GFmag Online Readers Survey 2012
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 bankCentral Bank of the Dominican Republic
International ReservesUS$ 3.501 billion (Source: World Bank; Data updated: November 2010)
Gross Domestic Product - GDPUS$ 54.912 billion (2010 estimate)
GDP (Purchasing Power Parity)93.055 billion of International dollars (2010 estimate)
Real GDP growth
20002001200220032004200520062007
5.7%1.8%5.8%-0.3%1.3%9.3%10.7%8.5%
2008200920102011*
5.3%3.5%7.8%5.5%

*Estimate

GDP per capita - current pricesUS$ 5,463 (2004 estimate)
GDP per capita - PPP$9,257 International Dollars (2004 estimate)
GDP (PPP) - share of world total
19801990200020102015**
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 November 2010)

Inflation
2008200920102011*
10.6%(2008)1.4%6.3%6.1%

*Estimate

Unemployment rate
2008200920102011*
14.2%14.9%14%(2009)13.5%

*Estimate

Household saving ratesN/A

(Data released on November 2010)

Public debt (General government gross debt as a % of GDP)
20072008200920102011*
20.3%25.3%28.5%29%25.5%

*Estimate

Public deficit (General government net lending/borrowing as a % of GDP)
2007200820092010*2011**
0.3%-3.5%-3.5%-2.4%-1.6%

*Estimate    **Forecast

Government bond ratings

Standard & Poor's: B/Positive/B

Moody's rating: B1

Moody's outlook: STA

(Foreign Currency Government Bond Ratings; Data last updated Nov 2010)

Market value of publicly traded shares
200720082009
N/AN/AN/A
Largest companies in The Dominican RepublicN/A
DATA ON TRADE AND COMPETITIVENESS
Current account balanceUS$ -4.6 billion (2010 estimate)(After 2008)
Current account balance by percentage of GDP-8.3% of GDP (2010 estimate)(2009)
Exports as percent of GDP

(Exports of goods and services)

18.8% (2009)

(Data released on December 2010)

Shares in world total merchandising export0.04%(2007)

(Data were released in Nov 2011 and refer to 2010)

Shares in world total commercial services export0.14%(2007)

(Data were released in Nov 2011 and refer to 2010)

Total exportsUS$6.161 billion f.o.b. (2010 estimate)
Export commoditiesferronickel, sugar, gold, silver, coffee, cocoa, tobacco
Total importsUS$16.02 billion f.o.b. (2008 estimate)
Import commoditiesfoodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals
Exports - major partnersUS 66.4%, Belgium 3.7%, Finland 3.2% (2007)
Imports - major partnersUS 46%, Venezuela 8.1%, Mexico 5.9%, Colombia 4.7% (2007)
FDI inflows
200820092010
US$2,870 millionUS$2,165 million(2009)US$1,626 million(2009)
FDI outflows
200820092010
US$-19 millionUS$-32 millionUS$-23 million
Value of cross-border M&A, by country of purchaser
2008200920102011
US$-25 millionN/A(2009)US$31 million(2009)N/A
Cross-border M&A deals worth over $3 billion completed in 2008

(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 2010

(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 – 183. A high ranking means the regulatory environment is more conducive to the starting and operation of a local firm.)

Overall ranking: 91 out of 183 countries(2009) (2010)

Subcategories:

Starting a business: 137 out of 183 countries(2009)

Registering property: 114 out of 183 countries

Paying Taxes: 76 out of 183 countries

Getting credit: 72 out of 183 countries

Protecting investors: 59 out of 183 countries

Trading across border: 40 out of 183 countries

Enforcing Contracts: 84 out of 183 countries

(2010)

Global competitiveness ranking
(ranking by country on a basis of 142, the first is the best)		110

(2011/2012)

Index of Economic Freedom

WSJ and Heritage Foundation

Ranking: 90 Score: 60 (Moderately Free) (2009)

(100=totally free 0=totally repressed )

COUNTRY AND POPULATION OVERVIEW
Time zoneUTC-4
Total area 48,310 km2 (2006)
CapitalSanto Domingo (2009)
CurrencyDominican pesos (DOP) (2009)
Government typedemocratic republic (2009)
LanguagesSpanish
ReligionsRoman Catholic 95%, other 5%
Total population
1980199020002010*2015**
5.68 million7.15 million8.26 million9.87 million10.79 million

*Estimate    **Forecast

Urban population as % of total population
1960198020002009
30.2%51.3%62.4%69.8%
Population median age24.0 years (2006)
Population growth rate1.4% (2009)
Life expectancy72 years (2007)
Adult literacy89% (2000/2007)
% of population living on less than $2 a day13.63% (2011)
Inequality of wealth distribution (Gini index)

48.4 (2007)

(0=perfect equality, 100=absolute inequality)

Freedom House rating

Political Rights:2
Civil Liberties:2 (2010)

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

Total telephone subscribers as % of population

99.75% (2010)

(sum of fixed telephone lines and mobile cellular subscribers)

Internet users as % of total population39.53% (Data were released in 2011 and refer to 2010)
Cost of living 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)

2.172 (2008)

GLOBAL FINANCE RANKINGS AND AWARDS

WORLD'S BEST INTERNET BANKS

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