rectangles--the top ones are blue
(hoist side) and red, the bottom ones are red (hoist side) and blue;
a small coat of arms is at the center of the cross

Economy

Economy--overview: In December 1996, incoming President FERNANDEZ
presented a bold reform package for this Caribbean economy--including
the devaluation of the peso, income tax cuts, a 50% increase in
sales taxes, reduced import tariffs, and increased gasoline
prices--in an attempt to create a market-oriented economy that can
compete internationally. Even though most reforms are stalled in the
legislature, the economy grew vigorously in 1997-98, with tourism
and telecommunications leading the advance. The government is
working to increase electric generating capacity, a key to continued
economic growth, but the privatization of the state electricity
company has met numerous delays. In late September 1998, Hurricane
Georges caused approximately $1.3 billion in damages, largely to
agriculture and infrastructure.

GDP: purchasing power parity--$39.8 billion (1998 est.)

GDP--real growth rate: 7% (1998 est.)

GDP--per capita: purchasing power parity?$5,000 (1998 est.)

GDP--composition by sector:
agriculture: 19%
industry: 25%
services: 56% (1996 est.)

Population below poverty line: 20.6% (1992 est.)

Household income or consumption by percentage share:
lowest 10%: 1.6%
highest 10%: 39.6% (1989)

Inflation rate (consumer prices): 6% (1998 est.)

Labor force: 2.3 million to 2.6 million

Labor force--by occupation: agriculture 50%, services and
government 32%, industry 18% (1991 est.)

Unemployment rate: 16% (1997 est.)

Budget:
revenues: $2.3 billion
expenditures: $2.9 billion, including capital expenditures of $867
million (1999 est.)

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

Industrial production growth rate: 6.3% (1995 est.)

Electricity--production: 6.7 billion kWh (1996)

Electricity--production by source:
fossil fuel: 70.15%
hydro: 29.85%
nuclear: 0%
other: 0% (1996)

Electricity--consumption: 6.7 billion kWh (1996)

Electricity--exports: 0 kWh (1996)

Electricity--imports: 0 kWh (1996)

Agriculture--products: sugarcane, coffee, cotton, cocoa, tobacco,
rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products,
beef, eggs

Exports: $997 million (1997 est.)

Exports--commodities: ferronickel,