Includes historical data for Dominican Republic’s Gross Domestic Product growth, debt-to-GDP ratio and more, as well as information on trade, banking and financial sector leadership.
Economy Based On Tourism And FDI
Over the past several decades, the Dominican Republic has been one of the fastest-growing economies in Latin America. As a stable democracy and a popular tourist destination, it boasts a strong infrastructure network and benefits from the CAFTA-DR free trade agreement with the US and an economic partnership with the EU. Thanks to generous tax exemptions and other incentives, this Caribbean country has become a significant recipient of foreign investment, particularly in the sectors of tourism, telecommunications, real estate, mining, and financing. Challenges include a lack of transparency and poor implementation of existing laws, along with vulnerability to extreme climate events.
Macroeconomy & Sovereign Data
| Type of Government | Presidential republic |
|---|---|
| Capital | Santo Domingo |
| Sovereign Ratings |
S&P: Not rated Moody’s: Not rated Fitch: Not rated |
| Total Population | 10.8 million |
| Median Age | 28.1 |
| Adult Per Capita Income (PPP) | 32,388.93 |
| Total GDP (2023) | 127.4 billion |
Dominican Republic GDP & Economic Overview
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The Dominican Republic
Economics, Policy & Regulation
Executive Insights: Dominican Republic Central Bank Governor Hector Valdez Albizu
Banking & Finance
Trade & Investment
| Total Exports | USD 27.2 billion (2023) |
|---|---|
| Leading Exports |
Gold Medical Instruments Cigars Low-Voltage Protection Equipment Iron Alloys Clothing |
| Total Imports | USD 12.6 billion (2022) |
| Leading Imports |
Refined Petroleum Cars Natural Gas Jewelry Vaccines And Cultures |
| Source: | World Integrated Trade Solution |
Dominican Republic Leading Companies
| BanReservas | Financials |
|---|---|
| BHD Bank | Financials |
| Grupo León Jimenes | Consumer Staples, Diversified Food Producers |
| Cervecería Nacional Dominicana | Consumer Staples, Brewers |
| Arajet Transports | Airlines |
| Claro Dominicana | Telecommunication Services |
| Grupo Corripio | Conglomerates, Media & Entertainment, Energy, Materials |
Major Trade Partners — Import
| United States | 52% |
|---|---|
| China | 16% |
| Mexico | 4% |
| Brazil | 4% |
| Spain | 3% |
Major Trade Partners — Export
| United States | 56% |
|---|---|
| Switzerland | 8% |
| Haiti | 8% |
| India | 6% |
| Netherland | 4% |
Global Finance Rankings & Awards
Data Sources:
UN World Population Prospects
World Inequality Report
S&P Global Ratings
Moody’s
Fitch Ratings
IMF Direction of Trade Statistics (DOTS)
UN Conference on Trade and Development (UNCTAD)
CIA The World Factbook
World Bank’s World Integrated Trade Solution
Forbes Global 2000