June 2020 Economic and Financial Review
June 2020 Economic and Financial Review THE COMMONWEALTH OF DOMINICA
a general decline in global demand.
Dominica Consumer Price Index Percentage Change
Total production is estimated to have
%
6.0
declined largely due to 12.0 per cent drop in
4.0
2.0
paints and a 4.0 per cent decline in
0.0
beverages.
-2.0
-4.0
18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2
All Items Food & Non-Alchoholic Beverages Energy
Dominica Visitor Arrivals
Note: Energy includes Housing, Utilities, Gas & Fuels
Thousands
150.0
sector benefited from increased public
100.0
investment.
50.0
Deflationary pressures were observed in
0.0
18 Q1 18 Q2 18 Q3 18 Q4 19 Q1 19 Q2 19 Q3 19 Q4 20 Q1 20 Q2
the first half of 2020. The consumer price
Stay-overs Cruise Ship Passengers
Yacht Passengers Excursionists
index decreased by 0.7 per cent, associated
Given that the country’s borders were closed
with declines in the prices of transport
for the entire second quarter due to the
(3.2 per cent), hotels and restaurants
pandemic, the total number of visitor
(0.6 per cent) and housing, utilities, gas and
arrivals is estimated to have decreased by
fuels (0.4 per cent).
34.0 per cent to 136,273. This fall largely
reflected declines of 24.0 per cent and 58.3
Fiscal Developments
per cent in cruise ship passengers and stay-
The fiscal operations of the government
over arrivals, respectively. The largest
resulted in an overall deficit of $91.6m in
declines in the stay-over category were from
the first half of 2020, a significant
the Caribbean (66.3 per cent), Europe (48.9
improvement from one of $233.6m
per cent) and the USA (41.9 per cent).
recorded in the corresponding period of
Agriculture was the only sector to register
Similarly, a primary deficit of
2019.
an increase in value added for the first half
$71.7m was realized, up from one of
of the year. Although the pandemic resulted
$215.8m. The improvement in the fiscal
in a downturn in economic activity, it led to
balances was mainly driven by a reduction
an increase in agricultural output as the
in expenditure, which outpaced the decline
25
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