| Economy - 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 telecommunications, tourism, and free trade zones. The economy is highly dependent upon the US, the destination for more than half of exports. Remittances from the US amount to about a 10th of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The growth of the Dominican Republic's economy rebounded from the global recession in 2010-12 and remains one of the fastest growing in the region although its fiscal situation is weak; the fiscal deficit climbed from 2.6% in 2011 to approximately 8% in 2012. |
| GDP (purchasing power parity) | $98.74 billion (2012 est.)
$94.9 billion (2011 est.)
$90.83 billion (2010 est.)
note: data are in 2012 US dollars |
| GDP (official exchange rate) | $59.13 billion (2012 est.) |
| GDP - real growth rate | 4% (2012 est.)
4.5% (2011 est.)
7.8% (2010 est.) |
| GDP - per capita (PPP) | $9,600 (2012 est.)
$9,400 (2011 est.)
$9,200 (2010 est.)
note: data are in 2012 US dollars |
| GDP - composition by sector | agriculture: 6.1%
industry: 31.9%
services: 61.9% (2012 est.) |
| Population below poverty line | 34.4% (2010 est.) |
| Labor force | 4.806 million (2012 est.) |
| Labor force - by occupation | agriculture: 14.6%
industry: 22.3%
services: 63.1% (2005) |
| Unemployment rate | 14.7% (2012 est.)
14.6% (2011 est.) |
| Unemployment, youth ages 15-24 | total: 30.3%
male: 21.2%
female: 44.5% (2007) |
| Household income or consumption by percentage share | lowest 10%: 1.8%
highest 10%: 36.4% (2010 est.) |
| Distribution of family income - Gini index | 48.4 (2007)
47.4 (1998) |
| Investment (gross fixed) | 16.4% of GDP (2012 est.) |
| Budget | revenues: $8.338 billion
expenditures: $13.07 billion (2012 est.) |
| Taxes and other revenues | 14.1% of GDP (2012 est.) |
| Budget surplus (+) or deficit (-) | -8% of GDP (2012 est.) |
| Public debt | 40% of GDP (2012 est.)
38.6% of GDP (2011 est.) |
| Inflation rate (consumer prices) | 3.7% (2012 est.)
8.5% (2011 est.) |
| Commercial bank prime lending rate | 15.9% (31 December 2012 est.)
15.55% (31 December 2011 est.) |
| Stock of money | $3.619 billion (31 December 2008)
$4.065 billion (31 December 2007) |
| Stock of narrow money | $4.895 billion (31 December 2012 est.)
$4.409 billion (31 December 2011 est.) |
| Stock of quasi money | $5.902 billion (31 December 2008)
$5.64 billion (31 December 2007) |
| Stock of broad money | $17.85 billion (31 December 2012 est.)
$16.38 billion (31 December 2011 est.) |
| Stock of domestic credit | $22.68 billion (31 December 2012 est.)
$21.23 billion (31 December 2011 est.) |
| Market value of publicly traded shares | $NA |
| Agriculture - products | sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs |
| Industries | tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco |
| Industrial production growth rate | 1.5% (2010 est.) |
| Current Account Balance | -$4.254 billion (2012 est.)
-$4.521 billion (2011 est.) |
| Exports | $9.467 billion (2012 est.)
$8.536 billion (2011 est.) |
| Exports - commodities | ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods |
| Exports - partners | US 48.8%, Haiti 16.7% (2011) |
| Imports | $18.2 billion (2012 est.)
$17.42 billion (2011 est.) |
| Imports - commodities | foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals |
| Imports - partners | US 43.6%, Venezuela 7.2%, Mexico 5.8%, China 5.7% (2011) |
| Reserves of foreign exchange and gold | $4.317 billion (31 December 2012 est.)
$4.117 billion (31 December 2011 est.) |
| Debt - external | $16.58 billion (31 December 2012 est.)
$14.86 billion (31 December 2011 est.) |
| Stock of direct foreign investment - at home | $24.18 billion (31 December 2012 est.)
$21.38 billion (31 December 2011 est.) |
| Stock of direct foreign investment - abroad | $59 million (31 December 2012 est.)
$59 million (31 December 2011 est.) |
| Exchange rates | Dominican pesos (DOP) per US dollar -
39.42 (2012 est.)
38.232 (2011 est.)
37.307 (2010 est.)
36.03 (2009)
34.775 (2008) |
| Fiscal year | calendar year |
