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From: George Orwell on 18 Jun 2010 15:24
Economy


Santo Domingo, the capital of the Republic and its largest city.
See also: Economy of the Dominican Republic
See also: Dominican Peso
The Dominican Republic has the second largest economy[9] (the largest, according to the U.S. State Department)[14] in Central America and the Caribbean. It is an upper middle-income developing country,[62] with a 2007 GDP per capita of DOP, or RD$$29,208, in PPP terms, which is relatively high in Latin America. In the trimester of January�March 2007 it experienced an exceptional growth of 29.1% in its GDP, which was actually below the previous year's 10.9% in the same period. Growth was led by imports, followed by exports, with finance and foreign investment the next largest factors.[63]


Santiago de los Caballeros, the second largest city in the country
The D.R. is primarily dependent on natural resources and government services. Although the service sector has recently overtaken agriculture as the leading employer of Dominicans (due principally to growth in tourism and Free Trade Zones), agriculture remains the most important sector in terms of domestic consumption and is in second place, behind mining, in terms of export earnings. The service sector in general has experienced growth in recent years, as has construction. Free Trade Zone earnings and tourism are the fastest-growing export sectors. Real estate tourism alone accounted for $11.5 billion in earnings for 2009.[64] Remittances from Dominicans living abroad amounted to nearly $33.2 billion in 2009.[14]


The Naco sector, in Santo Domingo, with a view of Tiradentes Avenue
Economic growth takes place in spite of a chronic energy shortage,[65] which causes frequent blackouts and very high prices. Despite a widening merchandise trade deficit, tourism earnings and remittances have helped build foreign exchange reserves. The Dominican Republic is current on foreign private debt.[citation needed]
Following economic turmoil in the late 1980s and 1990, during which the gross domestic product (GDP) fell by up to.15% and consumer price inflation reached an unprecedented .10%, the Dominican Republic entered a period of growth and declining inflation until 2002, after which the economy entered a recession.[14]


La Trinitaria in Santiago de Los Caballeros is an area of increasi


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