiseship calls cruise visitors increased by 7.4 percent moving from 354,515 to 380,671 visitors.

Excursionists registered an estimated 8.7 percent rise in 2008.
Construction Sector Activity in the construction sector registered a 17.1 percent increase in output, resulting from increased public sector investments, among which were the expansion of the main airport, a seawall in the southern part of the island and major road projects.

The value of private sector construction starts increased by 20.7 percent in spite of a 15.0 percent drop in the number of starts.
12 • • • • • Transportation and Communication Sector Increased activity in the transport sector resulted in an estimated 9.2 percent increase in output.

The road and sea sub-sectors were the main contributors since cruiseship visitors, construction activity, sea passenger arrivals and departures and the quantity of cargo handled increased.

However air transport recorded a 3.6 percent drop since both air arrivals and departures decreased.
With the increase in economic activity during the year, a 3.0 percent rise was registered for telecommunications.

Government Sector The Government sector recorded an estimated 1.8 percent rise, resulting from salary increase during the fiscal year.

Prices Consumer prices increased by 6.4 percent in 2008 compared to 3.2 percent increase in 2007.
The highest percentage increase, 11.7 was registered in the Food group index, while Fuel and Light followed with an increase of 10.1 percent and Alcoholic Beverage and Tobacco; 3.8 percent.

External Sector The current account deficit increased from EC$256.49M in 2007 to EC$298.07M in 2008, mainly attributed to larger net outflows than net inflows on the current account, resulting from increases in imports over exports.
• 13 • 1 4 • • TABLE 1 COMMONWEALTH OF DOMINICA GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY IN CURRENT PRICES (EC$MILLlON) Sector Agriculture Crops Livestock Forestry FishinQ Mining & QuarryinQ Manufacturina Electricity & Water Construction Wholesale & Retail Trade Hotels & Restaurants Transport Road Transport Sea Transport Air Transport Communications Banks & Insurance Real Estate & HousinQ 1999 114,12 91.66 8.19 3.59 1068 4.90 49.30 33.49 4896 7U20 1616 57.56 2836 24.08 5.12 5212 68.72 2027 2000 2001 2002 2003 2004 2005 2006 2007 2008P 36,U5 18.uu 4.UO Government Services 116.51 121.69 12837 133.03 127.78 123.66 12625 131J5 14002 146.09 Other Services Less FISIM 945
 52.11 9.50 993 5398 5409 1041 51.50 10.37 10.89 11.77 48.32 5237 5351 1236 57.26 1305 1385 5709 6441 GVA in Basic Prices 609.65 621.60 607.48 575.24 581.14 611.44 641.27 666.94 711.32 770.83 GROWTH RATE I~IUS ~rOduct I axes Less Subsidies 4,20 1.96 (2.27) (5.31) 1.03 5.21 4.88 4.00 6.65 8.37 113.19 11055 11112 112.86 128.51 158.64 16671 18534 21847 23420 GOP in Market Prices 722.84 732.15 718.60 688.10 709.65 770.08 807.98 852.28 929.79 1.005.03 Growth Rate 3.19 1.29 (1.85) (4.24) 3.U 8.52 4.92 5.48 9.09 8.09
 , 15 • TABLE 2 COMMONWEALTH OF DOMINICA GROSS DOMESTIC PRODUCT BY ECONOMIC ACTIVITY IN CONSTANT PRICES (EC$MILLION) Sector Agriculture Crops Livestock Forestry Fishing Mining & Quarryina Manufacturing 29.16 31.32 27.06 26.45 26.68 27.42 27.54 Electricity & Water 1918 19.66 20.30 20.43 2005 21.10 22.45 Construction 34.86 36.97 36.\4 26.88 29.95 30.94 32.01 Wholesale & Retail Trade 57.02 58.45 5802 55.02 56.89 58.76 61.70 Hotels & Restaurants Transport Road Transport Sea Transport Air Transoort 11.26 45.12 24.28 16.92 392 \1.70 44.68 2547 15.35 3.86 10.83 42.22 23.73 14.80 3.69 10.47 36.70 19.38 \3.60 3.72 10.15 39.03 22.23 13.0\ 3.79 11.34 12.08 42.94 4306 24.56 14.37 4.01 24,60 14.12 4.34 Communications 55.59 5316 49.71 48.9\ 35.94 3720 4036 Banks & Insurance 58.31 58.46 56.54 53.27 55.2\ Real Estate & Housing Government Services 1550 n,1 1566 noo 15.81 15.96 16.28 85.77 88.75 8699 Other Services 6.01 5.98 6.14 6.42 6.30 58.06 16.60 86.34 6.47 63.42 17.19 8600 6.88 Less FISIM 16.40
26.56 23.68 39.16 67.51 12.12 46.53 25.94 16.40 4.19 4502 70.96 18.86 90.19 7.27 50.02 2008 p 80.81 60.07 8.52 3.48 8.74 4.59 19.38 23.91 45.88 72.30 1266 50.80 28.39 18.37 4.04 46.37 72.45 18.92 9179 7.49 56.94 GVA in Basic Prices 450.47 456.35 437.35 415.15 415.55 428.21 442.48 463.55 475.19 490.41 GROWTH RATE Plus Product Subsidies I axes Less 1.63 1.31 (4.16\ (5.08) 0.\0 3.05 3.33 4.76 2.51 3.20 83.64 81.16 80.00 81.45 91.89 111.10 115.02 128.82 14595 149.00 GDP in Market Prices 534.11 537.51 517.35 496.60 507.44 539.31 557.50 592.37 621.14 639.41
 Growth Rate 0.64 0.64 (3.75) (4.01) 2.18 6.28 3.37 6.25 4.86 2.94 • 16 t • TABLE 3 COMMONWEALTH OF DOMINICA PERCENTAGE CONTRIBUTION OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY AT BASIC PRICES IN CURRENT PRICES Sector 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 P Agriculture 18.72 18.10 17.5\ 17.74 18.28 1872 1797 J7.75 16.84 18.17 Crops Livestock Forestry Fishing 15.03 14A9 13 JJ 13.75 1425 14.82 14.13 13.75 1326 14,75 1.34 1.3J 137 IA7 I 47 141 141 140 1.33 1.29 0.59 0.58 0.60 064 0.64 061 058 056 0.52 0.48 1.
75 I 70 1.76 189 1.93 1.89 1.84 2.04 I 73 1.65 Mining &Quarrying 080 0.84 0.86 068 0.79 0.85 0.90 096 I 05 1.22 Manufacturing 8.09 8.76 7.43 7.74 8.00 8.31 8.09 7.81 6.30 4.51 Electricitv & Water Construction 5A9 8.03 5.46 8AO 5.93 6A2 6.35 6A3 6A4 576 5.99 5.89 863 681 7.92 8.29 8.75 930 10.50 12.25 Wholesale & Retail Trade \1.5\ 11.68 1208 1212 1260 1266 1288 1315 13.86 1456 Hotels & Restaurants 2.65 2.73 2.63 269 2.59 289 2.93 J 24 3.35 3,29 • Transport 944 9.29 8.72 787 8AO 898 883 9.12 8.76 Road Transport 465 4.79 4.56 39.1 447 4.80 4.68 474 445 892 4A9 Sea Transport 3,95 3.7 I Hi 3.24 3.18 3.36 3.31 348 346 3.58 Air TranSDort 084 079 075 070 0,75 0.82 085 0,91 085 0.85 Communications 8.55 770 730 689 4.48 4.41 4.43 4.39 4A7 4.24 Banks & Insurance 1l.27 1l.28 11.54 1l.27 11.29 11.30 11.89 II 93 1180 11.20 Real Estate & Housina 3.32 3.36 351 379 383 l.71 3.70 363 362 JJ5 Government ServIces 19.11 1958 21.13 2313 2199 2022 19.69 1969 20.99 18.95 Other SeNices 1.55 1.53 163 181 1.78 I 78 184 1.85 1.83 1.80 Less FISIM 8.55 868 8.90 895 831 8.57 8.34 859 803 836 TOTAL 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 TABLE 4 COMMONWEALTH OF DOMINICA PERCENTAGE CONTRIBUTION OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY AT BASIC PRICES IN CONSTANT PRICES Sector 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 p Agriculture 18.40 17.96 17.51 18.33 17.69 17.76 17.12 16.73 15.45 16.48 Crops Livestock Forestry Fishing 14.15 13.76 13.08 13.60 12.90 13.06 12.41 12.11 11.04 12.25 1.63 1.63 1.71 1.82
MininQ & Quarrying 0.77 0.81 0.83 0.65 0.72 0.73 0.73 0.76 0.82 0.94 ManufacturinQ 6.47 6.86 6.19 6.37 6.42 6.40 6.22 5.97 5.59 3.
95 Electricity & Water 4.26 4.31 4.64 4.92 4.82 4.93 5.07 5.01 4.98 4.88 Construction 7.74 8.10 8.26 6.47 7.21 7.23 7.23 7.49 8.25 9.36 Wholesale & Retail Trade 12.66 12.81 13.27 13.25 13.69 13.72 13.94 13.91 14.21 14.74 Hotels & Restaurants 2.50 2.56 2.48 2.52 2.44 2.65 2.73 3.00 2.55 2.58 Transport 10.02 9.79 965 8.84 9.39 10.03 9.73 9.96 9.79 10.36 • Road Transport 5.39 5.58 5.43 4.67 5.35 5.74 5.56 5.61 5.46 5.79 Sea Transport 3.76 3.36 3.38 3.28 3.13 3.36 3.19 3.33 3.45 3.75 Air Transport 0.87 0.85 084 090 091 0.94 0.98 1.02 0.88 082 Communications 12.34 11.65 11.37 11.78 8.65 8.69 9.12 9.45 947 9.46 Banks & Insurance 12.94 12.81 12.93 12.83 13.29 13.56 14.33 14.32 14.93 14.77 Real Estate & HousinQ 3.44 3.43 3.61 3.84 3.92 3.88 3.88 3.87 3.97 3.86 Government Services 17.43 17.97 19.61 21.38 20.93 20.16 19.44 1883 18.98 18.72 • Other Services 1.33 1.31 1.40 1.55 1.52 1.51 1.55 1.53 1.53 1.53 Less FISIM 10.31 10.38 11.75 12.74 10.69 11.24 11.12 10.83 10.53 11.61 TOTAL 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00 • • , TABLE 5 COMMONWEALTH OF DOMINICA RATE OF GROWTH OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES,IN CURRENT PRICES (%) Sector 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 P Agriculture 3A9 (138) (5A7) (4.06) 4.10 7.77 0.64 2.75 116 16.93 Crops Livestock Forestry Fishina 373 (I 70) (7.14) (5.47) 4.72 944 0.00 120 2.83 20.54 149 098 097 0% I 19 094 4.99 2.99 1.50 4.97 0.84 0.84 I 10 0.82 027 O.~7 0.27 1127 (0 llO) 027 389 (122) 142 lAO 313 3.04 252 1523
 (984) 334 MininQ & QuarryinQ 5.83 653 038 (25191 17.35 13A8 10.73 10.55 16.74 2654 Manufacturing (2.97) 1043 (17.
10) (1311 4A5 9.20 2.13 0.35 (IJ 98) (22AO) Electricity & Water 14.53 128 6.28 239 (003) 656 5.04 (7.02) 1089 665 Construction 5.81 6.60 OAO (25.29) 17.60 10.12 10.69 10.50 20,40 26A7 Wholesale & Retail Trade 3.66 339 110 (500) 501 5.77 6.72 6.17 \236 13.89 Hotels & Restaurants 426 4.89 (5.72) (3.

\9) (265) 17.26 6jl 1499 1)22 638 Transport 366 0.28 (826) {14A51 7.77 12.49 3.13 743 237 [034 Road Transport 004 4.94 (689) (18.30) 14.71 13.09 2.
[5 5.27 0.16 9A2 Sea Transport 641 (4 15) (1027) (9.901 (0911 II.2D 3.21 943 612 1201 Air Transport [253 (469) 17.17) ( 11.701 9.00 14A5 8.62 1162 (050) 831 Communications 538 (821) (732) (1067) (34.23) 3.49 549 2.99 8A7 2.99 Banks & Insurance 455 202 0.01 (7.57) 1.25 5.26 1035 436 5.49 2.88 Real Estate & Housing 1.
96 301 2.01 2A4 2.02 1 98 4.54 202 6.28 0.51 Government Services 3.22 445 5A9 3.63 (395) (322) 209 404 6.60 4.34 Other Services 419 0.53 4.53 4&3 (038) 501 8.08 501 5.58 6 13 Less FISIM 035 359 0.20 (479) (617) 838 218 701 (030) 12.82 TOTAL 4.20 1.96 (2.27) (5.31) 1.03 5.21 4.88 4.00 6.65 8.37 19 TABLE 6 COMMONWEALTH OF DOMINICA RATE OF GROWTH OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES, IN CONSTANT PRICES ('!o) Seclor 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 p Agriculture (2.14) (1.11) (657) (0.65) (3.39) 3.48 (0.41 ) 2.36 (5.34) 10.08 Crops Livestock Forestry Fishino (3.44) (144) (893) (1.26) (5.06) 4.29 (U4) 2.24 (650) 14.48 1.52 095 0.94 0.93 1.19 0.92 5.05 2.96 (0.96) 302 0.90 089 0.88 087 0.29 0.29 0.29 0.29 (I. I 4) 0.29 3.94 (1.18) 1.44 1.42 2.10 2.05 358 3.35 (387) (5.00) Minino & Quarryino 3.87 6.02 12.43) (25.48) 11.52 4.00 3.53 8.36 12.00 17.09 Manufacturing (17.30) 7.41 (13.60) (2.25) 0.87 2.77 0.44 0.51 (4.05) (27.03) Electricity &Water 5.21 2.50 3.26 0.64 ( 1.86) 5.24 640 3.39 2.02 0.97 Construction 3.75 6.05 (2.25) (25.62) 11.42 3.31 3.46 8.53 12.78 17.10 Wholesale & Retail Trade 2.46 2.51 (0.74) (5.17) 3.40 3.29 5.00 4.51 4.70 7.10 Hotels & Restaurants 4.26 3.91 (7.44) 13.32) (3.061 11.72 6.53 14.98 (12.74) 4.46 Transport 1.35 (0.98) (5.51 ) (13.07) 6.35 10.02 0.28 7.22 0.78 9.18 • Road Transport 0.04 4.90 (6.83) (1833) 14.71 10.48 0.16 5.65 (0.19) 9.44 Sea Transport 1.99 (9.28) (3.58) (8.11 ) (4.34) 10.45 (174) 9.42 6.15 12.01 Air Transport 7.10 (1.531 (4.401 0.81 1.88
 5.80 8.23 8.99 (11.42) (3.58) Communications 12.58 14.37) 16.49) 11.61l (26.52) 3.51 8.49 8.55 2.76 3.00 Banks &Insurance 6.76 0.26 (3281 (5.781 3.64 5.16 9.23 -1.65 6.92 210 Real Estate &HousinQ 1.97 1.03 0.96 0.95 2,(11 I.
97 3.55 4.48 5.01 0.32 Government Services 023 4.45 4.60 3.47 (1.98) (0.

7 5) (0.39) 1.50 3.32 1.77 Other Services 3.09 (0.50) 2.68 4.56 ( 1.87) 2.70 6.34 3.05 2.54 3.03 Less FISIM 041 2.00 8.49 2.92 (16.001 8.37 2.18 2.01 (0.34 ) 13.83 TOTAL 1.63 1.31 (4.16) (5.08) 0.10 3.05 3.33 4.76 2.51 3.20 20 TABLE 7 COMMONWEALTH OF DOMINICA GROSS VALUE ADDED DEFLATORS BY ECONOMIC ACTIVITY.
AT BASIC PRICES Sector 1999 2000 2001 2002 2003 2004 2005 2006 2007 200S P Agriculture 137.66 13728 138.90 13413 14452 \505\ \5209 \5266 \63 \4 \ 73.28 Crops Livestock Forestry Fishing \43.83 \4345 \46.28 \4003 154.46 \62.09 \65 \3 \63.45 17978 \8930 1\ \.43 \ \ \.46 111.48 I 11.51 I \ \.5U 1\ l.53 \ \ \.47 11l.50 \ 14 27 \ \6.43 \06.2\ 106 \6 106.40 \U634 10632 10630 106.29 106.27 10663 106.6\ 126.54 126.5U 126.48 126.46 12774 12897 127.65 14232 133.48 145.19 Mininq & Quarrvinq 140.4U 14\.08 145.15 145.72 153.33 16731 178.95 182.57 19U 31 205.66 Manufacturing 16907 17382 16678 168.39 17436 \85.27 \88.38 188.08 16860 179.31 Electricity & Water 17461 172.53 177.59 18U.67 18404 186.35 183.96 16545 17981 18992 Construction 140.45 141 17 14499 14565 153.72 16387 175.32 178.50 190.56 20580 Wholesale & Retail Trade 123.11 124.17 126.47 126.70 12867 13176 13391 136.04 14599 1" 26 Hotels & Restaurants 143.52 14487 147.55 147.76 148.37 155.73 155.71 155.72 196.70 20032 Transport 127.57 129.19 125.41 123.43 125.08 127.90 131.54 131.80 133.87 135.30 Road Transport 116.80 11684 116.77 116.82 1 \682 11958 1219:i 1215 I 121.94 12191 Sea Transport 142.32 15036 13993 13721 14212 143.08 150.28 15029 15024 15024 Air Transport 130.61 126.42 12276 10753 115.04 124.44 12488 \27,91 143,68 161.39 Communications 9376 89.99 89.20 8U 99 72.48 72 47 7047 6686 7057 7056 Banks & Insurance 11785 11993 124.02 121.66 118.86 11896 120 18 119.84 11825 11916 Real Estale & Housing 13077 133.33 134.72 136.72 13673 13675 13805 13480 136.43 13668
 Government Services \ 48.40 148.40 14967 149.89 14689 143.22 14680 150.48 155.25 15916 Other Services 15724 15886 16173 162 15 164.60 168.32 17108 174.33 179.50 184.91 Less FISIM IIVI 113 95 105.25 97.37 108.76 108.76 10876 114.09 11413 113.12 TOTAL 135.34 136.21 138.90 138.56 139.85 142.79 144.93 143.88 149.69 157.18 • 21 TABLE 8 COMMONWEALTH OF DOMINICA INDEX OF GROSS VALUE ADDEO BY ECONOMIC ACTIVITY, AT BASIC PRICES IN CURRENT PRICES Sector Agriculture Crops Livestock Forestry ~~ 1999 2000 2001 2002 2003
 2004 2005 2006 2007 2008" Mining & Quarrying 159.09 16948 170.13 127.27 149.35 16948 18766 20747 24221 306.49 Manufacturing 186.53 205.98 170.75 16852 176.01 19221 19629 196.97 16943 131.48 Electricity & Water 299.55 303.40 322.45 330.14 33005 351 70 36941 343.47 380.86 40617 Construction 173.86 185.33 186.08 13903 163.49 18004 19929 22021 265,'3 335.30 Wholesale & Retail Trade 170.93 176.72 17867 16973 178.23 18851 201 17 21359 23998 273.31 Hotels & Restaurants 211 80 22215 209.44 202.75 197,38 23145 24653 28349 312.45 332.37 Transport 159.09 15954 14635 125.21 13494 151 80 15655 168.19 17217 18997 Road Transport 14223 149.25 13897 113 54 13024 147.29 150.45 15838 15863 17357 Sea Transport 18813 180.31 16180 14578 144.45 160.63 165.78 181 41 19250 215.63 Air Transport 14884 141.86 131.69 11628 12674 145.06 157.56 17587 17500 18953 Communications 220.29 20220 18740 16741 110.10 113.95 120.20 12380 13428 138.29 Banks & Insurance 16499 168.33 168.36 15561 157.55 16583 183.00 19097 20146 20727 Real Estate & HOUSing 15004 15455 157.66 161 51 164.77 16802 175.65 17920 190,45 19141 Government Services 16883 17634 18602 19277 185,16 179.19 18294 19033
 20290 21 ~ 69 OtMer Services 242.31 243.59 254.62 26692 265.90 279.23 301.79 316.92 33462 35513 Less FISIM 185.38 192.03 192.42 183.21 171.90 186.30 190.36 20370 203.09 229.14 TOTAL 164.84 188.07 164.25 155.54 157.13 165.33 173.39 180.33 192.33 20M2 22 • • Sector Agriculture Crops Livestock Forestry Fishlna TABLE 9 COMMONWEALTH OF DOMINICA INDEX OF GROSS VALUE ADDED BY ECONOMIC ACTIVITY, AT BASIC PRICES IN CONSTANT PRICES , 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 P 8983 8864 8281 8227 79.48 82.25
 8191 83.85 7937 87.37 8206 B088 Mining & QuarryinQ 1'3,31 12013 117,21 8734 9740 101,30 10487 1H64 12727 14903 Manufacturino 11033 11850 10238 1,0008 100.95 10375 104.20 104.73 100 49 73,33 Electricity & Water 171 56 17585 181.57 18274 179.34 188.73 200 81 207.60 211.81 21386 ' Construction 12379 131.29 128.34 9545 10636 10987 11367 12337 139.13 16293 Wholesale & Retail Trade 13884 14232 141.27 13397 138.52 143.07 15023 157.00 16438 17604 Hotels & Restaurants '147.58 15334 141 94 13722 133.03 14862 15832 182,04 15885 165.92 Transport 124.71 123.49 116.69 101.44 107.88 118,68 119.02 127.61 128.61 140.41 Road Transport 121.77 127.73 11901 97.19 11148 123.17 12337 130.34 130.09 142.38 Sea Transport 132.19 119.92 11563 106.25 101 64 112.27 11031 12070 128.13 14352 Air TransDort 1~ 395 11221 10727 1CB 14 110.17 11657 12616 137.50 121 ao 117 44 Communications 23495 224.68 210.10 206.72 151.90 15723 170,58 185.16 190.28 19598 Banks & Insurance 14000 140.36 13575 12790 13256 139.40 152.27 159.35 17037 173.95 Real Estate & Houslno 11473 11591 11702 11813 12050 12287 12724 13294 13960 14004 Government Services 113.77 11882 12429 128.60 12605 125,11 12462 12649 130.69 133 01 Other Services 154.10 1,5333 15744 164.62 16154 16590
 176.41 18179 186.41 19205 Less F\SIM 16521 168.52 182.82 188.15 158.06 17129 175.03 178.55 177 94 202.56 TOTAL 121.80 123.39 118.25 112.25 112.36 115.78 119.64 125.34 128.49 132.60 23 TABLE 10 COMMONWEALTH OF DOMINICA EXPENDITURE ON GROSS DOMESTIC PRODUCT IN CURRENT PRICES IEC$MILLIONI 1999 2000 2001 2002 2003 2004 2005 2006 2007 • 2008 P TOTAL CONSUMPTION 586.82 630.85 666.99 634.57 613.58 678.77 758.16 760.09 920.78 987.18 Private consumption 427.56 46648 5065Y 4K7.24 478.44 539.04 60G.23 598.99 735.14 80321
 General Government 159.26 164.37 160.40 14731 115.14 139.73 151.93 161.10 I :)~ 'J.j ,S, ',1"' GROSS CAPITAL FORMATION 200.25 205.43 171.78 142.40 177.61 210.00 232.14 247.36 268.64 318.12 Transport Equipment 3769 3663 22.39 2598 23.98 26.62 4254 38.90 27.95 3126 Other Eouipment 4139 5138 31.50 2&.32 50.05 65.90 63.33 68.93 73.42 7441 Construction 121.17 11742 11789 88.10 103.58 117,48 12627 13953 16727 212.45 Changes In Im'enlorv 0.00 0.00 0.00 0.00 0.00 000 0.00 000 , 00 0,00 GOODS AND NON·FACTOR SERVICES (64.23) (104.13) (120.17) (88.87) (81.54) ( 118.69) (/82.32) (155.17) (259.63) (300.27) Export of Goods 15 J.21 147.80 119.83 117.74 11073 114.9{ 115.85 11950 lC7.04 11849 E;I(port of NFS 272.17 24238 207 54 21521 208.79 23640 231.37 262.24 271.74 28673 Imports of Goods 328.24 35205 312.42 27635 283.10 34488 394.02 396.55 46561 52502 Imports of NFS 159.37 14226 135.12 14547 117.96 125.12 13552 14036 172 80 18047 GDP AT MARKET PRICES 722.84 732.15 718.60 688.10 709.65 770.08 807.98 852.28 929.79 1005.03 Less Taxes on Production and Imports Plus Subsidies 11319 110.55 III 12 11286 128.51 15864 16671 18534 21847 23420 GVAAT BASIC PRICES 609.65 621.60 607.48 575.24 581.14 611.44 641.27 666.94 7) 1.32 770.83 24 RATE OF GROWTH OF GROSS DOMESTIC PRODUCT BY EXPENDITURE IN CURRENT PRICES (%j TABLE 11 COMMONWEALTH OF DOMINICA 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 P TOTAL CONSUMPTION 3.83 7.50 5.73 (4.86) (3.31) 10.62 11.70 0.25 21.14 7.21 Private consumption
 3.72 9.10 8.60 (3.82) (1.81 ) 12.67 1246 (1.19) 2273 9.26 General Government 4.13 321 (2.42) (8 15) (827) 3.40 8.73 604 1523 (0.90) GROSS CAPITAL FORMATION 4.90 2.59 (16.38) (17.10) 24.73 18.24 10.54 6.56 8.60 18.42 Transport Equipment 76.37 (2.81 ) (3888) 16.03 (7.70) 11.01 59.80 (8.56) (28.15) 11.84 Other Equipment (2406) 24.14 (38.69) (10.10) 76.73 31.67 (3.90) 884 651 US Construction 5.35 (309) 040 (2527) 17.57 13.42 748 1050 19.88 27.01 Changes In Inventory 000 0.00 0,00 000 0.00 1.00 1.00 ) 00 1.00
 100 GOODS AND NON·FACTOR SERVICES 15.60 62.12 15.40 (26.05) (8.25) 45.56 53.61 (14.89) 67.32 15.65 Export of Goods (IU7) (226) (1892) (1 74) (5.95) 3.77 0.82 3.15 (1043) 1070 Export of NFS 14.01 (10.95) (1437) 370 (298) 13.22 (2 13) 13.34 3.62 5.52 Imports or Goods 4.49 7.25 (11.26) (11.55) 2.44 21.82 1425 0.64 1742 1276 Imports of NFS 5.73 (1074) (5.02) 7.66 (18.91) 6.07 831 357 23 II 4.44 GOP AT MARKET PRICES 3.19 1.29 (1.85) (4.24) 3.1J 8.52 4.92 5.48 9.09 8.09 Product Taxes Less SubSidies (1.97) (2.33) 0.52 157 lJ 87 23.45 5.09 11.18 17.88 720 GVAAT BASiC PRICES 4.20 1.96 (2.27) (5.3 I) 1.03 5.2\ 4.88 4.00 6.65 8.37 25 TABLE 12 COMMONWEALTH OF DOMINICA NATIONAL ACCOUNTS AGGREGATES IN CURRENT PRICES (EC$ MILLION) 1999 2000 2001 2002 2003 2004 2005 2006 2007 200a f A: INCOME GVAAT BASIC PRICES 609.65 621.60 607.48 575.24 581.14 611.44 641.27 666.94 711.32 770.83 Product TaxGS Less Subsidlil5 113.19 110.55 111.12 112.86 128.51 1~8.64 166.71 185.34 218.47 234.20 GOP AT MARKET PRICES 722.84 732.15 718.60 688.10 709.65 770.08 807.98 852.28 929.79 1,005.03 NET FACTOR INCOME FROM ABROAD (68971 (10616) (6t 25) (68 80\ (6634) (8552) (78 251 (4571 ) (41 74) (4848) GROSS NATIONAL INCOME 653.87 625.99 657.35 619.30 643.31 684.56 729.73 806.57 888.05 956.55 NET CURRENT TRANSFERS FROM ABROAD GROSS NATIONAL DISPOSABLE [NCOMI: B: APPROPRIATION 3661 48.78 4716 36.82 3446 4522 53.10 5285 5568 5069 690,48 674.77 704.51 656.12 677.77 729.78 782.83 859.42 943.73 1,007.24 Private Final
 Consumpt,on 42756 466.48 50659 487.24 473 44 53904 60623 59899 735.14 80321 Government Final Consumption 15926 16437 16040 14733 13514 13973 151 93 161 10 185.64 18397 Total Consumption 586.82 630.85 66699 63457 61358 67877 758 16 76009 92078 987.18 GROSS NATIONAL SAVING 103.66 43.92 37.52 21.55 1W.19 51.01 2~.67 99.33 22.95 20.06 C: CAPITAL FINANCE Gross Capital Formallan 20025 20543 \ 71 78 14240 17761 21000 232 14 24736 26864 ] 18 J2 Gross National SavloQ 103.66 4392 ]752 21 S5 64 J9 51 OJ 2467 99 JJ 22
 95 2006 FOREIGN SA.VINGS 96.59 161.5] lJ4.26 120.85 J 13.42 158.99 207.47 148.03 245.69 298,06 • TABLE 13 THE BALANCE OF PAYMENTS OF DOMINICA SUMMARY 2001 - 2008 (In EC$M) 1.
CURRENT ACCOUNT (131.72) (127.85) (143.56) 303.84 (205.41) (138.91) (256.49) (296.07) 2001" 2002" 2003" 2004" 2005 2006 2007 2008 (162.50) ,:19521) 0.03 2.68 89.06 (37.47) 100.54 (5.55) 15.72 141B\ (55.44) 376 (59.20) (3662) (10.62) 111 96) 47.16 16.00 31.16 123.82 48.53 4853 41.32 7.21 (158.61) (161.17) oU2 254 69.32 (35.24) 9832 (7.95) 2019 16001 (75.40) 153 (7693) (49.19) (1092) 116821 36.84 2 B1 34 03 111.48 55.34 55.34 4771 7.63 (193.27) (19600) 0.00 273 88.18 (4027) 117 26 (6.60) 25.63 <784\ (72.94) 168 (7462) (42.60) (1165) 12037\ 34.47 102 3345 111.21 50.71 50.71 4292 779 237.34 23321 a.co 4.13 111.27 (4282) 13894 (10.46) 2624 <0631 (90.00) 4.25 (94.25) (5862) (12.27) 123 16\ 4S.2~ (4.35) 4958 96.49 64.20 64.20 56.14 806 (278.16) (282.16) 000 400 97.89 (6177) 127 61:) (10.75) 45.12 12.391 (78.24) 373 (B197) (61.25) (8.41l 112.3\1 53.10 063 52,47 210.48 49.37 4937 4111 8.26 (277.0S) (284 57) 000 7.52 125.80 (57.19) 162.B3 (1277) 33.13 1020\ (40.51) 295 (43.46) (19.92) (6,96) 1165B\ 52.55 0.76 5209 152.30 16,02 7600 67.51 B49 (358.09) (36531) 000 722 87.66 (7376) 136.9B (1476) 39.35 10 151 (41.74) 3.10 (4484) (26.07) 2-21 1209B\ 55.68 (0.91) 5659 253.28 156.53 15653 1"1782 B 71 (408.53) (417 04) 0.00 10,51 106.28 (7397) 1556 (1408) 36.43 225 (48.49) 24B (50.97) (3637) 0.74 115.34 SO.69 031 50 38 288.93 141.32 14132 13253 8.79 0.00 000 000 000 000 0.02 0.00 000 A,OOOOS a Merchandise b.
RepaIr on Goods C. Goods procured In Darts by carriers B.

SERVICES a.

Transportation b.

Travel c. Insurance Services d. Other BUSiness Services e. Government Services C.INCOME a.

Compensation of Employees b.

(n,.-estment Income I. Direcllnveslment ii Portfolio Investment IiI.

Other Investment D.CURRENTTRANSFERS a General Government b.

Other Sectors 2.

CAPITAL AND FINANCIAL ACCOUNT A.

CAPITAL ACCOUNT i.

CapItal Translers a General Government b.

Other Sectors 2.
Other Sectors 2.

AcquiSition & Disposal of Non-Produced Non-Financial Assets B.

FINANCIAL ACCOUNT 1.

Direct Investment 2.

Portfolio In~estment 3, Olher Investment a'publlc Sector Long Term b Other Public Sector Capital c. Commercial Banks d. Other Assets e Other Liabilities 75.29 39.67 (062) 36.24 60.64 0.00 (26.98) (13 59) 15.17 56.14 54.30 3270 (3086) 35.84 000 (64.93) (758) '81 60.50 8498 9.38 (33.86) 2748 000 (92.15) 2033 10 48 32.29 70.67 (666) (31.72) 28.78 000 (7695) (5.11) 2156 3.
NET ERRORS AND OMISSIONS 1978 50.22 3971 5025 4.
OVERALL BALANCE 9,34 33.85 7.34 '15.B3l 5. FINANCING Change In Special Drawing ~Ighls Change in Reserve Position With the Fund Change in GoYernment Foreign Assets Change in imputed Reserves ('.34) 0.00 0.00 (4.34) (5.00) (33.BS) 0.00 000 467 (3852) (7.34) 000 0.00 (130) (6.04) 15.83 000 0.00 1.08 1475 27 161.09 5194 1021 9894 11 28 ODO 2383 16.63 'H 20 3309 38.14 (36.14) 004 000 (2036) (18.62) 78.28 69.95 10.28) 661 (3.15) (2.81) (33 59) 658 39,58 98.75 143.75 4.82 (5162) (1798) 0.00 (5J 89) (3022) 4747 2281 2261 36.46 19.40 (36.23) ).00 0.00 123 (3746) (19.40) 3.00 0.00 (4 81) (14.59) 145.61 14969 1.11 (5.19) (59B) 0.00 (47.41 ) (18.28) 6648 205 19.09 9.09 0 0 (535) 14.44 TABLE 14 COMMONWEALTH OF DOMINICA SELECTED ECONOMiC INDICATORS UNIT 2001 2002 2003 2004 2005 2006 2007 · 2008 " CURRENT PRICES GVA at B:u:ic Prices GVA OIl Basic Prices DfOllllth 17fte GOP at Marlull Prices GOP:l1 marlrer orices arowth rate GNI at Mllrkel Prices Per Caofta GVA at Basic Prices Por C<JDlrOi GOP 'II M",*.t Prices Per CaD;ta GNI 31 Market Priees CONSTANT PRICES OVA 31 Basic Prices GVA 011 Basic Prlc"s growtll rirte GOP at Markel.
Prices GOP al market p~iC'''$ Qrowrh rate GNI at Market Prins Per Capita GVA af Basic Prices P., C.aJra GDP at Marl<"t &>ric ...

Per Capita GNI at Market Prices OTHER INDICATORS Mid Yeer Populeti<;m Value of Exports (FOB) Value of Domestic ExporTs(FOB Val_orhn Its (CIFl Visible Tradll Bal.
:mcII Balance of Payments CUrTVnt Alc Balance Balance D( Pa men I"'· C..DiI..1& Financlol Alc 8al:>nce A riculll/ral ExoorTS Banana Exnorts Total Banana Exoort ReV!tnl/e ConstrucriOll/moorts No of COllstruction Sldrts Value of Construction Starts CDnsumer Price Index (hn.
2'001=10/), Av.,,,",, ""riod Food Only Index I"b 1994""00, Average riod Inflation Rate Imnliclt De"~to, of GVA 1990..100) Govarnment Racur,..nt Revenl/e Governmenl Recurrent EKPenditl/r8 Govemme1l1 current account balance TDtal Passenyer Arrivals TOl/rilil ArrivalS Crusie Ship Pauengers Excursionists Total Visitors TOtdl Tourism Expenditl/r8 Cruise Shio Calls EIl1CtridlV Genera/ed ElectridlV COllSume<!
Water ConSl/med Commerci<ll Bank Loans (Outstanding) Ee$ M % chlloce ECSM "10 chanae EeSM EC' EC' EC' Ee$ M %cha" II EC$ M %chan e ECS M 'C' 'C, EC' NO EC S M EC $ hi I;CSM EC$M EC $ M I;CSM I;C $ M TQNNES Ee s ttl EeSM NO EC$M INDEX INOI;X Y. INDI;X ECSM EC S M EC$M NO NO NO NO NO EC $M NO 000 000 KWH 000000 KWH 000 000 O1Il1one EC $ M 641.27 4.88 807.98 4.92 729.73 9 072 11,430 10,323 442.48 3.33 557.50 3.31 503.52 6259 7,881 7.123 70.691) 111.86 104.62 448.63 f336.m ·4,16 592.37 6.25 560.60 6528 8,342 7,895 71,008 112.03 109.31 454.10 1342.07> 1138.911 152.30 34.36 12852 20.22 42.28 125 36.37 109.06 112.77 2.60 143.88 281.21 239.12 42.09 121,450 84.041 379,643 927 464.611 185.34 314 85.42 69.57 720.16 601.39 711.32 770.J3 6.65 8:~ 1429.93) 1256.491- 107.98 102.96 645.90 "37.92 /298.07 253.28 286.94 28.46 8,465 12.54 55.70 147 53.97 112.58 118.79 3.23 149.69 298.66 256.29 42.37 31.3.5 10,934 17.07 74};6 125 65.16 119.74 132.66 6.36 157.18 315.14 252.74 62.40 113,977 117,314 81,070 84,313 354.515 380,671 789 858 436374 465842 175.76 192.87 252 86.38 71.49 750.54 644.63 211 87.50
 73.67 787.85 710.R6 607.48 (2.2T1 718.60 (1.85l 651.35 a 565 10,132 9269 437.35 14.16\ 517.35 13.751 473.25 6,167 7295 6,673 70922 118.04 112.81 355.02 f236.98\ 1131.72\ 123.82 38.72 19061 22.23 43.23 91 23.00 100.46 100.91 1.58 138.90 202.32 233.80 575.24 (5.311 688.10 f4.24' 619.30 8173 9771 8799 415.15 /5.0.\ 496.60 / 5.21
6.539 70.352 108.00 104.28 345.45 611.44 5.21 770.08 8.52 684.56 8,683 10,936 9722 428.21 3.05 539.31 6.28 479.42 6081 7,659 6,808 70,417 111.75 107.05 392.03 1198.•6l f237.451 1280.281 1127.•51 1143.56\ 303.84 111.48 38.26 18.379 21.99 27.00 133 32.77 100.64 102.46 0.18 138.56 192.90 229.21 111.21 31.06 11956 15.93 34.27 117 31.14 102.07 102.85 1.42 139.85 204.30 210.19 131.48> 136.31) f5 .•9) 108,800 66,393 207,621 1 979 275,999 125.35 231 80,97 63.91 566.70 546.75 109,383 69,193 136,859 1674 21)7,726 123.32 187 80.13 64.19 555.56 529.09 116.308 73,190 177,044 3928 254,162 141.15 206 78.43 62.74 622.33 505.B8 28 96.49 36.15 14484 19.58 39.19 149 37.87 104.54 105.72 2.42 142.79 234.60 218.40 16.20 122,288 80.087 383,614 2577 466,278 163.70 299 79.23 66.42 590.01 501.30 ,I Ie;; t (Cl I.
CHART 1: GOP AT MARKET PRICES IN CURRENT AND CONSTANT PRICES 1999 - 2008 1200.00-('1- - - - - .
1000.00- 800.00 N ill EC$ MILLION 600.00 400.00 200.00 0.00 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 YEAR 1--=.----::=:::1 ~constant ~ 1------------ I CHART 2: SECTORAL CONTRIBUTION OF GVA IN CONSTANT PRICES 2008 Government Services Other Services Agriculture Real Estate & Housing I I w a Banks & Insurance Construction Communications Wholesaie & Retail Trade Transport Hotels & Restaurants • • CHART 3: RATE OF GROWTH OF GVA IN CURRENT AND CONSTANT PRICES: 1999 - 2008 10.00,-· -.
8.00 W f-" 8 ~ n. 6.00 I-- I 'oo-~---~_·--·_--;-.

- _..--,-4-, -- - ~ 4.00 1 --....." ' - - - ..Jtr""'" ...... .- _ .... - - LLA ~ / .... , 0.00 ~~;--.-2000 \ -2.00 -4.00 -6.00 .L' , _ J 2001 2002 1j003 2004 2005 2006 2007 2008 , -~ 1 - - - - - L - Current Prices ..- -_ .

- - - --.

-Constant Prices YEAR , -------j Chart 4: CURRENT ACCOUNT BALANCE 2001 - 2008 0.00 -r"-----{; -50.00-1/ -100.00 W tv EC$Million-150.00 -200.00 -250.00 -300.00 1/ <00 7 <00 (j> <00 '" ~ <Oq.,.
YEAR <OOs <006' <00.> <OOa • • CHART 5: CAPITAL AND FINANCIAL ACCOUNT BALANCE 2001 - 2008 350.00,--- I w w c: g :E...U w 300.00 250.00 200.00 f------~----~----·---~,=_I - - ._ - - - - - - - - - - - - - - ,--- -_.._ - - .
- f----- , - - 'I I I 150.00 -_ .. - 100.00 ~ - - ..- r - , - - f - - - - -= - - - - - c-.-- 50.00 ' - - - - - - - - - - - - - - f--- H I c- 0.00 2001 2002 2003 2004 2005 2006 2007 2008 YEAR CHART 6: BALANCE OF PAYMENTS OVERALL BALANCE 2001 - 2008 42"00 I 40"00 38"00 36"00 34"00 32"00 30"00 28"00 26"00 24"00 22"00 20"00 18"00 16"00 14"00 12"00 10"00 w "" ""'"00 6~0 4"00 8"00 2m 0"00 +-- ~,oo ~"OO -14"00 l_~ -16"00 -18"00 " -20"00 -8"00 -10"00 -12"00 • , \J r-+--- _ __-+--+"---1 \ I • ~ ' --::::,-_~~~_~~~_~;~_~;;~_ 2001 2002 2003 2004 2005 2006 2007 2008 YEAR '-BALANCE OF PAYMENTS OVERALL BALANCE I - - - - - - - -_ .
- - - - • • • • • • • ~erna{rtraJe Statistics rfra:ve{Statistics Consumer ~rice Index.. 1{ationa{flccounts - 'Economic inauators (jJaCance of(Payments c.PopuCation Statistics (j)emograpnic Statistics 'Education Statistics 'Environmenta{Statistics (}cncfer .W-atistics .

Sociallnauators 9diffennium (j)evefiJpment goals flgricu[ture St:ztistics Central Statistical Office Ministry of Finance and Social Security Tel (767)-265 3400 - 3407 Fax: (767)-449-91.28 Enluil: ~~ndnt£!·s:\vJoJn.dln Price: EC$2S.00 ~.
[i ~ , • •