The Dominican Republic


The Dominican Republic Country Report: GDP data and GDP forecasts; economic, financial and trade information; the best banks in The Dominican Republic; country and population overview

DATA ON GDP AND ECONOMIC INFORMATION
Central bank Central Bank of the Dominican Republic
International Reserves US$ 4.117 billion (Source: IMF; Data updated: 2012)
Gross Domestic Product - GDP US$ 59.429 billion (2010 estimate)
GDP (Purchasing Power Parity) 98.835 billion of International dollars (2010 estimate)
Real GDP growth
2001 2002 2003 2004 2005 2006 2007 2008
1.8% 5.8% -0.3% 1.3% 9.3% 10.7% 8.5% 5.3%
2009 2010 2011 2012*
3.5% 7.8% 4.5% 4.5%

*Estimate

GDP per capita - current prices US$ 5,805 (2004 estimate)
GDP per capita - PPP $9,655 International Dollars (2004 estimate)
GDP (PPP) - share of world total
1980 1990 2000 2010 2015**
0.09% 0.09% 0.11% 0.12% 0.12%

**Forecast

GDP - composition by sector
  • agriculture: 7.3% 
  • industry: 27.9% 
  • services: 64.8% (2011 estimate)
  • (Data released on February 2012)

Gross domestic expenditure on R&D (% of GDP) N/A

(Data released on March 2012)

Inflation
2009 2010 2011 2012*
1.4%(2008) 6.3% 8.5% 5.5%

*Estimate

Unemployment rate
2009 2010 2011 2012*
14.9% 14% 14.6%(2009) 13%

*Estimate

Household saving rates N/A

(Data released on December 2011)

Public debt (General government gross debt as a % of GDP)
2008 2009 2010 2011 2012*
24.7% 28.4% 28.7% 29.3% 29.9%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2008 2009 2010 2011* 2012**
-3% -3.5% -2.5% -2.5% -2.3%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B+

Moody's rating: N/A

Moody's outlook: N/A

(Foreign Currency Government Bond Ratings; Data last updated Dec 2011 and Nov 2012)

Market value of publicly traded shares
2009 2010 2011
N/A N/A N/A
Largest companies in The Dominican Republic N/A
DATA ON TRADE AND COMPETITIVENESS
Current account balance US$ -4.1 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP -6.9% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

22.3% (2010)

(Data released on April 2012)

Shares in world total merchandising export 0.05%(2007)

(Data were released in 2012 and refer to 2011)

Shares in world total commercial services export 0.12% (2011)(2007)

(Data were released in 2012)

Total exports US$9.467 billion (2012 estimate) 
Export commodities ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods
Total imports US$18.2 billion (2012 estimate) 
Import commodities foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
Exports - major partners US 49.3%, Haiti 16.9% (2011)
Imports - major partners US 43.4%, Venezuela 7.1%, Mexico 6%, China 5.7% (2011)
FDI inflows
2009 2010 2011
US$2,165 million US$1,896 million(2009) US$2,371 million(2009)
FDI outflows
2009 2010 2011
US$-32 million US$-23 million US$-25 million
Value of cross-border M&A, by country of purchaser
2008 2009 2010 2011
US$-25 million N/A(2009) US$31 million(2009) N/A
Cross-border M&A deals worth over $3 billion completed in 2010

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A

(for a monthly update on M&A click here )

Cross-border M&A deals worth over $3 billion completed in 2011

(Acquiring company, Acquired company, Country of the acquired company, Value of the deal)

N/A(2008 estimate)

(for a monthly update on M&A click here )

Best countries for doing business

World Bank/IFC Doing Business Project

(Economies are ranked on their ease of doing business, from 1 - 185. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 116 out of 185 countries(2009) (2013)

Subcategories:

Starting a business: 137 out of 185 countries(2009)

Enforcing Contracts: 84 out of 185 countries

Registering Property: 110 out of 185 countries

Getting credit: 83 out of 185 countries

Protecting investors: 100 out of 185 countries

Trading across border: 46 out of 185 countries

Paying Taxes: 98 out of 185 countries

Dealing with Construction Permits: 108 out of 185 countries

Getting Electricity: 122 out of 185 countries

Resolving Insolvency: 156 out of 185 countries

(2013)

Global competitiveness ranking
(ranking by country on a basis of 144, the first is the best)
105

(2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 89 Score: 60.2 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zone UTC-4
Total area 48,310 km2 (2006)
Capital Santo Domingo (2009)
Currency Dominican pesos (DOP) (2009)
Government type democratic republic (2009)
Languages Spanish
Religions Roman Catholic 95%, other 5%
Total population
1980 1990 2000 2012* 2017**
5.68 million 7.15 million 8.26 million 10.24 million 11.2 million

*Estimate    **Forecast

Urban population as % of total population
1960 1980 2000 2011
30.2% 51.3% 62.4% 69.6%
Population median age 25 years (2010)
Population growth rate 1.3% (2011)
Life expectancy 73 years (2010)
Adult literacy N/A
% of population living on less than $2 a day 13.63% (2011)
Inequality of wealth distribution (Gini index)

47.2 (2010)

(Data were released in 2011, 0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2011)

(1 represents the most free, 7 the least free)

Total telephone subscribers as % of population

97.6% (2011)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population 35.5% (Data were released in 2012 and refer to 2011)
Cost of living - Mercer index

(ranking by city on a basis of 214; the 1st is the most expensive and the 214th is the least expensive)

Santo Domingo: 162nd (2011)

CO2 emissions
(Metric tons of CO2 per capita)

2.0756 (Data were released in 2012 and refer to 2009)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

2012:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (2012)
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2012)
2011:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (Pedro Delgado, 2011)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2011)
2010:
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (National, 2010)
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotiabank (Africa, 2010)
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2010)
2009:
  • COUNTRY WINNERS / Best Corporate / Institutional Internet Banks Citi (National, 2009)
  • COUNTRY WINNERS / Best Consumer Internet Banks Scotia Bank (National, 2009)

WORLD'S BEST EMERGING MARKET BANKS

2012:
  • COUNTRY WINNERS Banco Popular Dominicano (National, 2012)
2011:
  • COUNTRY WINNERS Banco Popular Dominicano (National, 2011)
2010:
  • COUNTRY WINNERS Banco Popular Dominicano (National, 2010)
2009:
  • COUNTRY WINNERS Banco Popular Dominicano (National, 2009)
ARTICLES AND COUNTRIES REPORTS FROM GLOBAL FINANCE ARCHIVE