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Dominican Republic

Dominican Republic : economy statistics and industry reports

  • Updated on : 27 August 2012  Source : The World Factbook

Imports

$17.42 billion (2011 est.)
$15.3 billion (2010 est.)

Exports

$8.536 billion (2011 est.)
$6.598 billion (2010 est.)

Inflation rate (consumer prices)

8.5% (2011 est.)
6.3% (2010 est.)

Unemployment rate

13.1% (2011 est.)
13.3% (2010 est.)

GDP - per capita (PPP)

$9,400 (2011 est.)
$9,200 (2010 est.)
$8,700 (2009 est.)
note: data are in 2011 US dollars

National product real growth rate

4.2% (2010 est.)
3.5% (2009 est.)
5.3% (2008 est.)

Internet users

2.701 million (2009)

Telephones - mobile cellular

8.893 million (2009)

Population growth rate

1.305% (2012 est.)

Population

10,088,598 (July 2012 est.)

Historical background

The Taino - indigenous inhabitants of Hispaniola prior to the arrival of the Europeans - divided the island into five chiefdoms and territories.

Christopher COLUMBUS explored and claimed the island on his first voyage in 1492; it became a springboard for Spanish conquest of the Caribbean and the American mainland.

In 1697, Spain recognized French dominion over the western third of the island, which in 1804 became Haiti.

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Dominican Republic

Economic 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 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.

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The Economist Intelligence Unit

Country Forecast Dominican Republic June 2015 Updater

Country Forecast Dominican Republic June 2015 Updater

  • $ 635
  • Country report
  • June 2015
  • by The Economist Intelligence Unit

The president, Danilo Medina of the Partido de la Liberación Dominicana (PLD), will benefit from a two-thirds majority in Congress until his current term ends in August 2016. This, along with ...

  • Countries : Dominican Republic

Dun and Bradstreet (Altares)

D&B Country Insight Report: The Dominican Republic

D&B Country Insight Report: The Dominican Republic

  • $ 650
  • Country report
  • February 2015
  • by Dun and Bradstreet (Altares)

Report Summary If you are involved in cross-border business, developing relationships or identifying opportunities overseas, you are exposed to the risk associated with a country’s overall political, ...

  • Countries : Dominican Republic, World

Oxford Economics

Country Economic Forecasts > Dominican Republic

Country Economic Forecasts > Dominican Republic

  • $ 185
  • Country report
  • March 2015
  • by Oxford Economics

Last year saw estimated GDP growth of a stellar 7%, leaving the Dominican Republic as the best performing Caribbean economy for the second year in a row. Growth was boosted by strong performances from ...

  • Countries : Dominican Republic

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