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The economy of the Dominican Republic has shifted from an agricultural based one to a diversified economy where services, commerce, industry and tourism have a greater role. The contribution of agriculture to the Gross domestic product (GDP) has been declining since 1962 when it represented 32%, to only 13% in 2008.
The Dominican Republic's ten administrative subdivisions each play a unique role in the nation's economy, with most having an industrial [4] and agricultural [4] base. Cibao Nordeste and Cibao Noroeste are both significant agricultural hubs, known for their production of rice, cocoa, and other agro-industrial products.
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 [13] developing country with important sectors including mining, tourism, manufacturing (medical devices, electrical equipment, pharmaceuticals, and chemicals), energy, real estate, infrastructure ...
Country/Economy Total GDP (USD$) Agricultural (%) Industrial (%) Service (%) Agricultural (USD$) Industrial (USD$) Service (USD$) – World 104,480
Today it is one of the Dominican Republic's cultural, political, industrial and financial centers. Due to its location in the fertile Cibao Valley, it has a robust agricultural sector and is a leading exporter of rum, textiles, and cigars. [7] Santiago is known as "La Ciudad Corazón" (the "Heartland City"). [8]
Along with climate and corresponding types of vegetation, the economy of a nation also influences the level of agricultural production. Production of some products is highly concentrated in a few countries, China, the leading producer of wheat and ramie in 2013, produces 95% of the world's ramie fiber but only 17% of the world's wheat.
The United States and the Dominican Republic on Friday said they would form a technical working group to help improve labor law enforcement in the Dominican sugar sector amid concerns voiced by U ...
According to the Food and Agriculture Organization, the Dominican Republic dams’ storage capacity is 2,144 million m 3, 85 percent of which is stored in reservoirs behind large dams (those whose capacity exceeds 100 million m3). Most large reservoirs store water for multiple purposes (drinking water supply, flood control, irrigation and ...