Economy Of Dominican Republic - Dominican Republic Information

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Economy Of Dominican Republic
Dominican Republic Information - Country Guides

Economy overview	The Dominican Republic is a Caribbean representative democracy which enjoyed GDP growth of more than 7% in 1998-2000. Growth subsequently plummeted as part of the global economic slowdown. Although the country has long been viewed primarily as an exporter of sugar, coffee, and tobacco, in recent years the service sector has overtaken agriculture as the economy's largest employer, due to growth in tourism and free trade zones. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% enjoys nearly 40% of national income. Growth turned negative in 2003 with reduced tourism, a major bank fraud, and limited growth in the US economy, the source of 87% of export revenues. Resumption of a badly needed IMF loan was slowed due to government repurchase of electrical power plants.
GDP	purchasing power parity - $52.71 billion (2004 est.)
GDP - real growth rate	-0.7% (2004 est.)
GDP - per capita	purchasing power parity - $6,000 (2004 est.)
GDP - composition by sector	agriculture: 10.7% industry: 31.5% services: 57.8% (2003)
Investment gross fixed	19.9% of GDP (2004 est.)
Population below poverty line	25%
Household income or consumption by percentage share	lowest 10%: 2.1% highest 10%: 37.9% (1998)
Distribution of family income - Gini index	47.4 (1998)
Inflation rate consumer prices	27.5% (2004 est.)
Labor force	2.3 million - 2.6 million (2000 est.)
Labor force by occupation	agriculture 17%, industry 24.3%, services and government 58.7% (1998 est.)
Unemployment rate	16.5% (2004 est.)
Budget	revenues: $2.601 billion expenditures: $3.353 billion, including capital expenditures of $1.1 billion (2004 est.)
Public debt	59.4% of GDP (2004 est.)
Agriculture products	sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs
Industries	tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco
Industrial production growth rate	2% (2001 est.)
Electricity production	9.186 billion kWh (2001)
Electricity production by source	fossil fuel: 92% hydro: 7.6% other: 0.4% (2001) nuclear: 0%
Electricity consumption	8.543 billion kWh (2001)
Electricity exports	0 kWh (2001)
Electricity imports	0 kWh (2001)
Oil production	0 bbl/day (2001 est.)
Oil consumption	129,000 bbl/day (2001 est.)
Oil exports	NA (2001)
Oil imports	NA (2001)
Oil proved reserves
Natural gas production
Natural gas consumption
Natural gas exports
Natural gas imports
Natural gas proved reserves
Current account balance	$867 million (2004 est.)
Exports	$5.524 billion f.o.b. (2004 est.)
Exports commodities	ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods
Exports partners	US 83.8%, Canada 1.5%, Haiti 1.5% (2003)
Imports	$7.911 billion f.o.b. (2003 est.)
Imports commodities	foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
Imports partners	US 52.1%, Venezuela 11.9%, Mexico 4.7%, Colombia 4.2% (2003)
Reserves of foreign exchange gold	$261 million (2004 est.)
Debt external	$6.567 billion (2004 est.)
Economic aid recipient	$239.6 million (1995)
Currency	Dominican peso (DOP)
Currency code	DOP
Exchange rates	Dominican pesos per US dollar - 30.8307 (2003), 18.6098 (2002), 16.9516 (2001), 16.415 (2000), 16.0331 (1999)
Fiscal year	calendar year

Dominican Flag Map Of Dominican Republic

Economy Of Dominican RepublicDominican Republic Information - Country Guides

Economy Of Dominican Republic
Dominican Republic Information - Country Guides