Region: Caribbean

Capital: Santo Domingo

Population: 9,507,133 (July 2008 est.)

Surface area: 48,380 sq km

Currency: Dominican peso (DOP)

GDP per capita: Purchasing power parity US $7,000 (2007 est.)

Background:
Explored and claimed by Christopher Columbus on his first voyage in 1492, the island of Hispaniola became a springboard for Spanish conquest of the Caribbean and the American mainland. In 1697, Spain recognized French dominion over the western third of the island, which in 1804 became Haiti. The remainder of the island, by then known as Santo Domingo, sought to gain its own independence in 1821, but was conquered and ruled by the Haitians for 22 years; it finally attained independence as the Dominican Republic in 1844. In 1861, the Dominicans voluntarily returned to the Spanish Empire, but two years later they launched a war that restored independence in 1865. A legacy of unsettled, mostly non-representative rule followed, capped by the dictatorship of Rafael Leonidas Trujillo from 1930-61. Juan Bosch was elected president in 1962, but was deposed in a military coup in 1963. In 1965, the United States led an intervention in the midst of a civil war sparked by an uprising to restore Bosch. In 1966, Joaquin Balaguer defeated Bosch in an election to become president. Balaguer maintained a tight grip on power for most of the next 30 years when international reaction to flawed elections forced him to curtail his term in 1996. Since then, regular competitive elections have been held in which opposition candidates have won the presidency. Former President (1996-2000) Leonel Fernandez Reyna won election to a second term in 2004 following a constitutional amendment allowing presidents to serve more than one term.

Economy – Overview
The Dominican Republic has enjoyed strong GDP growth since 2005, with double digit growth in 2006. In 2007, exports were bolstered by the nearly 50% increase in nickel prices; however, prices are expected to fall in 2008, contributing to a slowdown in GDP growth for the year. 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 economy is highly dependent upon the US, the source of nearly three-fourths of exports, and remittances represent about a tenth of GDP, equivalent to almost half of exports and three-quarters of tourism receipts. With the help of strict fiscal targets agreed to in the 2004 renegotiation of an IMF standby loan, President Fernandez has stabilized the country's financial situation, lowering inflation to less than 6%. A fiscal expansion is expected for 2008 prior to the elections in May and for Tropical Storm Noel reconstruction. Although the economy is growing at a respectable rate, high unemployment and underemployment remains an important challenge. 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 Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, which should boost investment and exports and diminish losses to the Asian garment industry.

Major Export Commodities: ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods

Remittances: US $3,173 million (2006)

Human Development Index 2007/2008 ranking: 79 out of 177

Official Development Assistance and Major Development Partners: Net ODA in 2006 was US $12.96 million. Major development partners are the European Community, the United States, and Spain.

Total External Debt: US $10.21 billion (31 December 2007 est.)

United Nations membership date: 24 October 1945

New York Mission:
Permanent Mission of the Dominican Republic to the United Nations
144 East 44th Street, 4th Floor
New York, N.Y. 10017 USA
Telephone: 212-867-0833, 0834, 661-2432
Fax: 212-986-4694

Website: http://dominicanrepublic.un.int

Sources:

CIA World Factbook. Central Intelligence Agency. www.cia.gov 

World Development Indicators. World Bank www.worldbank.org

Development, Recipient Aid Charts. Organization for Economic Co-operation and Development. www.oecd.org

Human Development Report 2007/2008.United Nations Development Programme. www.undp.org

Updated June 2008