Economy of the Dominican Republic
Channel: all the knowledge of the universe PRINCIPIA
Date: 2021-12-11

Economy of the Dominican Republic, by Wikipedia https://en.wikipedia.org/wiki?curid=8067 / CC BY SA 3.0

#Economy_of_the_Dominican_Republic
#World_Trade_Organization_member_economies
The economy of the Dominican Republic is the seventh largest in Latin America, and is the largest in the Caribbean and Central American region.
The Dominican Republic is an upper-middle income developing country with important sectors including mining, tourism, manufacturing （medical devices,
electrical equipment, pharmaceuticals, and chemicals）, energy, real estate, infrastructure, telecommunications and agriculture.
The Dominican Republic is on track to achieve its goal of becoming a high-income country by 2030, and is expected to grow 79% in this decade.
The country is the site of the single largest gold mine in Latin America, the Pueblo Viejo mine.
Although the service sector is currently the leading employer of Dominicans （due principally to growth in tourism and free-trade zones）, agriculture
remains an important sector in terms of the domestic market and is in second place （behind mining） in terms of export earnings.
Tourism accounts for more than $7.
4 billion in annual earnings in 2019.
Free-trade zone earnings and tourism are the fastest-growing export sectors.
A leading growth engine in the Free-trade zone sector is the production of medical equipment for export having a value-added per employee of $20,000 USD, total revenue of $1.
5 billion USD, and a growth rate of 7.
7% in 2019.
The medical instrument export sector represents one of the highest-value added sectors of the country's economy, a true growth engine for the country's emerging market.
Remittances are an important sector of the economy, contributing $8.
2 billion in 2020.
Most of these funds are used to cover household expenses, such as housing, food, clothing, health care and education.
Secondarily, remittances have financed businesses and productive activities.
Thirdly, this combined effect has induced investmen...