Names: conventional long form: Dominican Republic conventional short form: The Dominican local long form: Republica Dominicana local short form: La Dominicana
Capital City: Santo Domingo
Population: 9,183,984 (July 2006 est.)
GDP Per Capita: $8,000 (2006 est.)
Currency: Dominican peso (DOP)
Languages: Spanish
Total Area: total: 48,730 sq km land: 48,380 sq km water: 350 sq km slightly more than twice the size of New Hampshire
Region: North America
Industries: tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco
Agriculture: sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs
Resources: nickel, bauxite, gold, silver
Labor Force:
3.896 million (2006 est.)
agriculture: 17% industry: 24.3% services: 58.7% (1998 est.)
Exports:
$6.495 billion f.o.b. (2006 est.)
ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods
Imports:
$11.39 billion f.o.b. (2006 est.)
foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
Overview:
The Dominican Republic is a Caribbean representative democracy that enjoyed strong GDP growth until 2003. 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. Growth turned negative in 2003 with reduced tourism, a major bank fraud, and limited growth in the US economy (the source of about 80% of export revenues), but recovered in 2004-06. With the help of strict fiscal targets agreed in the 2004 renegotiation of an IMF standby loan, President FERNANDEZ has stabilized the country's financial situation. Although the economy continues to grow at a respectable rate, high unemployment and inflation remain important challenges. 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. The Dominican Republic's development prospects improved with the ratification of the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) in September 2005.
In 2007 Missouri exported $15,827,224 in goods to Dominican Republic. This ranks Dominican Republic 55th among the 223 international buyers of Missouri goods. Missouri exports to Dominican Republic decreased from the previous year by $4,147,074 a change of -20.76%. State exports to Dominican Republic have increased over the last 5 years by $6,488,108 a change of 69.47%. Missouri exports account for .12%. of all 2007 US exports to Dominican Republic.
| NAICS Industry | Annual | ||||||
|---|---|---|---|---|---|---|---|
| 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | ||
| 000 - Total All Industries MO | 9,339,116 | 5,711,951 | 10,493,992 | 22,026,993 | 19,974,298 | 15,827,224 | |
| 000 - Total All Industries US | 4,261,556,126 | 4,213,554,761 | 4,342,881,839 | 4,708,526,021 | 5,347,802,072 | 6,090,850,952 | |