Balance of Payments: Current account balance (credit less debit) for Dominica
DMABCAGDPBP6 • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
-13.20
Year-over-Year Change
-71.71%
Date Range
1/1/2000 - 1/1/2030
Summary
The Balance of Payments: Current account balance (credit less debit) for Dominica measures the difference between the country's total exports and imports of goods, services, and income. It's a key indicator of Dominica's economic performance and external trade position.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This series represents Dominica's current account balance, which tracks the net flow of goods, services, and income between the country and the rest of the world. It's an important macroeconomic indicator used by policymakers and analysts to assess a country's trade competitiveness and ability to finance its external obligations.
Methodology
The data is collected and calculated by the International Monetary Fund (IMF) based on Dominica's balance of payments reporting.
Historical Context
The current account balance is closely monitored by investors, policymakers, and international institutions like the IMF to evaluate Dominica's economic stability and external sector performance.
Key Facts
- Dominica had a current account deficit of $57 million in 2021.
- The current account deficit was equivalent to 10.4% of Dominica's GDP in 2021.
- Tourism is a major contributor to Dominica's current account, accounting for over 50% of exports.
FAQs
Q: What does this economic trend measure?
A: The Balance of Payments: Current account balance (credit less debit) for Dominica measures the difference between the country's total exports and imports of goods, services, and income.
Q: Why is this trend relevant for users or analysts?
A: The current account balance is a key indicator of Dominica's economic performance and external trade position, providing insights into the country's competitiveness and ability to finance its external obligations.
Q: How is this data collected or calculated?
A: The data is collected and calculated by the International Monetary Fund (IMF) based on Dominica's balance of payments reporting.
Q: How is this trend used in economic policy?
A: The current account balance is closely monitored by investors, policymakers, and international institutions like the IMF to evaluate Dominica's economic stability and external sector performance, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is subject to the reporting schedule and publication timelines of the IMF, which may result in some delay in the availability of the most recent figures.
Related Trends
Number of Identified Exporters to Dominica from Montana
MTDMAA475SCEN
Value of Exports to Dominica from Michigan
MIDMAA052SCEN
Value of Exports to Dominica from Colorado
CODMAA052SCEN
Purchasing Power Parity, Share of World for Dominica
DMAPPPSH
Gross Domestic Product for Dominica
DMANGDPRPCH
Private Credit by Deposit Money Banks and Other Financial Institutions to GDP for Dominica
DDDI12DMA156NWDB
Citation
U.S. Federal Reserve, Balance of Payments: Current account balance (credit less debit) for Dominica (DMABCAGDPBP6), retrieved from FRED.