| Economy | Dominican Republic |
 = Fields  = World Records  = Dictionary  = Bar graph  = Distribution map  = Fields History  = Definitions |
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 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 rebounded in 2010-11 from the global recession, and remains one of the fastest growing in the region. |
GDP (purchasing power parity):
|
$93.23 billion (2011 est.)
$89.25 billion (2010 est.)
$82.82 billion (2009 est.)
note: data are in 2011 US dollars |
GDP - per capita (PPP):
|
$9,300 (2011 est.)
$9,000 (2010 est.)
$8,500 (2009 est.)
note: data are in 2011 US dollars |
GDP (official exchange rate):
|
$54.4 billion (2011 est.) |
GDP - real growth rate:
|
4.5% (2011 est.)
7.8% (2010 est.)
3.5% (2009 est.) |
GDP - composition by sector:
|
agriculture: 7.3%
industry: 27.9%
services: 64.8% (2011 est.) |
Investment (gross fixed):
|
16.6% of GDP (2011 est.) |
Population below poverty line:
|
42.2% (2004) |
Household income or consumption by percentage share:
|
lowest 10%: 1.7%
highest 10%: 37.8% (2007) |
Distribution of family income - Gini index:
|
48.4 (2007)
47.4 (1998) |
Inflation rate (consumer prices):
|
8.6% (2011 est.)
6.3% (2010 est.) |
Central bank discount rate:
|
void |
Commercial bank prime lending rate:
|
14.5% (31 December 2011 est.)
12.14% (31 December 2010 est.) |
Stock of money:
|
$3.619 billion (31 December 2008)
$4.065 billion (31 December 2007) |
Stock of money - per capita:
|
364 USD per capita |
Stock of quasi money:
|
$5.902 billion (31 December 2008)
$5.64 billion (31 December 2007) |
Stock of quasi money - per capita:
|
593 USD per capita |
Stock of domestic credit:
|
$24.81 billion (31 December 2011 est.)
$21.87 billion (31 December 2010 est.) |
Stock of domestic credit - per capita:
|
2,492 USD per capita |
Stock of narrow money:
|
$4.238 billion (31 December 2011 est.)
$4.237 billion (31 December 2010 est.) |
Stock of broad money:
|
$16.76 billion (31 December 2010 est.)
$15.48 billion (31 December 2009 est.) |
Labor force:
|
4.732 million (2011 est.) |
Labor force participation rate:
|
47.53 % of population |
Labor force - by occupation:
|
agriculture: 14.6%
industry: 22.3%
services: 63.1% (2005) |
Unemployment rate:
|
13.3% (2011 est.)
13.3% (2010 est.) |
Unemployment, youth ages 15-24:
|
total: 30.3%
male: 21.2%
female: 44.5% (2007) |
Budget:
|
revenues: $8.072 billion
expenditures: $9.496 billion (2011 est.) |
Budget revenues per capita:
|
811 USD per capita |
Taxes and other revenues:
|
14.8% of GDP (2011 est.) |
Budget surplus (+) or deficit (-):
|
-2.6% of GDP (2011 est.) |
Public debt:
|
36.4% of GDP (2011 est.)
36.8% of GDP (2010 est.) |
Industries:
|
tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco |
Industrial production growth rate:
|
1.5% (2010 est.) |
Electricity - production:
|
14.58 billion kWh (2008 est.) |
Electricity - production per capita:
|
1,465 kWh per capita |
Electricity - consumption:
|
12.87 billion kWh (2008 est.) |
Electricity - consumption - per capita:
|
1,293 kWh per capita |
Electricity - exports:
|
0 kWh (2009 est.) |
Electricity - imports:
|
0 kWh (2009 est.) |
Oil - production:
|
392.2 bbl/day (2010 est.) |
Oil - production per capita:
|
40 bbl/day per capita |
Oil - consumption:
|
119,000 bbl/day (2010 est.) |
Oil - consumption - per capita:
|
4.36 bbl/year per capita |
Oil - exports:
|
0 bbl/day (2009 est.) |
Oil - imports:
|
107,300 bbl/day (2009 est.) |
Oil - proved reserves:
|
0 bbl (1 January 2011 est.) |
Natural gas - production:
|
0 cu m (2009 est.) |
Natural gas - production per capita:
|
void |
Natural gas - consumption:
|
560 million cu m (2009 est.) |
Natural gas - consumption - per capita:
|
57 cu m per capita |
Natural gas - exports:
|
0 cu m (2009 est.) |
Natural gas - imports:
|
560 million cu m (2009 est.) |
Natural gas - proved reserves:
|
0 cu m (1 January 2011 est.) |
Agriculture - products:
|
sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs |
Current account balance:
|
-$6.005 billion (2011 est.)
-$4.566 billion (2010 est.) |
Current account balance - per capita:
|
-603 USD per capita |
Exports:
|
$7.792 billion (2011 est.)
$6.598 billion (2010 est.) |
Exports per capita:
|
783 USD per capita |
Exports - commodities:
|
ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods |
Exports - partners:
|
US 52%, Haiti 13.6% (2010) |
Imports:
|
$18.38 billion (2011 est.)
$15.3 billion (2010 est.) |
Imports per capita:
|
1,847 USD per capita |
Imports - commodities:
|
foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals |
Imports - partners:
|
US 44%, Venezuela 7%, China 6.1%, Mexico 4.9%, Colombia 4.8% (2010) |
Reserves of foreign exchange and gold:
|
$2.902 billion (31 December 2011 est.)
$3.502 billion (31 December 2010 est.) |
Reserves of foreign exchange and gold - per capita:
|
292 USD per capita |
Debt - external:
|
$15.14 billion (31 December 2011 est.)
$13.24 billion (31 December 2010 est.) |
Debt - external - per capita:
|
1,521 USD per capita |
Stock of direct foreign investment - at home:
|
$20.71 billion (31 December 2011 est.)
$18.91 billion (31 December 2010 est.) |
Stock of direct foreign investment - at home - per capita:
|
2,081 USD per capita |
Stock of direct foreign investment - abroad:
|
$59 million (31 December 2011 est.)
$59 million (31 December 2010 est.) |
Stock of direct foreign investment - abroad - per capita:
|
6 USD per capita |
Market value of publicly traded shares:
|
$NA |
Market value of publicly traded shares - per capita:
|
void |
Currency (code):
|
Dominican peso (DOP) |
Exchange rates:
|
Dominican pesos (DOP) per US dollar -
38.19 (2011 est.)
36.88 (2010 est.)
36.03 (2009)
34.775 (2008)
33.113 (2007) |
Fiscal year:
|
calendar year |
|
= Fields = World Records = Dictionary = Bar graph = Distribution map = Fields History = Definitions |
|
Home 
Geographic Names
Chiefs of State
Intl. Organizations
Intl. Environmental Agree.
Other References
