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Economy - overview:
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The Dominican economy
experienced dramatic growth over the last decade, even though the economy
was hit hard by Hurricane Georges in 1998. 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 country
suffers from marked income inequality; the poorest half of the population
receives less than one-fifth of GNP, while the richest 10% enjoy 40% of
national income. A US $500 million foreign bond issue in September 2001 will
contribute to increased public investment spending. |
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GDP:
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purchasing power parity - $50
billion (2001 est.) |
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GDP - real growth rate:
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2%
|
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GDP - per capita:
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purchasing power parity -
$5,800 |
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GDP - composition by sector:
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agriculture: 11%
industry: 34%
services: 55% (2000) |
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Population below poverty line:
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25%
|
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Household income or consumption by percentage share:
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lowest 10%: 2%
highest 10%: 40% (1989) |
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Distribution of family income - Gini index:
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47 (1998)
|
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Inflation rate (consumer prices):
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5%
|
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Labor force:
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2.3 million - 2.6 million
|
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Labor force - by occupation:
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services and government 59%,
industry 24%, agriculture 17% |
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Unemployment rate:
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15%
|
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Budget:
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revenues: $2.9 billion
expenditures: $3.2 billion, including capital expenditures of $1.1
billion |
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Industries:
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tourism, sugar processing,
ferronickel and gold mining, textiles, cement, tobacco |
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Industrial production growth rate:
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2%
|
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Electricity - production:
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9.475 billion kWh (2000)
|
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Electricity - production by source:
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fossil fuel: 87%
hydro: 13%
other: 0% (2000)
nuclear: 0% |
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Electricity - consumption:
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8,812.029 million kWh (2000)
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Electricity - exports:
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0 kWh (2000)
|
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Electricity - imports:
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0 kWh (2000)
|
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Agriculture - products:
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sugarcane, coffee, cotton,
cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy
products, beef, eggs |
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Exports:
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$5.5 billion (f.o.b.)
|
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Exports - commodities:
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ferronickel, sugar, gold,
silver, coffee, cocoa, tobacco, meats, consumer goods |
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Exports - partners:
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US 87.3%, Netherlands 1.1%,
Canada 0.7%, France 0.7% (2000 est.) |
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Imports:
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$8.7 billion (f.o.b.)
|
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Imports - commodities:
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foodstuffs, petroleum, cotton
and fabrics, chemicals and pharmaceuticals |
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Imports - partners:
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US 60.5%, Japan 10.4%, Mexico
4.7%, Venezuela 3% (2000 est.) |
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Debt - external:
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$5.4 billion
|
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Economic aid - recipient:
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$239.6 million (1995)
|
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Currency:
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Dominican peso (DOP)
|
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Currency code:
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DOP
|
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Exchange rates:
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Dominican pesos per US dollar
- 17.310 (January 2002), 16.952 (2001), 16.415 (2000), 16.033 (1999), 15.267
(1998), 14.265 (1997) |
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Fiscal year:
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calendar year
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