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Basic Information

Area 48,442 km2
Capital Santo Domingo
Official Language Spanish
GDP per capita US$ 7,112
GDP US$ 71,654 million
Imports US$ 17,483 million
Exports US$ 9,860.3 million
Currency Peso

Business Environment

According to the report of the Central Bank of Dominican Republic, the economy of Dominican Republic grew 7%, the largest growth rate in Latin America, in 2015 and also ranked one of the countries with the greatest economic growth in the world. The annual inflation rate was 2.34% which was lower than the original target of 4 ± 1%. The current account deficit was 2%, the lowest in the past 10 years. The foreign investment was 2.3 billion dollars which was 3% increase compared to 2014. Hector Valdez Albizu, the CEO of the Central Bank of Dominican Republic said there were about 5.6 million tourists traveled to Dominican Republic in 2015, which was an increase of 458,482 people compared to 2014, representing 8.9% growth. The tourism revenue was 6,153,100,000 dollars, corresponding to 9.2% growth. Remittances of expatriates were 4,882,700,000 dollars, equivalent to 6.8% growth rate. However, export declined 13%. The private loans are active in Dominican Republic. The total loans in 2015 were 87,905,000,000 pesos (about 1,953,440,000 dollars), corresponding to 12.5% growth. The growth of SME loans were the most substantial which increased 33.3% compared to 2014. According to the first draft of the Economic Report on Latin America and the Caribbean written by the United Nations Economic Commission for Latin America and the Caribbean (CEPAL), it is expected that in 2016, the economic growth of Dominican Republic and Panama will be 5.2% and 6.2% respectively, and the Caribbean will only have 0.2% growth while the global economic growth is 2.5%. CEPAL believes that the drive of the economic growth of Dominican Republic in 2016 will mainly be from mining, construction, tourism and expatriates remittance.

Top 10 import from Dominican Republic

Year: 2017
Code USD
(72044990905) Other waste and scrap, of iron or steel 24,272,475  
(26030000007) Copper ores and concentrates 23,858,993  
(90189080907) Other articles of heading No. 9018 6,095,219  
(76020000106) Aluminium waste or scrap, free of any coated wire and cable 3,902,654  
(72026000009) Ferro-nickel 2,903,505  
(39269016909) Other laboratory, hygienic and pharmaceutical articles, of plastics 1,851,121  
(30069100008) Appliances identifiable for ostomy use 1,732,745  
(90181990002) Other electro-diagnostic apparatus 1,463,440  
(72042100005) Waste and scrap of stainless steel 754,274  
(47071000006) Recovered (waste and scrap) unbleached kraft paper or paperboard or corrugated paper or paperboard 711,668  

Top 10 export to Dominican Republic

Year: 2017
Code USD
(39076100102) Poly (ethylene terephthalate), bottle grade-intrinsic viscosity 0.7 (having a viscosity number of 78 ml/g) - 0.92, in primary forms 14,907,880  
(84145100002) Table, floor, wall, window, ceiling or roof fans, with a self-contained electric motor of an output not exceeding 125 w 1,562,486  
(72142000004) Other bars and rods, of iron or non-alloy steel, containing indentations, ribs, grooves or other deformations produced during the rolling process or twisted after rolling 5,044,811  
(90192090008) Other therapeutic respiration apparatus 4,961,668  
(87141090000) Other parts and accessories of motorcycles 4,282,576  
(98990000006) MISCELLANEOUS 2,645,855  
(41071290001) Other whole leather further prepared after tanning or crusting, including parchment-dressed leather, of bovine (including buffalo) or equine animals, without hair on, grain splits, other than leather of heading 41.14 2,510,149  
(39031900001) Other polystyrene, in primary forms 2,193,121  
(60069090004) Other knitted or crocheted fabrics of other textile materials 2,088,409  
(39079100008) Other polyesters, unsaturated, in primary forms 2,084,135  


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