Overview: The economy is largely dependent on the agricultural sector, which employs 50% of the labor force and provides about half of export revenues. The principal commercial crop is sugarcane, followed by coffee, cocoa, and tobacco. Industry is based on the processing of agricultural products, durable consumer goods, minerals, and chemicals. Rapid growth of free trade zones has established a significant expansion of manufacturing for export, especially clothing apparel. Over the past decade tourism has also increased in importance and is a significant earner of foreign exchange and a source of new jobs. Unemployment is officially reported at about 25%, but underemployment may be much higher.

GDP: $5.6 billion, per capita $800; real growth rate 8.1% (1987 est.)

Inflation rate (consumer prices): 16.7% (1987)

Unemployment rate: 25.8% (1986)

Budget: revenues $796 million; expenditures $898 million, including capital expenditures of $405 million (1987)

Exports: $711 million (f.o.b., 1987); @m5commodities--sugar, coffee, cocoa, gold, ferronickel; @m5partners--US, including Puerto Rico, 74%

Imports: $1.8 billion (c.i.f., 1987); @m5commodities--foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals; @m5partners--US, including Puerto Rico, 37% (1985)

External debt: $3.7 billion (December 1987)

Industrial production: growth rate 30% (1987 est.)

Electricity: 1,331,000 kW capacity; 3,968 million kWh produced, 560 kWh per capita (1988)

Industries: tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco

Agriculture: sugarcane, coffee, rice, cocoa, tobacco, corn

Aid: US commitments, including Ex-Im (FY70-87), $1.0 billion; Western (non-US) countries, ODA and OOF bilateral commitments (1970-86), $481 million

Currency: Dominican peso (plural--pesos); 1 Dominican peso (RD$) = 100 centavos

Exchange rates: Dominican pesos per US$1--6.4194 (January 1989), 6.1396 (1988), 3.8448 (1987), 2.9043 (1986), 3.1126 (1985)

Fiscal year: calendar year

NOTE: The information regarding Dominican Republic on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominican Republic Economy 1989 information contained here. All suggestions for corrections of any errors about Dominican Republic Economy 1989 should be addressed to the CIA.