Includes The Dominican Republic real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, and GDP composition by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Dominican Republic economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of country best banks and safest banks are also available.
Basic Information
Government Type: Presidential republic
Capital City: Santo Domingo
GDP & Economic Information
Macroeconomy & Sovereign Data
| Central Bank | Central Bank of the Dominican Republic |
|---|---|
| Currency | Dominican pesos (DOP) |
| International Reserves |
USD 7.6 billion (2018) International Monetary Fund (IMF), data retrieved October 2019 |
| Gross Domestic Product – GDP | USD 80.9 billion (2018, estimate) |
| GDP (Purchasing Power Parity) | Intl$ 189.2 billion (2018, estimate) |
GDP Data
| Real GDP growth |
2007 7.4% 2008 3.2% 2009 0.9% 2010 8.3% 2011 3.1% 2012 2.7% 2013 4.9% 2014 7.6% 2015 7% 2016 6.6% 2017* 4.6% 2018* 7% *Estimate |
|---|---|
| GDP per capita – current prices | USD 7,880.6 (2018, estimate) |
| GDP per capita – PPP | Intl$ 18,424.6 (2018, estimate) |
| GDP (PPP) – share of world total |
1980 0.11% 1990 0.10% 2000 0.11% 2010 0.12% 2019* 0.14% |
| GDP – composition by sector |
agriculture: 19.3% industry: 19.7% services: 48.4% (2020 estimate) |
| Gross domestic expenditure on R&D; (% of GDP) |
agriculture: 5.5% industry: 27.9% services: 58.9% (2018 estimate) |
| Inflation |
2015 0.8% 2016 1.6% 2017 3.3% 2018* 3.6% 2019* 1.8% *Estimate |
The Dominican Republic
Economics, Policy & Regulation
Executive Insights: Dominican Republic Central Bank Governor Hector Valdez AlbizuInflation & Debt
| Inflation |
2015 0.8% 2016 1.6% 2017 3.3% 2018* 3.6% 2019* 1.8% *Estimate |
|---|---|
| Government Bond Ratings |
Standard & Poor’s: BB- Moody’: Ba3 Standard & Poor’s / Moody’s |
| Unemployment rate |
2015 7.3% 2016 7.1% 2017 5.5% 2018* 5.7% 2019* 5.5% *Estimate |
| Household saving rates | N/A |
| Public debt (General government gross debt as a % of GDP) |
2015 44.7% 2016 46.6% 2017 48.9% 2018* 50.5% 2019* 52.7% *Estimate |
| Public deficit (General government net lending/borrowing as a % of GDP) |
2015 0% 2016 -3.1% 2017 -3.3% 2018* -2.3% 2019* -3.1% *Estimate |
| Market value of publicly traded shares |
2016 N/A 2017 N/A 2018 N/A |
| Largest Companies | N/A |
Import/Export
| Exports as percent of GDP (Exports of goods and services) | 25.1% (2018) |
|---|---|
| Shares in world total merchandising export | 0.06% (2018) |
| Shares in world total commercial services export | 0.16% (2018) |
| Total exports | USD 18.8 billion (2018) |
| Export commodities | Gold, silver, cocoa, sugar, coffee, tobacco, meats, consumer goods |
| Total imports | USD 23.6 billion (2018 estimate) |
| Import commodities | Petroleum, foodstuffs, cotton and fabrics, chemicals and pharmaceuticals |
| Exports – major partners | US 50.3%, Haiti 9.1%, Canada 8.2%, India 5.6% (2017) |
| Imports – major partners | US 41.4%, China 13.9%, Mexico 4.5%, Brazil 4.3% (2017) |
Competitiveness & Trade
| Current account balance | USD -1.2 billion (2018 estimate |
|---|---|
| Current account balance by percentage of GDP | -1.4 % (2018 estimate) |
| FDI inflows |
2016 USD 2,407 million 2017 USD 3,571 million 2018 USD 2,535 million |
| FDI Outflows |
2016 USD N/A 2017 USD N/A 2018 USD N/A |
| Value of cross-border M&A, by country of purchaser |
2015 USD 34 millionUSD 34 millionUSD 34 million 2016 N/A 2017 USD 165 million 2018 N/A |
| Cross-border M&A deals worth over $3 billion completed in 2014 | N/A |
| Cross-border M&A deals worth over $3 billion completed in 2015 | N/A |
| Best countries for doing business |
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm. Overall ranking: 115 out of 190 countries Subcategories: Starting a Business: 112 out of 190 countries Dealing with Construction Permits: 80 out of 190 countries Getting Electricity: 116 out of 190 countries Registering Property: 74 out of 190 countries Getting Credit: 119 out of 190 countries Protecting Minority Investors: 143 out of 190 countries Paying Taxes: 150 out of 190 countries Trading across Borders: 66 out of 190 countries Enforcing Contracts: 133 out of 190 countries Resolving Insolvency: 124 out of 190 countries |
| Global competitiveness ranking |
78 out of 141 countries (2019) |
| Index of Economic Freedom |
Ranking: 89 / Score: 61 (Moderately free) (100=totally free 0=totally repressed) |
Population & Geographic Data
| Total Area | 48,670 sq km |
|---|---|
| Total Population |
1990 7.12 Million 2000 8.4 Million 2010 9.48 million 2015 9.98 Million 2020 10.47 Million |
| Urban population as % of total population |
1960 30.2% 1980 51.3% 2000 61.8% 2018 81.1% |
| Population median age | 27.3 years |
| Population growth rate | 0.99% (2018 estimate) |
| Life expectancy | 71.3 years (2018 estimate) |
| % of population living on less than $3.10 a day | 5.9% (last available estimate, 2016) |
| Inequality of wealth distribution (Gini index) |
45.7 (last available estimate, 2016) (0=perfect equality, 100=absolute inequality) |
| Freedom House rating |
Partly Free Political Rights: 3 Civil Liberties: 3 (2019) (1 represents the most free, 7 the least free rating) |
| Total telephone subscribers as % of population |
Fixed: 12% Mobile: 84.1% (2018) (fixed-telephone subscribers and mobile-cellular subscribers) |
| Internet users as % of total population | 74.82 % (2018) |
Language & Religon
| Languages | Spanish (official) |
|---|---|
| Literacy |
Total population: 93.8% Male: 93.8% Female: 93.8% Definition: age 15 and over can read and write (2016 est.) |
| Religions | Roman Catholic 47.8%, Protestant 21.3%, other 2.2%, none 28%, don’t know/no response .7%(2017 est.) |
World Rankings
| Population | 10.47 million |
|---|---|
| Mercer Cost of living index | Santo Domingo: 169th (2019) |
| C02 Emissions per capita |
2.12 metric tons per capita (2014) |
Global Finance Rankings & Awards: The Dominican Republic
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
Data Sources:
IMF World Economic Outlook
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