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RE/MAX Dominican Republic Real Estate
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General Information about the Dominican Republic

Dominican Republic MapLocation:
Caribbean, eastern two-thirds of the island of Hispaniola, between
the Caribbean Sea and the North Atlantic Ocean, east of Haiti

Geographic coordinates:
19 00 N, 70 40 W

Area:
48,730 sq km

Coastline:
1,288 km

Climate:
tropical maritime; little seasonal temperature variation; seasonal variation in rainfall

Elevation extremes:
lowest point: Lago Enriquillo -46 m
highest point: Pico Duarte 3,175 m

Population:
9,183,984 (July 2006 est.)

Ethnic groups:
mixed 73%, white 16%, black 11%

Religions:
Roman Catholic 95%

Languages:
Spanish

Government type:
representative democracy

Administrative divisions:
31 provinces (provincias, singular - provincia) and 1 district* (distrito); Azua, Baoruco, Barahona, Dajabon, Distrito Nacional*, Duarte, El Seibo, Elias Pina, Espaillat, Hato Mayor, Independencia, La Altagracia, La Romana, La Vega, Maria Trinidad Sanchez, Monsenor Nouel, Monte Cristi, Monte Plata, Pedernales, Peravia, Puerto Plata, Salcedo, Samana, San Cristobal, San Jose de Ocoa, San Juan, San Pedro de Macoris, Sanchez Ramirez, Santiago, Santiago Rodriguez, Santo Domingo, Valverde

Legal system:
based on French civil codes; Criminal Procedures Code modified in 2004 to include important elements of an accusatory system; accepts compulsory ICJ jurisdiction

Economy - overview:
The Dominican Republic is a Caribbean representative democracy that enjoyed strong GDP growth until 2003. 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. Growth turned negative in 2003 with reduced tourism, a major bank fraud, and limited growth in the US economy (the source of about 80% of export revenues), but recovered in 2004 and 2005. With the help of strict fiscal targets agreed in the 2004 renegotiation of an IMF standby loan, President FERNANDEZ has stabilized the country's financial situation. Although the economy continues to grow at a respectable rate, unemployment 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 Dominican Republic's development prospects improved with the ratification of the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) in September 2005.

Agriculture - products:
sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs

Industries:
tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco

Currency:
Dominican peso (DOP)

source: https://www.cia.gov/cia/publications/factbook/geos/dr.html