The Republic Of Dominican Republic

1338 WordsDec 16, 20146 Pages
Kevin Liu Dominican Republic Dominican Republic was founded long ago. The land was amazing for growing crops. Many people started to become interested in what the country had to offer. Problems began to arise when people did not have many jobs to support themselves with. Economically the country was suffering but many things were experimented to increase the overall income of the people. Soon, agriculture was not the only source of income. The country relied on tourism, agriculture, and many other things to help them provide jobs to the people. Around the late 1980’s and 1990’s, the GDP fell by 5% and price inflation reached 100%. After this period, the Dominican Republic was about to experience a new stage of development. It became a time of moderate growth and declining inflation. In 1995 inflation was roughly at 9%, while GDP grew by 4.5%. A year later the inflation rates dropped 5% and the GDP grew to about 7.3%. The Dominican Republic is somewhat a middle-income developing country that is mostly focused on agriculture, trade, and tourism. The export of agricultural goods such as coffee, sugar, rice, beef, cocoa, plantains, bananas, and flowers are among the things that help this country survive economically. 40%of the population makes their living farming and another 10% have occupations that came from agriculture. Agriculture has always been the one thing that the Dominican Republic can depend on, but they are many others such as tourism earnings and
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