Latin America And The Caribbean: Stormy Recovery Path

Despite hurricane damage, average economic growth in the Caribbean is expected to top the Latin American average according to the IMF. However, Dominica's GDP is expected to decline and weak growth is likely in Puerto Rico and the U.S. Virgin Islands where pre-existing macroeconomic weaknesses were compounded by storm damage.

 
 
Source
Central bank

Eastern Caribbean Central Bank

International Reserves

USD 0.19 billion (2018)

International Monetary Fund (IMF), data retrieved October 2019

Gross Domestic Product - GDP

USD 0.5 billion (2018, estimate)

GDP (Purchasing Power Parity)

Intl$ 0.7 billion (2018, estimate)

Real GDP growth
2007 2008 2009 2010 2011 2012 2013
6.4% 7.1% -1.2% 0.7% -0.2% -1.1% 0.8%
2014 2015 2016* 2017* 2018*    
4.2% -3.7% 2.6% -5.4% -12%    

*Estimate

GDP per capita - current prices

USD 6,977.1 (2018, estimate)

GDP per capita - PPP

Intl$ 9,886.1 (2018, estimate)

GDP (PPP) - share of world total
0.001% (2019, estimate)
 
 
Source
GDP - composition by sector
  • agriculture: 12.7% 
  • industry: 12.1% 
  • services: 55.1%

(2018 estimate)

Gross domestic expenditure on R&D; (% of GDP)

N/A

 

Inflation
2015

2016*

2017* 2018* 2019*
-0.9% 0% 0.6% 1.4% 1.6%

*Estimate

Unemployment rate
2015 2016 2017 2018 2019
N/A N/A N/A N/A N/A

*Estimate

Household saving rates

N/A

 

Public debt (General government gross debt as a % of GDP)
2015 2016 2017 2018 2019*
75.3% 75% 75.5% 74.1% 76.8%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2015 2016 2017 2018 2019*
11.9% 14.8% 0.6% -12.9% -7.9%

*Estimate

Government bond ratings

Standard & Poor's: N/A

Moody': N/A

Standard & Poor's / Moody's 

Market value of publicly traded shares
2016 2017 2018
N/A N/A N/A
Largest companies

N/A

 
 
Source
Current account balance

USD -0.2 billion (2018 estimate)

Current account balance by percentage of GDP

-43.4 % (2018 estimate)

Exports as percent of GDP (Exports of goods and services)

47% (2018)

Shares in world total merchandising export

0.0001% (2018)

Shares in world total commercial services export

0.003% (2018)

Total exports

USD 175.1 million (2018 estimate)

Export commodities

Bananas, soap, bay oil, vegetables, grapefruit, oranges

Total imports

USD 403.6 million (2018 estimate)

 
 
Source
Import commodities

Manufactured goods, machinery and equipment, food, chemicals

Exports - major partners

Saudi Arabia 42.6%, Trinidad and Tobago 9.3%, Jamaica 8.1%, St. Kitts and Nevis 7.1%, Guyana 6.7% (2017)

Imports - major partners

US 61.3%, Trinidad and Tobago 9.8% (2017)

FDI inflows
2016 2017 2018
USD 41 million USD -2.1  million USD -37 million
FDI outflows
2016 2017 2018
USD 0.0 million USD 0.0 million USD 0.0 million
Value of cross-border M&A, by country of purchaser
2012 2013 2014 2015
N/A N/A N/A N/A
Cross-border M&A deals worth over $3 billion completed in 2014

N/A

Cross-border M&A deals worth over $3 billion completed in 2015

N/A

Best countries for doing business

Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.

Overall ranking:

111 out of 190 countries

​Subcategories:
Starting a Business: 71 out of 190 countries
Dealing with Construction Permits: 83 out of 190 countries
Getting Electricity: 57 out of 190 countries
Registering Property: 179 out of 190 countries
Getting Credit: 152 out of 190 countries
Protecting Minority Investors: 79 out of 190 countries
Paying Taxes: 83 out of 190 countries
Trading across Borders: 91 out of 190 countries
Enforcing Contracts: 95 out of 190 countries
Resolving Insolvency: 136 out of 190 countries

Global competitiveness ranking

N/A

Index of Economic Freedom

Ranking: 72 / Score: 63.6 (Moderately free)

(100=totally free 0=totally repressed)

 
 
Source
Time zone

UTC-4

Total area

751 sq km

Capital

Roseau

Currency

East Caribbean dollars (XCD)

Government type

Parliamentary republic

Languages

English (official), French patois

Religions

Roman Catholic 61.4%, Protestant 28.6% (includes Evangelical 6.7%, Seventh Day Adventist 6.1%, Pentecostal 5.6%, Baptist 4.1%, Methodist 3.7%, Church of God 1.2%, other 1.2%), Rastafarian 1.3%, Jehovah's Witness 1.2%, other 0.3%, none 6.1%, unspecified 1.

Total population
1990 2000 2010 20165 2020*
0.01 million 0.07 million 0.07 million 0.07 million 0.07 million

*Estimate

 
 
Source
Urban population as % of total population
1960 1980 2000 2018
37.8% 46.8% 65.3% 70.5%
Population median age

34 years

Population growth rate

0.17% (2018 estimate)

Life expectancy

77.4 years (2018 estimate)

Literacy

N/A

% of population living on less than $3.10 a day

N/A

Inequality of wealth distribution (Gini index)

N/A

Freedom House rating

Free
Political Rights: 1
Civil Liberties: 1 (2019)
(1 represents the most free, 7 the least free rating)

Source
Total telephone subscribers as % of population

Fixed: 3.7% Mobile: 105.8% (2018) 
(fixed-telephone subscribers and mobile-cellular subscribers)

Internet users as % of total population

69.62 % (2017)

Mercer Cost of living index

N/A

CO2 emissions

1.91 metric tons per capita (2014)

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