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| Government Type |
parliamentary democracy; republic within the Commonwealth |
| Legal System |
based on English common law |
| Currency |
East Caribbean dollar (XCD) |
| Economic Overview |
The Dominican economy depends on agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Hurricane Luis devastated the country's banana crop in 1995 after tropical storms wiped out a quarter of the 1994 crop. The economy subsequently has been fueled by increases in construction, soap production, and tourist arrivals. Development of the tourism industry remains difficult however, because of the rugged coastline, lack of beaches, and the absence of an international airport. Economic growth is sluggish, and unemployment is greater than 20%. The government has been attempting to develop an offshore financial sector in order to diversify the island's production base. |
| Natural Resources |
timber, hydropower, arable land |
| Primary Industries |
soap, coconut oil, tourism, copra, furniture, cement blocks, shoes |
| Agricultural Products |
bananas, citrus, mangoes, root crops, coconuts, cocoa; forest and fishery potential not exploited |
| Import Commodities |
manufactured goods, machinery and equipment, food, chemicals |
| Export Commodities |
bananas, soap, bay oil, vegetables, grapefruit, oranges |
| Export Partners |
Caricom countries 47%, UK 36%, US 7% (2000) |
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