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Country name:

conventional long form: Dominican Republic
conventional short form: none
local long form: Republica Dominicana
local short form: none

 

Description:
The Dominican Republic shares the Caribbean island of Hispaniola with Haiti and constitutes the eastern two-thirds of land. The landscape is forested and mountainous, with valleys, plains and plateaux. The soil is fertile with excellent beaches on the north, southeast and east coasts, rising up to the mountains.
 

 

Capital:

Santo Domingo. Population: 2.2 million (2006).

 

Location:

Caribbean, island of Hispaniola, east of Cuba.

 

Area:

 48,072 sq km (18,696 sq miles).

 

 

Map of Dominican Republic

Population:

9.2 million (2006).
 

 

Languages:

 Spanish

 

Economy - overview:

Agricultural cash crops and the mining industry form the basis of the Dominican Republic's economy and are the country's main export commodities. Other industrial investments are food, drinks, chemicals and the refining of imported oil. Tourism now contributes one-sixth of total output.
The economy experienced some problems with growth and unemployment in 2003. At the same time, the Dominican peso lost a third of its value against the dollar. (A major cause was the collapse of the international sugar market.) Strict fiscal targets agreed in the 2004 renegotiation of an IMF standby loan helped President Fernandez stabilise the country's financial situation.
The economy is growing respectably but unemployment remains a difficulty. Another problem is income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% has nearly 40%. The country relies on substantial foreign aid.
The Dominican Republic is a member of CARICOM, the major regional trading bloc.

 

Economy:

Agricultural cash crops and the mining industry form the basis of the Dominican Republic's economy and are the country's main export commodities. Other industrial investments are food, drinks, chemicals and the refining of imported oil. Tourism now contributes one-sixth of total output.
The economy experienced some problems with growth and unemployment in 2003. At the same time, the Dominican peso lost a third of its value against the dollar. (A major cause was the collapse of the international sugar market.) Strict fiscal targets agreed in the 2004 renegotiation of an IMF standby loan helped President Fernandez stabilise the country's financial situation.
The economy is growing respectably but unemployment remains a difficulty. Another problem is income inequality; the poorest half of the population receives less than one-fifth of GNP, while the richest 10% has nearly 40%. The country relies on substantial foreign aid.
The Dominican Republic is a member of CARICOM, the major regional trading bloc.

 

Industries:

tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco

 

Exports:

Ferronickel, sugar, gold, coffee and cocoa.
Main trade partners: Canada, Colombia, Japan, Mexico and USA.

Imports:

Food, petroleum, cotton, chemicals and pharmaceuticals.

Exchange rates:
 

http://www.worldtravelguide.net/country/77/business/Caribbean/Dominican-Republic.html

GDP :
 

US$29.3 billion (2005).
 

 

Useful links:

  • Ministries & Organization
 

 

 

  • Trade Associations & Chamber of Commerce
 

 

 

 

 

  • Trade Fairs

 

 

 

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  Copyright By :  Kish Trade Promotion Center  2002