Dominica's GDP changed from approximately $73M in 1980 to $708M in 2024, showing an overall 869.9% sharply increased during the period.
The lowest GDP was recorded in 1980 at $73M, and the highest in 2024 at $708M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 5.3%.
For comparison, the average annual growth rate of Saint Lucia was 6.4%, and that of Saint Vincent and the Grenadines was 5.9%.
Overview of Dominica's GDP (1980–2024)
The Gross Domestic Product (GDP) of Dominica recorded a 869.9% sharply increased from 1980 to 2024.
The average GDP during this period was $357M 311K, and the median was $340M.
GDP fluctuated within a range of $635M, with a standard deviation of $175M 179K.
The average annual change was $13M 200K.
Dominica GDP from 1980 to 2024
The total market value of goods and services produced annually in Dominica.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1980, $73M
- Highest GDP: 2024, $708M
- Most Recent GDP: 2024, $708M
Notable Annual GDP Changes
- 2019: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Dominica's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $612M → $504M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $421M → $489M
- Outcome: sharply increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $333M → $340M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $303M → $322M
- Outcome: increased
Key Economic Indicators of Dominica (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 73M | $ 0 | $ 0 | $ 124M | 13.383 % | 0 % | 0 % | 0 % | 0 person |
1981 | $ 82M | $ 1,112.64 | $ 2,043.74 | $ 151M | 10.829 % | 0 % | 0 % | 0 % | 74,000 people |
1982 | $ 90M | $ 1,217.57 | $ 2,267.76 | $ 167M | 4.128 % | 0 % | 0 % | 0 % | 74,000 people |
1983 | $ 99M | $ 1,346.69 | $ 2,425.52 | $ 178M | 2.556 % | 0 % | 0 % | 0 % | 73,000 people |
1984 | $ 109M | $ 1,495.27 | $ 2,627.99 | $ 192M | 4.197 % | 0 % | 0 % | 0 % | 73,000 people |
1985 | $ 119M | $ 1,642.75 | $ 2,759.54 | $ 201M | 1.421 % | 0 % | 0 % | 0 % | 73,000 people |
1986 | $ 135M | $ 1,864.89 | $ 3,025.10 | $ 219M | 7.073 % | 0 % | 0 % | 0 % | 72,000 people |
1987 | $ 152M | $ 2,102.96 | $ 3,307.50 | $ 239M | 6.308 % | 0 % | 0 % | 0 % | 72,000 people |
1988 | $ 171M | $ 2,377.90 | $ 3,705.12 | $ 267M | 7.817 % | 0 % | 0 % | 0 % | 72,000 people |
1989 | $ 185M | $ 2,582.18 | $ 3,856.93 | $ 277M | -0.191 % | 0 % | 0 % | 0 % | 72,000 people |
1990 | $ 201M | $ 2,819.55 | $ 4,233.31 | $ 302M | 5.419 % | 0 % | 0 % | -3.359 % | 71,000 people |
1991 | $ 220M | $ 3,087.30 | $ 4,451.44 | $ 317M | 1.346 % | 0 % | 0 % | -1.436 % | 71,000 people |
1992 | $ 234M | $ 3,287.85 | $ 4,644.93 | $ 331M | 2.03 % | 0 % | 0 % | -0.432 % | 71,000 people |
1993 | $ 246M | $ 3,448.67 | $ 4,857.42 | $ 346M | 2.162 % | 0 % | 0 % | 0.378 % | 71,000 people |
1994 | $ 264M | $ 3,713.11 | $ 4,962.43 | $ 353M | 0.034 % | 0 % | 0 % | -1.526 % | 71,000 people |
1995 | $ 275M | $ 3,855.29 | $ 5,219.55 | $ 372M | 3.03 % | 0 % | 0 % | -1.003 % | 71,000 people |
1996 | $ 292M | $ 4,104.42 | $ 5,479.69 | $ 390M | 3.105 % | 0 % | 0 % | 0.377 % | 71,000 people |
1997 | $ 303M | $ 4,254.37 | $ 5,695.52 | $ 406M | 2.185 % | 0 % | 0 % | -0.182 % | 71,000 people |
1998 | $ 322M | $ 4,526.68 | $ 5,976.40 | $ 426M | 3.774 % | 0 % | 0 % | -3.997 % | 71,000 people |
1999 | $ 332M | $ 4,657.56 | $ 6,081.97 | $ 433M | 0.355 % | 0 % | 0 % | -6.057 % | 71,000 people |
