Dominican Republic flag

Dominican Republic

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.

Prosperity Driven By Booming Tourism And Rising Foreign Investment

Over the past few decades, the Dominican Republic has emerged as one of Latin America’s economic success stories, with growth outpacing many of its regional counterparts. A stable democracy and popular tourist destination, this Caribbean nation boasts a well-developed infrastructure network that facilitates trade and commerce. Additionally, this nation of nearly 11 million people benefits from the CAFTA-DR free trade agreement with the US and an economic partnership with the EU. In 2024 the country’s growth was second only to Guyana, and the World Bank estimates that this situation will continue this year as well.

Thanks to a series of investor-friendly policies, including generous tax exemptions and other financial incentives, the Dominican Republic has also become a significant recipient of foreign direct investment (FDI) beyond the traditional tourism sector, particularly in telecommunications, real estate, mining and finance. Last year FDI hit a record of 4.5 billion USD and 33.7% of the investments came from Europe. However, challenges remain, including a lack of transparency in governance and insufficient implementation of existing laws, as well as vulnerability to climate events.

Macroeconomy & Sovereign Data

Type of Government Presidential Republic, Representative Democracy
Capital Santo Domingo
Sovereign Ratings S&P: BB
Moody’s: Ba3
Fitch: BB–
Total Population 10.885 million
Median Age 36.28
Adult Per Capita Income (PPP) 16,420 USD
Total GDP (2024) 124.61 billion

Dominican Republic GDP & Economic Overview

Most Recent Content

Banking & Finance

Trade & Investment

Total Exports USD 21 billion (2024)
Leading Exports Medical Instruments
Gold
Tobacco
Power Equipment
Garments
Total Imports USD 30.1 billion (2024)
Leading Imports Refined Petroleum
Natural Gas
Cars
Plastic Products
Crude Petroleum
Sources: CIA Factbook, IMF

Dominican Republic Leading Companies

BanReservas Financial
BHD Bank Financial
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 42.34%
China 17.79%
Brazil 4.81%
Mexico 4.49%
Spain 3.87%

Major Trade Partners — Export

United States 51.78%
Switzerland 10.49%
Haiti 10.36%
India 3.35%
China 2.77%

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

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