Private consumption has been strong, as a result of low inflation (under 1% on average in 2015), job creation, and a high level of remittances. The country is the site of the third largest gold mine in the world, the Pueblo Viejo mine. Recent growth has been driven by construction, manufacturing, tourism, and mining. In the first half of 2016, the Dominican economy grew 7.4% continuing its trend of rapid economic growth. GDP growth in 20 reached 7.3 and 7.0%, respectively, the highest in the Western Hemisphere.
Over the last 25 years, the Dominican Republic has had the fastest-growing economy in the Western Hemisphere – with an average real GDP growth rate of 5.3% between 19. State Department and the World Bank) in the Caribbean and Central American region and is the seventh-largest economy in Latin America. The Dominican Republic has the largest economy (according to the U.S. He was later succeeded by Luis Abinader in the 2020 presidential election after anti-government protests erupted that year. Danilo Medina succeeded Fernández in 2012, winning 51% of the electoral vote over his opponent ex-president Hipólito Mejía. Since 1978, the Dominican Republic has moved toward representative democracy, and has been led by Leonel Fernández for most of the time after 1996. military intervention and was followed by the authoritarian rule of Joaquín Balaguer (1966–19–1996).
A civil war in 1965, the country's last, was ended by U.S. Juan Bosch was elected president in 1962 but was deposed in a military coup in 1963. From 1930 the dictatorship of Rafael Leónidas Trujillo ruled until his assassination in 1961. occupied the Dominican Republic (1916–1924) due to threats of defaulting on foreign debts a subsequent calm and prosperous six-year period under Horacio Vásquez followed. During this period, three presidents were assassinated ( José Antonio Salcedo in 1864, Ulises Heureaux in 1899, and Ramón Cáceres in 1911). Over the next 72 years, the Dominican Republic experienced mostly civil wars (financed with loans from European merchants), several failed invasions by its neighbour, Haiti, and brief return to Spanish colonial status, before permanently ousting the Spanish during the Dominican War of Restoration of 1863–1865. Independence came 22 years later in 1844, after victory in the Dominican War of Independence.
The leader of the independence movement, José Núñez de Cáceres, intended the Dominican nation to unite with the country of Gran Colombia, but the newly independent Dominicans were forcefully annexed by Haiti in February 1822. Īfter more than three hundred years of Spanish rule, the Dominican people declared independence in November 1821. In 1697, Spain recognized French dominion over the western third of the island, which became the independent state of Haiti in 1804. The survivors intermixed with Spaniards, Africans, and others, forming today's tripartite Dominican population. After twenty-five years of Spanish occupation, the Taíno population in the Spanish-dominated parts of the island significantly decreased due to genocide. The colony of Santo Domingo became the site of the first permanent European settlement in the Americas and the first seat of Spanish colonial rule in the New World. The Genoese mariner Christopher Columbus explored and claimed the island for Castile, landing there on his first voyage in 1492. The Taínos also inhabited Cuba, Jamaica, Puerto Rico, and the Bahamas. They had constructed an advanced farming and hunting society, and were in the process of becoming an organized civilization. The native Taíno people had inhabited Hispaniola before the arrival of Europeans, dividing it into five chiefdoms.
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Sources for area, capital, coat of arms, coordinates, flag, language, motto and names: įor an alternate area figure of 48,730 km 2 (18,810 sq mi), calling code 809 and Internet TLD:
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