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Dominican Republic Economy 2015
http://www.theodora.com/wfbcurrent/dominican_republic/dominican_republic_economy.html
SOURCE: 2015 CIA WORLD FACTBOOK AND OTHER SOURCES


















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Page last updated on June 22, 2014

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 approximately half of exports. Remittances from the US amount to about 5% of GDP, equivalent to about a third of exports and two-thirds 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 Dominican Republic's economy rebounded from the global recession in 2010-13, and the fiscal situation is improving. A tax reform package passed in November 2012 and a reduction in government spending helped to narrow the central government budget deficit from 6.6% of GDP in 2012 to below 3% in 2013. A successful government bond placement in 2013 helped finance the deficit.

GDP (purchasing power parity):
$101 billion (2013 est.)
country comparison to the world: 76

$99.02 billion (2012 est.)
$95.32 billion (2011 est.)
note: data are in 2013 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$59.27 billion (2013 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
2% (2013 est.)
country comparison to the world: 140

3.9% (2012 est.)
4.5% (2011 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,700 (2013 est.)
country comparison to the world: 123

$9,700 (2012 est.)
$9,500 (2011 est.)
note: data are in 2013 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition, by end use:
household consumption: 83.3%
government consumption: 7.7%
investment in fixed capital: 15.6%
investment in inventories: 0.1%
exports of goods and services: 26.4%
imports of goods and services: -33.2%

(2013 est.)

GDP - composition, by sector of origin:
agriculture: 6%
industry: 29.1%
services: 64.9% (2013 est.)

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:
2.5% (2013 est.)
country comparison to the world: 118
[see also: Industrial production growth rate country ranks ]

Labor force:
4.912 million (2013 est.)
country comparison to the world: 80
[see also: Labor force country ranks ]

Labor force - by occupation:
agriculture: 14.6%
industry: 22.3%
services: 63.1% (2005)

Unemployment rate:
15% (2013 est.)
country comparison to the world: 137

14.3% (2012 est.)
[see also: Unemployment rate country ranks ]

Population below poverty line:
34.4% (2010 est.)
[see also: Population below poverty line country ranks ]

Household income or consumption by percentage share:
lowest 10%: 1.8%
highest 10%: 36.4% (2010 est.)

Distribution of family income - Gini index:
47.2 (2010 est.)
country comparison to the world: 28

52 (2000 est.)
[see also: Distribution of family income - Gini index country ranks ]

Budget:
revenues: $9.012 billion
expenditures: $10.79 billion (2013 est.)

Taxes and other revenues:
15.2% of GDP (2013 est.)
country comparison to the world: 193
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-3% of GDP (2013 est.)
country comparison to the world: 123
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
47% of GDP (2013 est.)
country comparison to the world: 74

41.5% of GDP (2012 est.)
[see also: Public debt country ranks ]

Fiscal year:
calendar year

Inflation rate (consumer prices):
5% (2013 est.)
country comparison to the world: 156

3.7% (2012 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
13.6% (31 December 2013 est.)
country comparison to the world: 34

15.48% (31 December 2012 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.943 billion (31 December 2013 est.)
country comparison to the world: 99

$4.738 billion (31 December 2012 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$15.54 billion (31 December 2013 est.)
country comparison to the world: 89

$14.83 billion (31 December 2012 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$25.09 billion (31 December 2013 est.)
country comparison to the world: 74

$23.71 billion (31 December 2012 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 ]

Current account balance:
-$2.33 billion (2013 est.)
country comparison to the world: 146

-$4.037 billion (2012 est.)
[see also: Current account balance country ranks ]

Exports:
$9.825 billion (2013 est.)
country comparison to the world: 97

$9.079 billion (2012 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 47%, Haiti 16.1%, China 4.3% (2012)

Imports:
$16.8 billion (2013 est.)
country comparison to the world: 83

$17.76 billion (2012 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 43.3%, Venezuela 7.7%, China 6.3%, Mexico 5.3%, Colombia 4.1% (2012)

Reserves of foreign exchange and gold:
$4.379 billion (31 December 2013 est.)
country comparison to the world: 98

$3.579 billion (31 December 2012 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$18.01 billion (31 December 2013 est.)
country comparison to the world: 82

$16.33 billion (31 December 2012 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$26.76 billion (31 December 2013 est.)
country comparison to the world: 64

$24.86 billion (31 December 2012 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$59 million (31 December 2013 est.)
country comparison to the world: 87

$59 million (31 December 2012 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

Exchange rates:
Dominican pesos (DOP) per US dollar -

41.8 (2013 est.)
39.336 (2012 est.)
37.307 (2010 est.)
36.03 (2009)
34.775 (2008)


NOTE: The information regarding Dominican Republic on this page is re-published from the 2015 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominican Republic Economy 2015 information contained here. All suggestions for corrections of any errors about Dominican Republic Economy 2015 should be addressed to the CIA.



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