Countries > In the past, working in the Dominican Republic meant you were in the export business. Remittances from the US amount to about a tenth of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. Google+, © Copyright: 2021. Online Store Dominican Republic, Nov. 23, 2020 (GLOBE NEWSWIRE) — In an effort to help reduce the spread of COVID-19, starting November 29, 2020, the Dominican Republic will adopt a new electronic system providing digital versions of the Traveler’s Health Affidavit, Customs Declaration and International Boarding/Disembarking forms, combined in a single digital form. Dominican Republic Economic Growth The economy should bounce back next year, supported by a recovery in the U.S.—the key source of exports and remittances—and stronger domestic activity. $1 = 37.5 DOP (May 2011). The national capital is Santo Domingo, on the southern coast. The decision not to cut further was likely influenced by improving domestic dynamics, with the decline in economic activity continuing to moderate through November. In the first quarter of 2013, GDP growth fell down to 0.3% year-on-year, but growth picked up again in the two following quarters. This page provides forecast and historical data, charts, statistics, news and updates for Dominican Republic … Simply enter your email address below and we’ll send you a FREE REPORT – Dominican Republic: The “Fairest Land Under Heaven” Gives Tax incentives to Retiring Expats. Sign in to access your subscriptions and subscriber-only content. LinkedIn Droughts, along with frequent hurricanes, mudslides and floods, cause real problems for small-scale farmers who rely on their crop yield to feed their families who, … Press After a broad-based economic expansion of 3.9% in 2012, the economy of the Dominican Republic started to slow down at the start of 2013. The Dominican Republic’s hurricane season runs from June 1 through Nov. 30 every year. Traditionally, the economy of the Dominican Republic has been based primarily on agriculture, with sugar, coffee and tobacco as the main export crops, but over the last few years the services sector has become the largest employer (about 60% of the labor force), led by tourism. Agriculture is the second most important industry particularly in export earnings just behind mining. 5 years of Dominican Republic economic forecasts for more than 30 economic indicators. After a broad-based economic expansion of 3.9% in 2012, the economy of the Dominican Republic started to slow down at the start of 2013. At its end-November meeting, the Central Bank kept the policy rate at 3.00% for the third month running, following sizable easing earlier in the year. The Caribbean island nation has long been a leading exporter of sugar, tobacco, and coffee. Economic Indicators for Dominican Republic including actual values, historical data charts, an economic calendar, time-series statistics, business news, long term forecasts and short-term predictions for Dominican Republic economy. Dominican Republic Travel Information, News, Business Guide, Real Estate, Vacation Planner, History, Economic Indicators, Directories, Image Galleries The country is categorized as a developing, upper-middle-income nation and its economy is highly dependent on tourism, agriculture, mining, and trade. https://www.focus-economics.com/countries/dominican-republic The Dominican Republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy's largest employer, due to growth in construction, tourism, and free trade zones. 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