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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 July 2017

  • $ 559
  • Country report
  • July 2017
  • by The Economist Intelligence Unit

Policy towards private enterprise and competition 2017-18: Some progress in improving transparency for public procurement and cutting red tape for investment. Improved help for small enterprises. But ...

  • Countries : World, Dominican Republic, United States

Oxford Economics

Country Economic Forecasts > Dominican Republic

  • $ 163
  • Country report
  • July 2017
  • by Oxford Economics

We forecast that GDP growth will moderate to 5.3% this year from 6.6% in 2016, dampened by slightly higher average oil prices and a tighter monetary policy. On a structural basis, reforms are needed to ...

  • Countries : Dominican Republic

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