00, APO AA 34041-5500
telephone: [1] (809) 221-2171
FAX: [1] (809) 686-7437

Flag description:
a centered white cross that extends to the edges divides the flag
into four rectangles - the top ones are blue (hoist side) and red,
and the bottom ones are red (hoist side) and blue; a small coat of
arms featuring a shield supported by an olive branch (left) and a
palm branch (right) is at the center of the cross; above the shield
a blue ribbon displays the motto, DIOS, PATRIA, LIBERTAD (God,
Fatherland, Liberty), and below the shield, REPUBLICA DOMINICANA
appears on a red ribbon

Economy Dominican Republic

Economy - overview:
The Dominican Republic is a Caribbean representative democracy
which enjoyed GDP growth of more than 7% in 1998-2000. Growth
subsequently plummeted as part of the global economic slowdown.
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% enjoys
nearly 40% of national income. Growth turned negative in 2003 with
reduced tourism, a major bank fraud, and limited growth in the US
economy (the source of about 85% of export revenues), but recovered
slightly in 2004. Resumption of a badly needed IMF loan, slowed due
to government repurchase of electrical power plants, is basic to the
restoration of social and economic stability. Newly elected
President FERNANDEZ in mid-2004 promised belt-tightening reform. His
administration has passed tax reform and is working to meet
preconditions for a $600 IMF standby arrangement to ease the
country's fiscal situation.

GDP (purchasing power parity):
$55.68 billion (2004 est.)

GDP - real growth rate:
1.7% (2004 est.)

GDP - per capita:
purchasing power parity - $6,300 (2004 est.)

GDP - composition by sector:
agriculture: 10.7%
industry: 31.5%
services: 57.8% (2003)

Labor force:
2.3 million - 2.6 million (2000 est.)

Labor force - by occupation:
agriculture 17%, industry 24.3%, services and government 58.7%
(1998 est.)

Unemployment rate:
17% (2004 est.)

Population below poverty line:
25%

Household income or consumption by percenta