| Economy - overview: | The Dominican Republic is a Caribbean representative democracy which enjoyed GDP growth of more than 7% in 1998-2000. Growth subsequently plummeted as part of the global economic slowdown. 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% enjoys nearly 40% of national income. Growth turned negative in 2003 with reduced tourism, a major bank fraud, and limited growth in the US economy (the source of about 85% of export revenues), but recovered in 2004 and 2005. Resumption of a badly needed IMF loan, slowed due to government repurchase of electrical power plants, is basic to the restoration of social and economic stability. Newly elected President FERNANDEZ in mid-2004 promised belt-tightening reform. His administration has passed tax reform and arranged a $600 million IMF standby arrangement in March 20005 to ease the country's fiscal situation. Although the economy continues to grow at a respectable rate, inflation and unemployment remain the two biggest challenges. |
| GDP - per capita | $6,500 (2005 est.) |
| GDP - real growth rate (%) | 4.1% (2005 est.) |
| Agriculture - products | sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs |
| GDP - composition by sector (%) | agriculture: 10.7%, industry: 31.5%, services: 57.8% (2003) |
| Industries | tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco |
| Economic aid - recipient | $239.6 million (1995) |
| Debt - external | $7.907 billion (2005 est.) |
| Population below poverty line (%) | 25% |
| Labor force - by occupation (%) | agriculture 17%, industry 24.3%, services and government 58.7% (1998 est.) |
Environment, Land use / Resources, Economy, Population / Demographics, Infrastructure, Health -- CIA World Factbook, 2005
