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 telecommunications, tourism, and free trade zones. The economy is highly dependent upon the US, the destination for more than half of exports. Remittances from the US amount to about one-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 rebounded from the global recession in 2010-12 and remains one of the fastest growing in the region although its fiscal situation is weak; the fiscal deficit climbed from 2.6% in 2011 to approximately 8% in 2012. A tax reform package passed in November 2012 aims to narrow this deficit.
GDP (purchasing power parity): GDP (official exchange rate): GDP - real growth rate: GDP - per capita (PPP): GDP - composition, by end use: GDP - composition, by sector of origin: Agriculture - products: Industries: Industrial production growth rate: 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: Budget: Taxes and other revenues: Budget surplus (+) or deficit (-): Public debt: Fiscal year: 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: 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: 1) The information regarding Dominican Republic on this page is re-published from the 2014 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominican Republic Economy 2014 information contained here. All suggestions for corrections of any errors about Dominican Republic Economy 2014 should be addressed to the CIA.
$97.68 billion (2012 est.)
country comparison to the world: 75
note:
data are in 2012 US dollars
[see also: GDP country ranks ]
$58.2 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]
3.9% (2012 est.)
country comparison to the world: 88
[see also: GDP - real growth rate country ranks ]
$9,500 (2012 est.)
country comparison to the world: 119
note:
data are in 2012 US dollars
[see also: GDP - per capita country ranks ]
household consumption: 84.7%
[see also: GDP - composition, by end use - household consumption country ranks ]
government consumption:
8.1%
investment in fixed capital:
16.3%
investment in inventories:
0.1%
exports of goods and services:
24.8%
imports of goods and services:
-34%
agriculture: 6%
[see also: GDP - composition, by sector of origin - agriculture country ranks ]
industry:
29.3%
services:
64.7% (2012 est.)
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
1.4% (2012 est.)
country comparison to the world: 115
[see also: Industrial production growth rate country ranks ]
4.806 million (2012 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%
services:
63.1% (2005 est.)
14.3% (2012 est.)
country comparison to the world: 141
[see also: Unemployment rate country ranks ]
34.4% (2010 est.)
[see also: Population below poverty line country ranks ]
lowest 10%: 1.8%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%:
36.4% (2010 est.)
47.2 (2010 est.)
country comparison to the world: 30
[see also: Distribution of family income - Gini index country ranks ]
revenues: $8.224 billion
[see also: Budget revenues country ranks ]
expenditures:
$12.09 billion (2012 est.)
14.1% of GDP (2012 est.)
country comparison to the world: 200
[see also: Taxes and other revenues country ranks ]
-6.6% of GDP (2012 est.)
country comparison to the world: 183
[see also: Budget surplus (+) or deficit (-) country ranks ]
41.5% of GDP (2012 est.)
country comparison to the world: 85
[see also: Public debt country ranks ]
calendar year
3.7% (2012 est.)
country comparison to the world: 112
[see also: Inflation rate (consumer prices) country ranks ]
15.48% (31 December 2012 est.)
country comparison to the world: 37
[see also: Commercial bank prime lending rate country ranks ]
$4.738 billion (31 December 2012 est.)
country comparison to the world: 101
[see also: Stock of narrow money country ranks ]
$17.85 billion (31 December 2012 est.)
country comparison to the world: 88
[see also: Stock of broad money country ranks ]
$23.71 billion (31 December 2012 est.)
country comparison to the world: 72
[see also: Stock of domestic credit country ranks ]
$NA
[see also: Market value of publicly traded shares country ranks ]
$-4.037 billion (2012 est.)
country comparison to the world: 158
[see also: Current account balance country ranks ]
$9.079 billion (2012 est.)
country comparison to the world: 98
[see also: Exports country ranks ]
ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods
US 47%, Haiti 16.1%, China 4.3% (2012)
$17.76 billion (2012 est.)
country comparison to the world: 80
[see also: Imports country ranks ]
foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
US 43.3%, Venezuela 7.7%, China 6.3%, Mexico 5.3%, Colombia 4.1% (2012)
$3.579 billion (31 December 2012 est.)
country comparison to the world: 103
[see also: Reserves of foreign exchange and gold country ranks ]
$16.33 billion (31 December 2012 est.)
country comparison to the world: 84
[see also: Debt - external country ranks ]
$24.86 billion (31 December 2012 est.)
country comparison to the world: 64
[see also: Stock of direct foreign investment - at home country ranks ]
$59 million (31 December 2012 est.)
country comparison to the world: 91
[see also: Stock of direct foreign investment - abroad country ranks ]
Dominican pesos (DOP) per US dollar -
2) The rank that you see is the CIA reported rank, which may habe the following issues:
a) They assign increasing rank number, alphabetically for countries with the same value of the ranked item, whereas we assign them the same rank.
b) The CIA sometimes assignes counterintuitive ranks. For example, it assigns unemployment rates in increasing order, whereas we rank them in decreasing order
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This page was last modified 06-Nov-14