Economy - overview:
The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but 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 economy is highly dependent upon the US, the destination for nearly 60% of exports. Remittances from the US amount to about a tenth of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The growth of the Dominican Republic's economy slowed in 2008-09 because of the global recession, but still remained one of the fastest growing in the region.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition by sector: Labor force: Labor force - by occupation: Unemployment rate: Population below poverty line: Household income or consumption by percentage share: Distribution of family income - Gini index: Investment (gross fixed): Budget: Public debt: Inflation rate (consumer prices): Commercial bank prime lending rate: Stock of narrow money: Stock of broad money: Stock of domestic credit: Market value of publicly traded shares: Agriculture - products: Industries: Industrial production growth rate: Electricity - production: Electricity - consumption: Electricity - exports: Electricity - imports: Oil - production: Oil - consumption: Oil - exports: Oil - imports: Oil - proved reserves: Natural gas - production: Natural gas - consumption: Natural gas - exports: Natural gas - imports: Natural gas - proved reserves: Current account balance: Exports: Exports - commodities: Exports - partners: Imports: Imports - commodities: Imports - partners: Reserves of foreign exchange and gold: Debt - external: Stock of direct foreign investment - at home: Stock of direct foreign investment - abroad: Exchange rates:
NOTE: The information regarding Dominican Republic on this page is re-published from the 2011 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominican Republic Economy 2011 information contained here. All suggestions for corrections of any errors about Dominican Republic Economy 2011 should be addressed to the CIA.
$84.94 billion (2010 est.)
country comparison to the world: 76
note:
data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]
$50.87 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]
4.2% (2010 est.)
country comparison to the world: 72
[see also: GDP - real growth rate country ranks ]
$8,600 (2010 est.)
country comparison to the world: 120
note:
data are in 2010 US dollars
[see also: GDP - per capita country ranks ]
agriculture: 11.5%
[see also: GDP - composition by sector - agriculture country ranks ]
industry:
21%
[see also: GDP - composition by sector - industry country ranks ]
services:
67.5% (2009 est.)
[see also: GDP - composition by sector - services country ranks ]
4.498 million (2009 est.)
country comparison to the world: 80
[see also: Labor force country ranks ]
agriculture: 14.6%
[see also: Labor force - by occupation - agriculture country ranks ]
industry:
22.3%
[see also: Labor force - by occupation - industry country ranks ]
services:
63.1% (2005)
[see also: Labor force - by occupation - services country ranks ]
14.2% (2010 est.)
country comparison to the world: 144
[see also: Unemployment rate country ranks ]
42.2% (2004)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.5%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
38.7% (2005)
[see also: Household income or consumption by percentage share - highest 10% country ranks ]
49.9 (2005)
country comparison to the world: 25
[see also: Distribution of family income - Gini index country ranks ]
15.4% of GDP (2009 est.)
country comparison to the world: 126
[see also: Investment (gross fixed) country ranks ]
revenues: $7.11 billion
[see also: Budget - revenues country ranks ]
expenditures:
$8.634 billion (2009 est.)
[see also: Budget - expenditures country ranks ]
41.7% of GDP (2010 est.)
country comparison to the world: 64
[see also: Public debt country ranks ]
6.3% (2010 est.)
country comparison to the world: 166
[see also: Inflation rate (consumer prices) country ranks ]
18.14% (31 December 2009 est.)
country comparison to the world: 18
[see also: Commercial bank prime lending rate country ranks ]
$4.734 billion (31 December 2010 est)
[see also: Stock of narrow money country ranks ]
$15.71 billion (31 December 2010 est.)
[see also: Stock of broad money country ranks ]
$21.63 billion (31 December 2010 est.)
country comparison to the world: 77
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs
tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco
1.5% (2009 est.)
country comparison to the world: 139
[see also: Industrial production growth rate country ranks ]
14.02 billion kWh (2007 est.)
country comparison to the world: 82
[see also: Electricity - production country ranks ]
12.7 billion kWh (2007 est.)
country comparison to the world: 80
[see also: Electricity - consumption country ranks ]
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]
0 bbl/day (2008 est.)
country comparison to the world: 181
[see also: Oil - production country ranks ]
118,000 bbl/day (2009 est.)
country comparison to the world: 73
[see also: Oil - consumption country ranks ]
0 bbl/day (2007 est.)
country comparison to the world: 200
[see also: Oil - exports country ranks ]
116,200 bbl/day (2007 est.)
country comparison to the world: 62
[see also: Oil - imports country ranks ]
0 bbl
country comparison to the world: 186
[see also: Oil - proved reserves country ranks ]
0 cu m (2008 est.)
country comparison to the world: 178
[see also: Natural gas - production country ranks ]
470 million cu m (2008 est.)
country comparison to the world: 95
[see also: Natural gas - consumption country ranks ]
0 cu m (2008 est.)
country comparison to the world: 64
[see also: Natural gas - exports country ranks ]
470 million cu m (2008 est.)
country comparison to the world: 60
[see also: Natural gas - imports country ranks ]
0 cu m (1 January 2010 est.)
country comparison to the world: 186
[see also: Natural gas - proved reserves country ranks ]
-$3.862 billion (2010 est.)
country comparison to the world: 167
[see also: Current account balance country ranks ]
$6.161 billion (2010 est.)
country comparison to the world: 102
[see also: Exports country ranks ]
ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods
US 54.08%, Haiti 9.78% (2009)
$14.53 billion (2010 est.)
country comparison to the world: 80
[see also: Imports country ranks ]
foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
US 42.79%, Venezuela 7.04%, Mexico 6.17%, Colombia 5.59% (2009)
$2.705 billion (31 December 2010 est.)
country comparison to the world: 88
[see also: Reserves of foreign exchange and gold country ranks ]
$13.09 billion (31 December 2010 est.)
country comparison to the world: 82
[see also: Debt - external country ranks ]
$19.45 billion (31 December 2010 est.)
country comparison to the world: 68
[see also: Stock of direct foreign investment - at home country ranks ]
$NA (31 December 2010 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]
Dominican pesos (DOP) per US dollar - 36.92 (2010), 36.027 (2009), 34.775 (2008), 33.113 (2007), 33.406 (2006)
This page was last modified 09-Feb-11