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Dominican Republic Economy 2011
https://theodora.com/wfb2011/dominican_republic/dominican_republic_economy.html
SOURCE: 2011 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on January 12, 2011

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):
$84.94 billion (2010 est.)
country comparison to the world: 76

$81.52 billion (2009 est.)
$78.76 billion (2008 est.)
note: data are in 2010 US dollars
[see also: GDP (purchasing power parity) country ranks ]

GDP (official exchange rate):
$50.87 billion (2009 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4.2% (2010 est.)
country comparison to the world: 72

3.5% (2009 est.)
5.3% (2008 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$8,600 (2010 est.)
country comparison to the world: 120

$8,400 (2009 est.)
$8,200 (2008 est.)
note: data are in 2010 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
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 ]

Labor force:
4.498 million (2009 est.)
country comparison to the world: 80
[see also: Labor force country ranks ]

Labor force - by occupation:
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 ]

Unemployment rate:
14.2% (2010 est.)
country comparison to the world: 144

14.9% (2009 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
42.2% (2004)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
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 ]

Distribution of family income - Gini index:
49.9 (2005)
country comparison to the world: 25

47.4 (1998)
[see also: Distribution of family income - Gini index country ranks ]

Investment (gross fixed):
15.4% of GDP (2009 est.)
country comparison to the world: 126
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $7.11 billion
[see also: Budget - revenues country ranks ]
expenditures: $8.634 billion (2009 est.)
[see also: Budget - expenditures country ranks ]

Public debt:
41.7% of GDP (2010 est.)
country comparison to the world: 64

40.8% of GDP (2009 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
6.3% (2010 est.)
country comparison to the world: 166

1.4% (2009 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
18.14% (31 December 2009 est.)
country comparison to the world: 18

19.95% (31 December 2008 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.734 billion (31 December 2010 est)

$4.079 billion (31 December 2009 est)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$15.71 billion (31 December 2010 est.)

$14 billion (31 December 2009 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$21.63 billion (31 December 2010 est.)
country comparison to the world: 77

$18.91 billion (31 December 2009 est.)
[see also: Stock of domestic credit country ranks ]

Market value of publicly traded shares:
$NA
[see also: Market value of publicly traded shares country ranks ]

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:
1.5% (2009 est.)
country comparison to the world: 139
[see also: Industrial production growth rate country ranks ]

Electricity - production:
14.02 billion kWh (2007 est.)
country comparison to the world: 82
[see also: Electricity - production country ranks ]

Electricity - consumption:
12.7 billion kWh (2007 est.)
country comparison to the world: 80
[see also: Electricity - consumption country ranks ]

Electricity - exports:
0 kWh (2008 est.)
[see also: Electricity - exports country ranks ]

Electricity - imports:
0 kWh (2008 est.)
[see also: Electricity - imports country ranks ]

Oil - production:
0 bbl/day (2008 est.)
country comparison to the world: 181
[see also: Oil - production country ranks ]

Oil - consumption:
118,000 bbl/day (2009 est.)
country comparison to the world: 73
[see also: Oil - consumption country ranks ]

Oil - exports:
0 bbl/day (2007 est.)
country comparison to the world: 200
[see also: Oil - exports country ranks ]

Oil - imports:
116,200 bbl/day (2007 est.)
country comparison to the world: 62
[see also: Oil - imports country ranks ]

Oil - proved reserves:
0 bbl
country comparison to the world: 186
[see also: Oil - proved reserves country ranks ]

Natural gas - production:
0 cu m (2008 est.)
country comparison to the world: 178
[see also: Natural gas - production country ranks ]

Natural gas - consumption:
470 million cu m (2008 est.)
country comparison to the world: 95
[see also: Natural gas - consumption country ranks ]

Natural gas - exports:
0 cu m (2008 est.)
country comparison to the world: 64
[see also: Natural gas - exports country ranks ]

Natural gas - imports:
470 million cu m (2008 est.)
country comparison to the world: 60
[see also: Natural gas - imports country ranks ]

Natural gas - proved reserves:
0 cu m (1 January 2010 est.)
country comparison to the world: 186
[see also: Natural gas - proved reserves country ranks ]

Current account balance:
-$3.862 billion (2010 est.)
country comparison to the world: 167

-$2.328 billion (2009 est.)
[see also: Current account balance country ranks ]

Exports:
$6.161 billion (2010 est.)
country comparison to the world: 102

$5.462 billion (2009 est.)
[see also: Exports country ranks ]

Exports - commodities:
ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods

Exports - partners:
US 54.08%, Haiti 9.78% (2009)

Imports:
$14.53 billion (2010 est.)
country comparison to the world: 80

$12.28 billion (2009 est.)
[see also: Imports country ranks ]

Imports - commodities:
foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals

Imports - partners:
US 42.79%, Venezuela 7.04%, Mexico 6.17%, Colombia 5.59% (2009)

Reserves of foreign exchange and gold:
$2.705 billion (31 December 2010 est.)
country comparison to the world: 88

$2.905 billion (31 December 2009 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$13.09 billion (31 December 2010 est.)
country comparison to the world: 82

$11.04 billion (31 December 2009 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$19.45 billion (31 December 2010 est.)
country comparison to the world: 68

$17.95 billion (31 December 2009 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$NA (31 December 2010 est.)

$59 million (31 December 2009 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Dominican pesos (DOP) per US dollar - 36.92 (2010), 36.027 (2009), 34.775 (2008), 33.113 (2007), 33.406 (2006)


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.



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