SCALE & SIZE

Comparing Dominica to the United States, New York State, and New York City, the most obvious difference is scale and wealth. Dominica is a very small island economy with a population of about 74,000. At the same time, the United States has roughly 342 million people, New York State has nearly 20 million, and New York City has about 8.48 million.

GROWTH PATTERNS

Dominica’s GDP per capita declined from 2016 to 2020 before rising again by 2024, suggesting more fragile growth. The United States and New York experienced stronger and more consistent growth over the same period, highlighting the income gap between a small developing economy and a rich advanced one.

INFLATION

 Dominica’s inflation rate rose gradually from 1.6% in 2016 to 1.9% in 2020 and 2.9% in 2024. The U.S., New York State, and New York City also had low inflation around 1–2% in 2016 and 2020. By 2024, however, inflation rose more sharply in the U.S., especially in New York. New York State’s inflation was about 4.7% and New York City’s about 3.2%, both higher than Dominica’s 2.9%. This suggests that wealthier economies can face stronger price pressures after shocks like the pandemic, while Dominica’s lower inflation may reflect slower demand growth.

UNEMPLOYMENT

Labor market outcomes show another major difference. Dominica’s unemployment rate is about 13.04%, which is very high. In contrast, unemployment in 2024 was around 4% in the U.S., 4.3% in New York State, and 4.2% in New York City, levels close to full employment.

DEMOGRAPHICS

Dominica has a very small population and a relatively young age structure, which creates a high dependency ratio and puts pressure on its working population. The United States and New York have much larger and more diverse populations, supporting broader labor markets and economic activity.

GROWTH

 Economic growth in Dominica has been uneven, with declines before recovering by 2024, showing a more fragile growth path. The U.S. and New York, by comparison, have experienced stronger and more consistent growth over time.

INEQUALITY

There is a large income gap between Dominica and richer economies. GDP per capita in the United States and New York is roughly ten times higher than in Dominica, highlighting major differences in income and economic opportunity. 

RESILIENCE

Dominica shows resilience through relatively stable inflation and its ability to recover after economic setbacks. However, its small size and reliance on sectors like tourism and agriculture make it more exposed to external shocks than the more diversified U.S. and New York economies.

SOURCES:

Administrator #2. “Unemployment in Dominica.” DOM767, 23 June 2025, www.dom767.com/dompedia/unemployment-in-dominica/.

Bureau of Labor Statistics. “Unemployment Rate Rises to Record High 14.7 Percent in April 2020 : The Economics Daily: U.S. Bureau of Labor Statistics.” Www.bls.gov, 13 May 2020, www.bls.gov/opub/ted/2020/unemployment-rate-rises-to-record-high-14-point-7-percent-in-april-2020.htm.

“New York City GDP (2001-2023).” Macrotrends.net, 2023, www.macrotrends.net/3823/new-york-city-gdp.

“New York: Per Capita Real GDP 2000-2019.” Statista, www.statista.com/statistics/304629/new-york-gdp-per-capita/.

“Real Gross Domestic Product: All Industry Total in New York.” Stlouisfed.org, 2024, fred.stlouisfed.org/series/NYRGSP.

REGIONAL and STATE UNEMPLOYMENT -2016 ANNUAL AVERAGES. 2017.

“World Bank Open Data.” World Bank Open Data, 2015, data.worldbank.org/indicator/NY.GDP.MKTP.KD?end=2024&locations=US&name_desc=true&start=2016.