what contributes to the gdp in the dominican republic

Overview of the economy of Dominican Republic

Economic system of Dominican Democracy

Santo Domingo is the capital and financial center of Dominican Republic
Currency	i Dominican Peso (RD$) = 100 Centavos
Fiscal year	Calendar twelvemonth
Merchandise organizations	WTO
Country grouping	Developing/Emerging[1] Upper-middle income economy[two]
Statistics
GDP	$85.630 billion (nominal, 2018)[3] $250 billion (PPP, 2021)[3]
GDP growth	7.0% (2018) v.1% (2019e) −6.7% (2020f) 9.5% (2021f)[iv]
GDP per capita	$viii,341 (nominal, 2018)[3] $22,752 (PPP, 2021)[3]
Gdp past sector	agriculture: v.v%; industry: 33.8%; services: 60.8% (2017 est.)
Inflation (CPI)	3.564% (2018)[three]
Population below poverty line	30.five% (2016 est)[5] [6]
Gini coefficient	43.7 medium (2018)[vii]
Human Development Index	0.756 high (2019)[8] (88th) 0.584 medium IHDI (2018)[9]
Labor forcefulness	4.732 meg (2017 est.)
Labor force by occupation	agriculture: 14.six%; industry: 22.3%; services: 63.one% (2005)
Unemployment	8.ix% (2020 est.)
Principal industries	ferronickel and gold mining, textiles, cement, tobacco, and sugar production, tourism
Ease-of-doing-business concern rank	115th (medium, 2020)[x]
External
Exports	$11 billion (2019 est.)
Export goods	ferronickel, sugar, gold, argent, coffee, cocoa, tobacco, meats, consumer goods
Principal export partners	United States 50.8% Haiti 11.8% Switzerland eight.8% India v.9% Canada 5.6% (2017 est.)[eleven]
Imports	$20 billion (2019 est.)
Import goods	foodstuffs, petroleum, cotton wool and fabrics, chemicals and pharmaceuticals
Master import partners	United States 44.7% Mainland china 14.2% Mexico 8.iii% Brazil half dozen.v% Chile 4.7% (2017 est.)[12]
FDI stock	$42 billion (31 December 2019 est.)
Gross external debt	$29.69 billion (31 December 2017 est.)
Public finances
Public debt	37.seven% of Gross domestic product (2017 est.)
Revenues	$14.x billion (2021 est.)
Expenses	$xvi.60 billion (2021 est.)
Credit rating	BB- (Domestic) BB- (Foreign) BB (T&C Assessment) (Standard & Poor'due south)[13]
Strange reserves	$13 billion (05 January 2022 est.)
Main information source: CIA Globe Fact Book All values, unless otherwise stated, are in Usa dollars.

The economy of the Dominican Republic is the seventh largest in Latin America, and is the largest in the Caribbean area and Central American region. The Dominican Democracy is an upper-middle income^[14] developing country with important sectors including mining, tourism, manufacturing (medical devices, electrical equipment, pharmaceuticals, and chemicals), energy, real estate, infrastructure, telecommunications and agriculture.^{[xv] [sixteen]} The Dominican Republic is on runway to achieve its goal of becoming a high-income country past 2030, and is expected to grow 79% in this decade.^[17] The country is the site of the unmarried largest aureate mine in Latin America, the Pueblo Viejo mine.^{[18] [19]}Although the service sector is currently the leading employer of Dominicans (due principally to growth in tourism and costless-trade zones), agriculture remains an important sector in terms of the domestic market and is in second identify (behind mining) in terms of export earnings. Tourism accounts for more than than $7.four billion in annual earnings in 2019.^[twenty] Costless-trade zone earnings and tourism are the fastest-growing consign sectors. A leading growth engine in the Free-trade zone sector is the product of medical equipment for export having a value-added per employee of $20,000 USD,^[21] total revenue of $1.five billion USD, and a growth rate of vii.7% in 2019. The medical instrument export sector represents one of the highest-value added sectors of the country's economic system, a truthful growth engine for the country'southward emerging market.^[22] Remittances are an of import sector of the economic system, contributing $eight.2 billion in 2020.^[23] Most of these funds are used to cover household expenses, such as housing, food, clothing, health care and teaching. Secondarily, remittances take financed businesses and productive activities.^[24] Thirdly, this combined effect has induced investment by the private sector and helps fund the public sector through its value-added tax. The combined import market place including the free-merchandise-zones amounts to a market place of $twenty billion a year in 2019. The combined consign sector had revenues totaling $eleven billion in 2019.^[20] The consumer market place is equivalent to $61 billion in 2019.^[25] An important indicator is the boilerplate commercial loan interest charge per unit, which directs short-term investment and stimulates long-term investment in the economy. It is currently 8.30%, equally of June 2021.^[26]

The Dominican Republic's about important trading partner is the Usa (about twoscore% of total commercial exchange). Other major trade partners are Mainland china, Republic of haiti, Puerto Rico, the European Union, Canada, Mexico, India, Spain, Brazil, Germany, the United Kingdom, kingdom of the netherlands and Nihon, in that quantitative social club.^[27] The land exports costless-merchandise-zone manufactured products (medical devices, electrical equipment, pharmaceuticals, and chemicals), gilt, nickel, agronomical products, liquor, cocoa beans, silver, and sauces and seasonings. It imports petroleum, industrial raw materials, capital goods, and foodstuffs. On 5 September 2005, the Congress of the Dominican Commonwealth ratified a free trade agreement with the U.S. and five Fundamental American countries, the Dominican Democracy – Central America Free Trade Agreement (CAFTA-DR). CAFTA-DR entered into strength for the Dominican Republic on i March 2007. The total stock of U.S. foreign direct investment (FDI) in Dominican Commonwealth every bit of 2019 was U.S. $42 billion, much of it directed to the free energy, tourism, real manor, manufacturing, infrastructure and the telecommunications sectors.^[15] In 2019 the foreign directly investment stock amounted to $42 billion a significant growth in the last decade and a half.^[15] In 2020, during the COVID-19 pandemic, foreign direct investment flows in the Dominican Democracy had remained strong at $2.v billion added to the stock in that year. Having grown to an estimated $44.5 billion, and growing more than than ten-fold since 2006 when the liberalization efforts began.^[23]

An important aspect of the Dominican economy is the Free Merchandise Zone manufacture (FTZ), which made upward U.S. $vi.two billion in Dominican exports for 2019.^[20] Reports bear witness, however, that the FTZs lost approximately threescore,000 between 2005 and 2007 and suffered a four% subtract in total exports in 2006. The textiles sector experienced an approximate 17% drop in exports in 2006 due in office to the appreciation of the Dominican peso against the dollar, Asian contest following expiration of the quotas of the Multi-Fiber Arrangement, and a government-mandated increment in salaries, which should have occurred in 2005 just was postponed to Jan 2006. Lost Dominican business was captured by firms in Central America and Asia. The tobacco, jewelry, medical, and pharmaceutical sectors in the FTZs all reported increases for 2006, which kickoff textile and garment losses. Industry experts from the FTZs expected that entry into strength of the CAFTA-DR agreement would promote substantial growth in the FTZ sector in 2007. By the end of the last decade-and-a-half the free-merchandise-zone sector has rebounded and surpassed the sometime amounts of $4.5 billion in 2006 to grow to $six.2 billion past 2019.

Primary Industries [edit]

Agriculture [edit]

In 2018, the Dominican Democracy produced 644 thousand tons of avocado (it is the 2nd largest producer in the world), 1 million tons of papaya (it is the quaternary largest producer in the earth), 5.2 1000000 tons of sugarcane, 2.1 1000000 tons of banana, 85 m tons of cocoa, 442 g tons of palm oil, 407 g tons of pineapple, 403 thousand tons of coconut, 627 1000 tons of rice, 160 g tons of cassava, 136 thou tons of orangish, in addition to from smaller productions of other agronomical products such as potato, lemon, melon, onion and yam.^[28]

With nearly 80% of the full state area suitable for crop production and about 17% of the labor force engaged in farming, agriculture remains the main occupation, bookkeeping for eleven% of GDP in 2001. Value of agronomical output grew at an boilerplate annual rate of 7.1% during 1968–73, merely since 1975 the sector has been hampered past droughts (1975, 1977, and 1979), hurricanes (in 1979 and 1980), and slumping earth prices and quota allocations for sugar (since 1985). In 1999, agricultural product was 0.four% higher than during 1989–91. The fertile Cibao Valley is the primary agronomical center. In 1998, abundant land totaled 1,020,000 hectares (2,500,000 acres); with land under permanent crops at 480,000 hectares (1,200,000 acres).

Afterward Cuba, the Dominican Democracy is the second-largest Caribbean area producer of sugarcane, the nation's most of import crop. The State Sugar Council operates 12 carbohydrate mills and accounts for about half of total production. Other large producers are the privately owned Vicini, with three mills, and Cardinal Romana Corporation, whose manufacturing plant is the largest in the country. Sugar is grown in the southeastern plains, around Barahona & on the North Coast Plain. In 1999, saccharide production was 4.4 million tons, down from an boilerplate of seven.one million tons during 1989–1991. Output of sugar has declined annually since 1982, and state is gradually being taken out of saccharide production and switched to food crops. Product of raw carbohydrate rose from 636,000 tons in 1990 to 813,000 tons in 1997 but fell to 374,000 tons in 1999.

Function of the crop was destroyed by hurricanes in 1979 and 1980, and 1979–eighty product was only 670,000 bags (40,200 tons). Although product was commonly near 57,000–59,000 tons annually in the 1980s, the acreage harvested declined from 157,000 hectares (390,000 acres) in the early 1980s to 139,000 hectares (340,000 acres) in 1999, indicating a greater yield per acre. Coffee production in 1999 was estimated at 35,000 tons; exports of coffee in 2001 generated $11 million. Cocoa and tobacco are also grown for export. Dominican Democracy is ane of the summit x major producer and exporter of cocoa in the world. Cocoa is also grown in the Cibao Valley around San Francisco de Macoris. Tobacco is also grown in the Cibao Valley, but effectually Santiago. In 1999, production of cocoa beans was 26,000 tons and of tobacco, 35,000 tons. Rice is grown effectually Monte Cristi & San Francisco de Macoris. Banana production in 1999 was 432,000 tons. Product of other crops in 1999 (in thousands of tons) included rice, 563; coconuts, 184; cassava, 127; tomatoes, 281; pulses, 69; dry beans, 26; eggplants, seven; and peanuts, two.

Livestock farming [edit]

In 2001, Dominican livestock included 187,000 goats and 106,000 sheep. In that location were also virtually ii.1 1000000 caput of cattle, 60% for beef and 40% for dairy. The hog population was decimated past African swine fever in 1978, decreasing from 400,000 in 1978 to 20,000 in 1979; past 2001, withal, information technology was 565,000. Poultry is the master meat source because information technology is cheaper than beef or pork. Poultry production relies on imports of feed grain from the United States. In 2001, 203,000 tons of poultry meat were produced, along with 71,000 tons of beef and 420,000 tons of milk.

Fishing [edit]

In 2017 the total marine production was 18,000 metric tons.^[29] Marlin, barracuda, kingfish, mackerel, tuna, sailfish, and tarpon are constitute in the Monte Cristi Bank and Samaná Bay, which also supports bonito, snapper, and American grouper.

Forestry [edit]

About 28.4% of the total land area consisted of forests and woodlands in 2000. Round wood production in 2000 totaled 562,000 cu m (xix.viii million cu ft). Timber is cut for land immigration for the use of agronomics. There are important national parks protecting the natural resources and aquifers of the land.

Mining [edit]

In 2019, the country was the ninth largest world producer of nickel. ^[30] The country had almost nada production of gold until 2011, where it grew exponentially. In 2016 the country produced nigh 38 tons. ^[31] The country had near zero production of silver until 2008, where it grew exponentially. In 2017 the country produced 147 tons. ^[32]

Ferronickel was the land's leading export commodity and third-leading industry. Nickel is mined at Bonao. In 2000, nickel production was 39,943 tons, ranking 10th in the world, a decrease from 49,152 in 1997. Currently the most important mineral export is gold.

Production of gilded in the Pueblo Viejo mine is the largest gold producing mine in Latin America, and 4th most productive mine in the earth producing a full of 30,100 kg of golden in 2018.^[33] The extraction by a foreign company of gold at one of the largest mines in the Western Hemisphere has startled and concerned a part of the land who believe that the natural resources should be extracted by local companies and not foreign. Some groups began to protestation confronting Barrick Gold in 2009 and 2010. In 2019 aureate is one of the largest exports of the country totaling $1.6 billion and has helped to balance the article current account balance.^[34]

Production of bauxite, traditionally the principal mining product, ceased in 1992. The Aluminum Co. of America (Alcoa) mined bauxite between 1959 and 1983, when it turned its concession over to the state. Production in 1991 dropped 92% from the previous year, as a presidential decree suspended mining operations at the largest mine, in response to increasing fears of deforestation, although reforestation of mined areas was in progress. Output averaged 1 meg tons each year.

The country was one of the few sources of bister in the Western Hemisphere. Salt Mountain, a 16 km block of almost solid salt west of Barahona, was the earth'due south largest known table salt deposit. There were also large deposits of gypsum about Table salt Mountain, making the Dominican Republic i of three sources of gypsum in the Caribbean. The country also produced hydraulic cement, limestone, marble, and sand and gravel. Substantial lignite deposits were institute in the early 1980s. Deposits of copper and platinum are also found in the country.

Industry [edit]

Graphical depiction of Dominican Commonwealth's production exports in 28 colour-coded categories.

The industrial sector contributed an estimated 33.eight percent to the country's GDP in 2017, led by mining and the manufacture of goods for consign to the United States, Europe and Asia. To a lesser extent, there is the industry of nutrient products, consumer non-durables, and building materials for the local market. The sector employed 20.8 percent of the workforce in 2014.

About 500 companies in the Dominican Democracy manufacture goods primarily for the Northward American market. Situated in 50 industrial free zones around the state, these mostly strange-owned corporations take advantage of generous tax and other financial inducements offered past the government to businesses that operate within the zones. Approximately 200,000 people, or about 8 percent of the workforce, are employed in this sector. They more often than not produce vesture, electronic components, footwear, and leather goods, which are assembled. The raw materials or semi-manufactured appurtenances are usually imported duty-complimentary from other emerging markets (electronic parts are imported from industrialized Puerto Rico) and assembled in the free trade zones. Products include cosmetics, pharmaceuticals, textiles, perfumes & foodstuffs. The value of complimentary-trade-zone exports amounted to U.s.a.$vi.2 billion in 2019, while their imports of intermediate products amounted to US$4 billion.^[20]

Other, more than traditional manufacturing is based on sugar refining, cement, iron and steel production, and nutrient processing. Rum is a significant export commodity, and beer and cigarettes are manufactured for local consumption. Most industry of this sort is located around the working-class perimeter of Santo Domingo and other large towns.

Tertiary industries [edit]

Services were estimated to contribute 61.four% of the Gross domestic product in 2017 and employs 64.7% of the population.^[35]

Tourism [edit]

Since the mid-1980s the tourism sector has become one of the country'southward most of import sources of strange exchange, and more pop tourist destinations. The state is famous for its favorable location in the Caribbean, tropical climate, beaches, and the restored Spanish colonial architecture. Many foreign investors accept and keep to be encouraged to invest here to build and aggrandize resorts and airports around the coasts.^[36] During this same menses, tourism displaced carbohydrate as the main source of the land's earnings, and past 1997 it was generating more than half of the country'due south full foreign commutation.^[37] In 2019 it generated one-tertiary of the total foreign exchange for the country.

Tourism is the single biggest acquirement earner, growing from humble beginnings in 1980 to more than than $7.four billion by 2019.^[20] Successive governments have invested heavily in tourism evolution, creating upgraded airports and other infrastructure. The number of tourist amounted to 6.4 meg tourists arriving in the land in 2019. Almost come from Europe, with near 25 percent originating from the United States or Canada. The land at present has almost 70,000 hotel rooms, more than than whatever other Caribbean country. About fifty,000 Dominicans are directly employed in this sector, mostly working in hotels, and another 110,000 are indirectly employed as taxi drivers, bout guides, or tourist-shop staff. Most tourists visit the Dominican Democracy on account of its beaches, merely there is an expanding eco-tourism and outdoor action sector, focused on the country's mountains and wildlife.

Although tourism generates large revenues, some scholars and activists debate that the development of tourism likewise has high impacts on many socioeconomic aspects. For instance, they contend that it involves ecological deterioration, turn a profit leakage, social displacement, disported cultural patterns, ascent land values, drugs and prostitution.^[37]

Travel and tourism contribution to Gross domestic product [%]	2001	2008
Dominican Republic	nineteen.2%	17.half-dozen%
Caribbean region	xviii.2%	19.5%

^[38]

Retail [edit]

Retail action in the Dominican Republic takes many forms, from U.S.-style supermarkets and shopping malls in Santo Domingo to rural markets and tiny family-run corner stores in villages. A small but affluent middle class can afford to shop at the quondam, while the lower-income rural community resorts to buying minor amounts of daily essentials from general stores (these small stores often double as pubs). In an attempt to regulate the retail sector, the government has recently reformed taxation laws, and then that modest shops pay taxes on a regular monthly basis. Many transactions, however, go unrecorded.

Energy [edit]

Air current energy in Pedernales province.

The electricity sector has had big investments in the last decade 2010 to 2020 diversifying the sector abroad from petroleum which decreased from fifty% of energy generation to 7%. The largest generation sources as of 2021 are coal, natural gas and renewables representing together 93% of electricity generation.^[39] This has transformed a strategic sector of the economy into a stable and lower cost sector. The rate of electricity loss improved from 38% in 2005 to 30% in 2019 showing improvement in the infrastructure. Depression drove rates, illegal connections, infrastructure problems and poor governance are the sources of the loftier level of electricity loss in the system. The government plans to keep providing subsidies. Congress passed a law in 2007 that criminalizes the act of illegal electric connections. The state subsidizes the price of electricity, funding the cost via indirect taxation instead of direct cost increases for lower-income households, therefore it is a redistributive policy and partly funded by the land every bit a whole instead of the direct consumers of electricity.^{[40] [41]} The profit from renewables, natural gas, and coal is positive and considered the current and futurity of the system, given that petroleum derivatives are considered more volatile and expensive in running costs.

As of 2020 pregnant investments in the electricity sector take been realized with the construction of the Punta Catalina coal-fired plant. Significantly diversifying the electric sector's abroad from the traditional mix to one with lower price. The growth of the renewables sector and the natural gas power sector has made significant strides in this respect in the last few years, and is expected to keep to grow with foreign and local investment in the sector.^{[42] [43] [44]}

Data [edit]

The following table shows the main economic indicators in 1980–2019 (with Imf staff stimtates in 2020–2025). Aggrandizement below 5% is in green.^[45]

Yr	GDP (in Bil. US$PPP)	Gdp per capita (in US$ PPP)	GDP (in Bil. Usa$nominal)	Gdp per capita (in US$ nominal)	GDP growth (real)	Inflation charge per unit (in Per centum)	Unemployment (in Pct)	Government debt (in % of GDP)
1980	13.seven	two,429.3	8.7	1,534.3	8.0%	21.7%	n/a	n/a
1981	fifteen.vii	2,710.8	9.7	one,677.4	4.3%	7.5%	n/a	northward/a
1982	sixteen.nine	ii,860.5	ix.1	i,545.1	i.seven%	vii.half dozen%	north/a	n/a
1983	xviii.4	3,038.one	nine.five	1,562.i	iv.6%	5.vi%	n/a	northward/a
1984	19.iii	3,112.iii	xiv.9	two,397.six	1.3%	20.ii%	n/a	due north/a
1985	19.5	3,068.1	6.v	1,022.6	-2.one%	45.iii%	n/a	north/a
1986	xx.6	3,162.iv	vii.9	1,212.iv	3.5%	7.6%	northward/a	n/a
1987	23.ii	iii,482.seven	8.3	one,245.3	ten.1%	xiii.half dozen%	n/a	northward/a
1988	24.6	3,597.5	7.vi	ane,113.8	two.2%	43.nine%	northward/a	n/a
1989	26.7	iii,818.half-dozen	8.6	i,230.7	four.four%	40.seven%	n/a	n/a
1990	26.1	3,672.4	8.0	i,123.2	-v.v%	50.v%	due north/a	n/a
1991	27.iii	3,766.8	9.9	one,365.2	0.nine%	47.1%	9.ii%	n/a
1992	31.0	four,207.eight	11.half dozen	one,573.7	11.two%	4.3%	9.5%	n/a
1993	34.1	iv,541.0	13.1	one,741.7	seven.four%	5.iii%	nine.three%	n/a
1994	35.7	4,677.0	14.half-dozen	1,916.4	2.6%	8.iii%	7.iv%	north/a
1995	38.6	4,962.8	16.six	2,141.i	5.vii%	12.5%	seven.3%	north/a
1996	41.vi	5,270.0	18.2	2,309.9	6.0%	5.iv%	vii.5%	n/a
1997	46.1	five,745.seven	twenty.0	2,495.0	8.ix%	8.3%	7.ii%	13.eight%
1998	49.7	6,102.4	21.7	2,658.five	6.seven%	4.8%	7.four%	13.ii%
1999	53.4	six,457.7	22.i	ii,674.8	five.9%	half-dozen.5%	6.3%	16.0%
2000	57.ii	six,811.6	24.3	ii,894.3	4.7%	seven.7%	8.one%	16.seven%
2001	59.nine	7,039.eight	25.half-dozen	three,007.4	two.5%	eight.9%	ix.1%	20.4%
2002	63.vi	7,371.vii	27.2	iii,158.4	4.v%	5.2%	8.5%	21.5%
2003	64.0	vii,316.3	21.5	2,460.6	-ane.iii%	27.v%	8.7%	48.2%
2004	67.4	7,607.nine	22.5	two,540.eight	2.6%	51.v%	vii.ix%	34.3%
2005	76.one	8,480.4	35.ix	4,008.4	ix.four%	4.ii%	8.2%	38.three%
2006	85.6	ix,435.v	38.0	4,188.7	nine.2%	7.vi%	7.1%	36.0%
2007	94.4	10,292.7	44.1	four,803.v	7.4%	vi.1%	6.five%	32.ix%
2008	99.3	ten,703.6	48.two	5,194.viii	3.2%	x.half-dozen%	6.0%	33.6%
2009	100.9	10,757.5	48.3	5,151.2	0.ix%	one.iv%	6.eight%	36.7%
2010	110.vi	eleven,672.iii	53.9	v,688.eight	eight.3%	6.three%	half dozen.five%	37.3%
2011	116.v	12,157.9	58.1	vi,063.four	3.1%	8.5%	vii.six%	39.ane%
2012	118.2	12,207.7	60.seven	6,274.9	2.seven%	3.seven%	eight.4%	42.iii%
2013	125.4	12,818.four	62.8	half-dozen,413.ix	4.9%	four.8%	ix.2%	46.seven%
2014	137.0	13,859.one	67.3	6,805.7	7.1%	three.0%	eight.5%	44.9%
2015	151.6	15,186.0	71.3	7,139.v	vi.9%	0.8%	7.3%	44.9%
2016	167.five	sixteen,625.8	75.8	7,521.3	half dozen.7%	1.half-dozen%	vii.1%	46.six%
2017	175.9	17,301.4	80.1	7,874.ix	iv.seven%	iii.3%	5.5%	48.8%
2018	192.7	18,772.6	85.6	8,341.0	7.0%	3.6%	5.seven%	50.4%
2019	206.1	19,896.2	89.0	viii,595.half dozen	5.i%	i.8%	6.2%	53.five%
2020	194.five	xviii,619.7	78.9	7,553.five	-vi.7%	three.8%	5.viii%	71.v%
2021	220.7	twenty,943.9	89.v	8,491.6	9.5%	7.8%	7.4%	66.1%
2022	239.3	22,507.3	97.4	9,158.0	5.5%	4.5%	6.six%	63.viii%
2023	257.3	23,991.0	104.4	9,732.9	v.0%	four.0%	half dozen.2%	62.2%
2024	276.3	25,537.6	111.nine	10,338.iv	5.0%	4.0%	half-dozen.0%	sixty.seven%
2025	296.3	27,152.5	119.ix	ten,984.i	v.0%	4.0%	half-dozen.0%	59.2%
2026	317.5	28,834.5	128.4	11,664.two	5.0%	4.0%	six.0%	58.0%

Other statistics [edit]

Gdp: purchasing power parity – $172.4 billion (2017 est.)

Gross domestic product – real growth rate: 4.6% (2017 est.)

Gross domestic product – per capita: purchasing power parity – $xvi.900 (2017 est.)

GDP – composition by sector: agriculture: 5.5% industry: 33.8% services: threescore.8% (2017 est.)

Aggrandizement rate (consumer prices): 3.3% (2017 est.)

Labor force: iv.732 million (2017 est.)

Labor force – by occupation: agriculture: 14.4% industry: 20.viii% services: 64.7% (2014 est.)

Unemployment rate: v.five% (2017 est.)

Population below poverty line: 30.5% (2016)

Upkeep: revenues: $seven.014 billion

expenditures: $half dozen.985 billion (2007 est.)

Industries: tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco, electrical components, medical devices

Electricity – production: fifteen.53 billion kWh (2015)

Electricity – consumption: thirteen.25 billion kWh (2015)

Electricity – exports: 0 kWh (2005)

Electricity – imports: 0 kWh (2005)

Oil – production: 0 bbl/d (0 m^three/d) (2014)

Oil – consumption: 122,300 bbl/d (19,440 one thousand³/d) (2012 est.)

Oil – exports: 0 bbl/d (0 yard³/d) (2017)

Oil – imports: 116,700 bbl/d (18,550 gⁱⁱⁱ/d) (2017)

Oil – proved reserves: 0 bbl (0 grand³) (i January 2006 est.)

Natural gas – product: 0 cu g (2005 est.)

Natural gas – consumption: 1.108 million cu m (2015 est).

Natural gas – exports: 0 cu chiliad (2005 est.)

Natural gas – imports: 1.108 one thousand thousand cu one thousand (2015)

Natural gas – proved reserves: 0 cu k (ane January 2006 est.)

Agriculture – products: sugarcane, java, cotton wool, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs

Exports: $10.33 billion f.o.b. (2017 est.)

Exports – commodities: ferro nickel, carbohydrate, gilded, silver, coffee, cocoa, tobacco, meats, consumer appurtenances

Exports – partners: The states 50.4%, United Kingdom 3.2%, Belgium two.4% (2017)

Imports: $xix billion f.o.b. (2017 est.)

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

Imports – partners: United States 41.four%, China 13.9%, Mexico 4.5%, Brazil 4.three% (2017)

Debt – external: $29.69 billion (31 December 2017 est.)

Economical assist – recipient: $76.99 million (2005)

Currency: Dominican peso (DOP)

Substitution rates: Dominican pesos per US dollar – 33.113 (2007), 33.406 (2006), thirty.409 (2005), 42.12 (2004), 30.831 (2003)

Financial twelvemonth: calendar year

See likewise [edit]

• List of companies of the Dominican Commonwealth
• List of Latin American and Caribbean countries by GDP growth
• List of Latin American and Caribbean countries by GDP (nominal)
• List of Latin American and Caribbean area countries by GDP (PPP)

Notes [edit]

1. ^ "World Economic Outlook Database, Apr 2019". International monetary fund.org. International Monetary Fund. Retrieved 29 September 2019.
2. ^ "World Bank Land and Lending Groups". datahelpdesk.worldbank.org. World Bank. Retrieved 29 September 2019.
3. ^ ^{a b c d e} "Globe Economic Outlook Database, Oct 2019". IMF.org. International Budgetary Fund. Retrieved 21 October 2019.
4. ^ "Global Economic Prospects, oct 2021". openknowledge.worldbank.org. World Bank. Retrieved 16 June 2020.
5. ^ "Poverty headcount ratio at national poverty lines (% of population)". Retrieved eleven June 2015.
6. ^ "Poverty headcount ratio at national poverty line (% of population)". The World Bank . Retrieved eighteen September 2014.
7. ^ "GINI index (World Banking concern estimate) – Dominican Commonwealth". data.worldbank.org. Globe Banking concern. Retrieved 30 March 2020.
8. ^ "Human being Development Index (HDI)". hdr.undp.org. HDRO (Human being Evolution Report Office) United Nations Development Programme. Retrieved 11 December 2019.
9. ^ "Inequality-adapted Human Evolution Index (IHDI)". hdr.undp.org. HDRO (Human Development Report Role) United Nations Evolution Programme. Retrieved eleven December 2019.
10. ^ "Ease of Doing Business in Dominican Republic". Doingbusiness.org. Retrieved 27 January 2017.
11. ^ "Export Partners of Dominican Democracy". CIA Earth Factbook. 2017. Retrieved 26 July 2018.
12. ^ "Import Partners of Dominican Republic". CIA World Factbook. 2017. Retrieved 26 July 2018.
13. ^ "Sovereigns rating list". Standard & Poor's. Retrieved 26 May 2011.
14. ^ "Country and Lending Groups". Archived from the original on 24 May 2008. Retrieved 11 June 2015.
15. ^ ^{a b c} "Foreign investment in the Dominican Republic - Santandertrade.com". santandertrade.com . Retrieved 17 March 2021.
16. ^ "Dominican Republic (DOM) Exports, Imports, and Trade Partners". oec.globe . Retrieved 2 July 2021.
17. ^ "Overview". Globe Bank . Retrieved 17 March 2021.
18. ^ "The World's 10 Largest Gold Mines by Production".
19. ^ "World Top 20 Gilded: Countries, Companies and Mines".
20. ^ ^{a b c d eastward} "Sector externo". www.bancentral.gov.do . Retrieved 17 March 2021.
21. ^ Mejia, Felivia (12 June 2020). "RD, la isla de los dispositivos médicos". Forbes Centroamérica • Información de negocios y estilo de vida para los líderes de Centroamérica y RD (in Mexican Spanish). Retrieved 29 April 2021.
22. ^ "Dispositivos médicos encabezan exportaciones de las zonas francas dominicanas". Periódico elDinero (in Spanish). 11 Jan 2019. Retrieved 29 April 2021.
23. ^ ^{a b} "Banco Central informa que las remesas recibidas al cierre de 2020 superan por primera vez los US$8,200 millones". www.bancentral.gov.practice . Retrieved 17 March 2021.
24. ^ Meyers, Deborah Waller. Migrant Remittances to Latin America; Reviewing the Literature, Washington DC; Inter-American Dialogue 1998
25. ^ "Dominican Commonwealth - The World Factbook". www.cia.gov . Retrieved 19 March 2021.
26. ^ "Sector monetario y financiero". www.bancentral.gov.practise . Retrieved 30 June 2021.
27. ^ "OEC: Dominican Republic (DOM) Profile of Exports, Imports and Merchandise Partners". Observatory of Economic Complexity. Archived from the original on 17 September 2017. Retrieved 17 September 2017.
28. ^ "Dominican Commonwealth production in 2018, past FAO".
29. ^ "FAO Pesca y Acuicultura - Perfil del país". www.fao.org . Retrieved xviii March 2021.
30. ^ "USGS Nickel Production Statistics" (PDF).
31. ^ "Dominican Republic Gilded Product".
32. ^ "Dominican Democracy Silver Production".
33. ^ "Cuánto oro queda por extraer en el mundo (y dónde está la mina más productiva de América Latina)". BBC News Mundo (in Spanish). Retrieved 18 March 2021.
34. ^ "OEC Dominican Commonwealth". The Observatory of Economic Complexity. 31 December 2019. {{cite web}}: CS1 maint: url-status (link)
35. ^ "Dominican Republic - The World Factbook". www.cia.gov . Retrieved 18 March 2021.
36. ^ Gonzalez, Nancie. "Tourism Dominican Republic". Encyclopædia Britannica. Encyclopædia Britannica. Retrieved seven December 2014.
37. ^ ^{a b} Cabezas, Amalia (May 2008). "Tropical Blues: Tourism and Social Exclusion in the Dominican Commonwealth". Latin American Perspectives. 35 (iii): 21–36.
38. ^ Lionetti, Stefania; Gonzalez, Oscar (Jan 2012). "On the human relationship between tourism and growth in Latin America". Tourism and Hospitality Research. 1 (15–24). Retrieved ane October 2014.
39. ^ "El petróleo ya no es vital en la generación eléctrica de República Dominicana". Periódico elDinero (in Spanish). 5 February 2021. Retrieved 1 July 2021.
40. ^ "Dominican Commonwealth". U.South. Department of Land . Retrieved xi June 2015.
41. ^ "World Atlas – About Dominican Democracy". Retrieved eleven June 2015.
42. ^ "Situación actual del sistema eléctrico dominicano - CREES". world wide web.crees.org.exercise . Retrieved 18 March 2021.
43. ^ "Estadísticas Energéticas – Comisión Nacional de Energía". world wide web.cne.gob.do . Retrieved 17 March 2021.
44. ^ "Central Termoeléctrica Punta Catalina | Portal Web Central Termoeléctrica Punta Catalina" (in Spanish). Retrieved 17 March 2021.
45. ^ "Study for Selected Countries and Subjects". www.imf.org . Retrieved 16 December 2018.

curdpreempory.blogspot.com

Source: https://en.wikipedia.org/wiki/Economy_of_the_Dominican_Republic

Share this post