Central America and the Caribbean > Dominican Republic > Economy

View full size

Agriculture > products sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs
Aid as % of GDP	0.3%		[114th of 129]
Source: CIA World Factbook, 28 July 2005
Big Mac Index	$2.12		[40th of 65]
Source: calculated on the basis of data on ODA from OECD (Organisation for Economic Co-operation and Development), Development Assistance Committee. 2002. DAC Online. Database. Paris.; and data on GDP from World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Debt > External	$10,210,000,000.00		[76th of 136]
Source: The Economist.
Distribution of family income > Gini index	51.6		[2nd of 43]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economic freedom	1.9		[86th of 156]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Economy > Overview The Dominican Republic has enjoyed strong GDP growth since 2005, with double digit growth in 2006. In 2007, exports were bolstered by the nearly 50% increase in nickel prices; however, prices are expected to fall in 2008, contributing to a slowdown in GDP growth for the year. 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 economy is highly dependent upon the US, the source of nearly three-fourths of exports, and remittances represent about a tenth of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. With the help of strict fiscal targets agreed to in the 2004 renegotiation of an IMF standby loan, President FERNANDEZ has stabilized the country's financial situation, lowering inflation to less than 6%. A fiscal expansion is expected for 2008 prior to the elections in May and for Tropical Storm Noel reconstruction. Although the economy is growing at a respectable rate, high unemployment and underemployment remains an important challenge. 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. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, which should boost investment and exports and reduce losses to the Asian garment industry.
Source: The Heritage Foundation
Exports	$7,237,000,000.00		[90th of 189]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP	$30,581,080,000.00		[67th of 203]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
GDP > PPP	$64,918,000,000.00		[63rd of 163]
Source: World Development Indicators database and CIA World Factbook
GDP > Real growth rate	8.5%		[24th of 198]
Source: World Bank. 2005. World Development Indicators 2005.
GINI index	51.64		[2nd of 40]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Gross National Income	$18,954,900,000.00		[61st of 172]
Source: World Development Indicators database
Human Development Index	0.749		[95th of 178]
Income category	Lower middle income
Source: Human Development Report 2006, United Nations Development Programme
Income distribution > Richest 10%	37.8%		[25th of 114]
Source:
Population below poverty line	42.2%		[18th of 46]
Source: World Bank. 2002. World Development Indicators 2002. CD-ROM. Washington, DC
Poverty > Share of all poor people	0.02 % of world's poor		[64th of 80]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008
Public debt	41 % of GDP		[53rd of 121]
Source: Country Responsibilities in Achieving the Millenium Development Goals", April 8 2003, by Janice Poling
Tourist arrivals	2,211,000		[38th of 152]
Source: All CIA World Factbooks 18 December 2003 to 18 December 2008

Related links:

• Forum discussion > Economy
• Looking for Information on the U.S. Economy? Check out StateMaster
• Stay updated with current stat feeds! Subscribe to the Economy RSS / Atom feeds
•  Subscribe to our popular Economy factoids RSS / Atom feeds
• Save this page on  del.icio.us / furl / your bookmarks

More facts and figures on Dominican Republic