| ECONOMY |
| Overview |
The
Dominican Republic's economy experienced dramatic growth over
the last decade, even though the economy was hit hard by Hurricane
Georges in 1998. 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% enjoy nearly
40% of national income. Growth probably will slow in 2003
with reduced tourism and expected low growth in the US economy,
the source of 87% of export revenues. |
| GDP |
purchasing
power parity - $53.78 billion (2002 est.) |
| GDP
- real growth rate |
4.1% (2002
est.) |
| GDP
- per capita |
purchasing
power parity - $6,300 (2002 est.) |
| GDP
- composition by sector |
agriculture:
11%
industry: 34%
services: 55% (2001) |
| Population
below poverty line |
25% |
| Inflation
rate (consumer prices) |
5.3% (2002
est.) |
| Labor
force |
2.3 million
- 2.6 million |
| Labor
force - by occupation |
services
and government 58.7%, industry 24.3%, agriculture 17% (1998
est.) |
| Unemployment
rate |
14.5% (2002
est.) |
| Industries |
tourism,
sugar processing, ferronickel and gold mining, textiles, cement,
tobacco |
| Industrial
production growth rate |
2% (2001
est.) |
