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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: 2016
Code USD
(26030000007) Copper ores and concentrates 30,258,234  
(72044990905) Other waste and scrap, of iron or steel 11,527,459  
(90189080907) Other articles of heading No. 9018 5,654,659  
(39269016909) Other laboratory, hygienic and pharmaceutical articles, of plastics 2,465,341  
(76020000106) Aluminium waste or scrap, free of any coated wire and cable 1,256,334  
(90181990002) Other electro-diagnostic apparatus 909,453  
(30069100008) Appliances identifiable for ostomy use 908,272  
(64039990148) Casual shoes, with outer soles of rubber, plastics or composition leather and uppers of leather 831,135  
(24021000008) Cigars, cheroots and cigarillos, containing tobacco 679,231  
(72042100005) Waste and scrap of stainless steel 610,138  

Top 10 export to Dominican Republic

Year: 2016
Code USD
(39076000103) Poly(ethylene terephthalate), bottle grade-intrinsic viscosity 0.7 - 0.92, in primary forms 12,521,357  
(84145100002) Table, floor, wall, window, ceiling or roof fans, with a self-contained electric motor of an output not exceeding 125 w 4,997,580  
(87141090000) Other parts and accessories of motorcycles 4,597,660  
(90192090008) Other therapeutic respiration apparatus 3,911,266  
(39079100008) Other polyesters, unsaturated, in primary forms 3,183,777  
(87112090001) Other motorcycles, cycles, equipped with reciprocating internal combustion piston engine of a cylinder capacity exceeding 50 cc but not exceeding 250 cc 2,033,966  
(87089990002) Parts and accessories for other motor vehicles 1,720,719  
(85365090007) Other switches, for a voltage not exceeding 1,000 v 1,702,732  
(41044990001) Other bovine (including buffalo) or equine animals skin leather, in the dry state (crust), without hair on, whether or not split 1,569,688  
(54075200006) Other dyed woven fabrics, containing 85% or more by weight of textured polyester filaments 1,497,031  


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