Strong Foundations: Q&A With Dominican Central Bank Governor Héctor Valdez Albizu
Héctor Valdez Albizu, governor of the Central Bank of the Dominican Republic, on economic prospects and efforts to attract investors.
The Dominican Republic
Country Report 2017 - 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.
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International Reserves
USD 7.6 billion (2018)
International Monetary Fund (IMF), data retrieved October 2019
Gross Domestic Product - GDP
USD 80.9 billion (2018, estimate)
GDP (Purchasing Power Parity)
Intl$ 189.2 billion (2018, estimate)
Real GDP growth
| 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 |
| 7.4% | 3.2% | 0.9% | 8.3% | 3.1% | 2.7% | 4.9% |
| 2014 | 2015 | 2016 | 2017* | 2018* | ||
| 7.6% | 7% | 6.6% | 4.6% | 7% |
*Estimate
GDP (PPP) - share of world total
| 1980 | 1990 | 2000 | 2010 | 2019* |
| 0.11% | 0.10% | 0.11% | 0.12% | 0.14% |
*Estimate
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GDP - composition by sector
- agriculture: 5.5%
- industry: 27.9%
- services: 58.9%
(2018 estimate)
Inflation
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 0.8% | 1.6% | 3.3% | 3.6% | 1.8% |
*Estimate
Unemployment rate
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 7.3% | 7.1% | 5.5% | 5.7% | 5.5% |
*Estimate
Public debt (General government gross debt as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 44.7% | 46.6% | 48.9% | 50.5% | 52.7% |
*Estimate
Public deficit (General government net lending/borrowing as a % of GDP)
| 2015 | 2016 | 2017 | 2018* | 2019* |
| 0% | -3.1% | -3.3% | -2.3% | -3.1% |
*Estimate
Government bond ratings
Standard & Poor's: BB-
Moody': Ba3
Standard & Poor's / Moody's
Source
Market value of publicly traded shares
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Source
Current account balance by percentage of GDP
-1.4 % (2018 estimate)
Exports as percent of GDP (Exports of goods and services)
25.1% (2018)
Shares in world total merchandising export
0.06% (2018)
Shares in world total commercial services export
0.16% (2018)
Export commodities
Gold, silver, cocoa, sugar, coffee, tobacco, meats, consumer goods
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Import commodities
Petroleum, foodstuffs, cotton and fabrics, chemicals and pharmaceuticals
Exports - major partners
US 50.3%, Haiti 9.1%, Canada 8.2%, India 5.6% (2017)
Imports - major partners
US 41.4%, China 13.9%, Mexico 4.5%, Brazil 4.3% (2017)
FDI inflows
| 2016 | 2017 | 2018 |
| USD 2,407 million | USD 3,571 million | USD 2,535 million |
FDI outflows
| 2016 | 2017 | 2018 |
| N/A | N/A | N/A |
Value of cross-border M&A, by country of purchaser
| 2015 | 2016 | 2017 | 2018 |
| USD 34 million | N/A |
USD 165 million |
N/A |
Cross-border M&A deals worth over $3 billion completed in 2014
N/A
Cross-border M&A deals worth over $3 billion completed in 2015
N/A
Best countries for doing business
Economies are ranked on their ease of doing business. A high ease of doing business ranking means the regulatory environment is more conducive to the starting and operation of a local firm.
Overall ranking:
115 out of 190 countries
Subcategories:
Starting a Business: 112 out of 190 countries
Dealing with Construction Permits: 80 out of 190 countries
Getting Electricity: 116 out of 190 countries
Registering Property: 74 out of 190 countries
Getting Credit: 119 out of 190 countries
Protecting Minority Investors: 143 out of 190 countries
Paying Taxes: 150 out of 190 countries
Trading across Borders: 66 out of 190 countries
Enforcing Contracts: 133 out of 190 countries
Resolving Insolvency: 124 out of 190 countries
Source
Global competitiveness ranking
78 out of 141 countries
(2019)
Index of Economic Freedom
Ranking: 89 / Score: 61 (Moderately free)
(100=totally free 0=totally repressed)
Source
Source
Government type
Presidential republic
Source
Total population
| 1990 | 2000 | 2010 | 2016* | 2021* |
| 7.118 million | 8.398 million | 9.479 million | 10.088 million | 10.646 million |
*Estimate
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Urban population as % of total population
| 1960 | 1980 | 2000 | 2015 |
| 30% | 51% | 62% | 79% |
Literacy
Total population: 91.8%
Male: 91.2%
Female: 92.3% (2015 est.)
(age 15 and over can read and write)
% of population living on less than $3.10 a day
2.4% (2013)
Inequality of wealth distribution (Gini index)
47.1 (2013)
(0=perfect equality, 100=absolute inequality)
Source
Freedom House rating
Political Rights: 3
Civil Liberties: 3 (2017)
(1 represents the most free, 7 the least free rating)
Source
Total telephone subscribers as % of population
Fixed 12.25% Mobile 82.59% (2015)
(fixed-telephone subscribers and mobile-cellular subscribers)