Includes The Dominican Republic real Gross Domestic Product growth rate, with latest forecasts and historical data, GDP per capita, and GDP composition by sector.
Browse additional economic indicators and data sets, selected by Global Finance editors, to learn more about The Dominican Republic economic outlook, debt to GDP ratio, international trade performance and population trends. Rankings of country best banks and safest banks are also available.
Free Trade Begets Fast Growth
Over the past several decades, the Dominican Republic has been one of the fastest-growing economies in Latin America. As a stable democracy and a popular tourist destination, it boasts a strong infrastructure network and benefits from the CAFTA-DR free trade agreement with the US and an economic partnership with the EU. Thanks to generous tax exemptions and other incentives, this Caribbean country has become a significant recipient of foreign investment, particularly in the sectors of tourism, telecommunications, real estate, mining, and financing. Challenges include a lack of transparency and poor implementation of existing laws, along with vulnerability to extreme climate events.
GDP & Economic Information
Key Facts
| Total Area | 48,670 sq km |
|---|---|
| Type of Government | Presidential Republic |
| Capital City | Santo Domingo |
| Total Population | 10.47 million |
| Median Age | 27.3 years |
| Total GDP | USD 80.9 billion |
| Adult Per Capita Income (PPP) | USD 10,111 |
Click here to see our picks for the Best Banks in The Caribbean.
Central Bank Governor
Héctor Valdez Albizu
Under the leadership of Governor Héctor Valdez Albizu, the Central Bank of the Dominican Republic has consolidated its reputation for independence. It was one of the first in the region to fine-tune its monetary policy … read more in our 2023 Central Banker Report Cards
The Dominican Republic
Economics, Policy & Regulation
Executive Insights: Dominican Republic Central Bank Governor Hector Valdez Albizu
Trade & Finance
International Trade
| Total Exports | USD 12,646 million |
|---|---|
| Major Exports |
Refined petroleum Cars Natural gas Jewelry Vaccines and cultures |
| Major Trade Partners – Export |
United States Switzerland Haiti India Netherlands |
| Total Imports | USD 28,824 million |
| Major Imports |
Gold Medical instruments Cigars Low-voltage protection equipment Iron alloys Clothing |
| Major Trade Partners – Imports |
United States China Mexico Brazil Spain |
Inbound and Outbound Investment
Dominican Republic's Leading Companies
| Banking | BanReservas |
|---|---|
| Consumer Goods and Private Equity | Grupo León Jimenes |
| Beverage | Cervecería Nacional Dominicana |
| Travel | Arajet Transports |
| Telecommunications | Claro Dominicana |
| Media | Grupo Corripio |
A Regional Leader In Low Debt
Compared to regional neighbors, the Dominican Republic has a low debt-to-GDP ratio–lower than the average, but also lower than regional powerhouse economies like Brazil.
Banco Popular Dominicano CEO Christopher Paniagua
Creating an inclusive and sustainable future
Global Finance Rankings & Awards: The Dominican Republic
Global Finance Magazine holds several conferences and awards ceremonies throughout the year to recognize the winning financial institutions and companies in a host of categories including World’s Best Trade Finance Banks, World's Biggest Banks, World's Safest Banks, World's Best Developed & Emerging Markets Banks, World's Best Internet Banks, and World’s Best Investment Banks.
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