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Dominican Republic Economy 2013
http://www.theodora.com/wfbcurrent/dominican_republic/dominican_republic_economy.html
SOURCE: 2013 CIA WORLD FACTBOOK AND OTHER SOURCES
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Page last updated on February 14, 2013

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 a 10th 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.

GDP (purchasing power parity):
$98.74 billion (2012 est.)
country comparison to the world: 74

$94.9 billion (2011 est.)
$90.83 billion (2010 est.)
note: data are in 2012 US dollars
[see also: GDP country ranks ]

GDP (official exchange rate):
$59.13 billion (2012 est.)
[see also: GDP (official exchange rate) country ranks ]

GDP - real growth rate:
4% (2012 est.)
country comparison to the world: 85

4.5% (2011 est.)
7.8% (2010 est.)
[see also: GDP - real growth rate country ranks ]

GDP - per capita:
$9,600 (2012 est.)
country comparison to the world: 116

$9,400 (2011 est.)
$9,200 (2010 est.)
note: data are in 2012 US dollars
[see also: GDP - per capita country ranks ]

GDP - composition by sector:
agriculture: 6.1%
[see also: GDP - composition by sector - agriculture country ranks ]
industry: 31.9%
services: 61.9% (2012 est.)

Labor force:
4.806 million (2012 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%
services: 63.1% (2005)

Unemployment rate:
14.7% (2012 est.)
country comparison to the world: 143

14.6% (2011 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%
[see also: Household income or consumption by percentage share - lowest 10% country ranks ]
highest 10%: 36.4% (2010 est.)

Distribution of family income - Gini index:
48.4 (2007)
country comparison to the world: 26

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

Investment (gross fixed):
16.4% of GDP (2012 est.)
country comparison to the world: 130
[see also: Investment (gross fixed) country ranks ]

Budget:
revenues: $8.338 billion
[see also: Budget revenues country ranks ]
expenditures: $13.07 billion (2012 est.)

Taxes and other revenues:
14.1% of GDP (2012 est.)
country comparison to the world: 196
[see also: Taxes and other revenues country ranks ]

Budget surplus (+) or deficit (-):
-8% of GDP (2012 est.)
country comparison to the world: 195
[see also: Budget surplus (+) or deficit (-) country ranks ]

Public debt:
40% of GDP (2012 est.)
country comparison to the world: 89

38.6% of GDP (2011 est.)
[see also: Public debt country ranks ]

Inflation rate (consumer prices):
3.7% (2012 est.)
country comparison to the world: 107

8.5% (2011 est.)
[see also: Inflation rate (consumer prices) country ranks ]

Commercial bank prime lending rate:
15.9% (31 December 2012 est.)
country comparison to the world: 38

15.55% (31 December 2011 est.)
[see also: Commercial bank prime lending rate country ranks ]

Stock of narrow money:
$4.895 billion (31 December 2012 est.)
country comparison to the world: 102

$4.409 billion (31 December 2011 est.)
[see also: Stock of narrow money country ranks ]

Stock of broad money:
$17.85 billion (31 December 2012 est.)
country comparison to the world: 88

$16.38 billion (31 December 2011 est.)
[see also: Stock of broad money country ranks ]

Stock of domestic credit:
$22.68 billion (31 December 2012 est.)
country comparison to the world: 78

$21.23 billion (31 December 2011 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% (2010 est.)
country comparison to the world: 129
[see also: Industrial production growth rate country ranks ]

Current account balance:
-$4.254 billion (2012 est.)
country comparison to the world: 159

-$4.521 billion (2011 est.)
[see also: Current account balance country ranks ]

Exports:
$9.467 billion (2012 est.)
country comparison to the world: 97

$8.536 billion (2011 est.)
[see also: Exports country ranks ]

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

Exports - partners:
US 48.8%, Haiti 16.7% (2011)

Imports:
$18.2 billion (2012 est.)
country comparison to the world: 79

$17.42 billion (2011 est.)
[see also: Imports country ranks ]

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

Imports - partners:
US 43.6%, Venezuela 7.2%, Mexico 5.8%, China 5.7% (2011)

Reserves of foreign exchange and gold:
$4.317 billion (31 December 2012 est.)
country comparison to the world: 96

$4.117 billion (31 December 2011 est.)
[see also: Reserves of foreign exchange and gold country ranks ]

Debt - external:
$16.58 billion (31 December 2012 est.)
country comparison to the world: 82

$14.86 billion (31 December 2011 est.)
[see also: Debt - external country ranks ]

Stock of direct foreign investment - at home:
$24.18 billion (31 December 2012 est.)
country comparison to the world: 68

$21.38 billion (31 December 2011 est.)
[see also: Stock of direct foreign investment - at home country ranks ]

Stock of direct foreign investment - abroad:
$59 million (31 December 2012 est.)
country comparison to the world: 86

$59 million (31 December 2011 est.)
[see also: Stock of direct foreign investment - abroad country ranks ]

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

39.42 (2012 est.)
38.232 (2011 est.)
37.307 (2010 est.)
36.03 (2009)
34.775 (2008)

Fiscal year:
calendar year


NOTE: The information regarding Dominican Republic on this page is re-published from the 2013 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Dominican Republic Economy 2013 information contained here. All suggestions for corrections of any errors about Dominican Republic Economy 2013 should be addressed to the CIA.


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