Dominican Republic

Climate
The country is a Tropical maritime nation, with a wet season from May to November, and periodic Hurricanes between June and November. Most rain falls in the Northern and Eastern regions. The average rainfall is 1346 mm, with extremes of 2500 mm in the North-east and 500 mm in the West. The mean annual temperature ranges from 21?C in the mountainous regions to 25?C on the plains and the coast. The average temperature in Santo Domingo in January is 23.9?C and 27.2?C in July

Economy
The Dominican Republic is a middle-income developing country primarily dependent on trade, and services, especially tourism. 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. Tourism accounts for more than $3 billion in annual earnings. Free Trade Zone earnings and tourism are the fastest-growing export sectors. Remittances (remesas) from Dominicans living abroad are estimated to be about $3 billion per year.

Following economic turmoil in the late 1980s and 1990, during which the GDP fell by up to 5% and consumer price inflation reached an unprecedented 100%, the Dominican Republic entered a period of moderate growth and declining inflation until 2002 after which the economy entered a recession, after the second commercial bank of the country (Baninter) collapsed, caused by a major fraud of 3.5 billion of dollars during the administration of President Hipolito Mejia (2000-2004). The Baninter fraud had a devastating effect on the Dominican economy, with GDP dropped by 1% in 2003 while inflation ballooned by over 27%. With the election of former president Leonel Fern?ndez in 2004 and implementation of economic reforms, the economy has re-stabilised and strong GDP growth has resumed. The growth of the Dominican economy remains significantly hampered by an ongoing energy shortage, which causes frequent blackouts and 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, and has agreed to pay arrears of about $130 million to the U.S. Department of Agriculture's Commodity Credit Corporation.

According to the 2005 Annual Report of the United Nations Subcommittee on Human Development in the Dominican Republic, the country is ranked # 71 in the world for resource availability, # 94 for human development, and # 14 in the world for resource mismanagement. These statistics emphasise the national government corruption, the foreign economic interference in the country, and the rift between the rich and poor.

by Wikipedia.org