Economy Overview

http://dominican republic classifieds
The Dominican Republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy’s largest employer, due to growth in telecommunications, tourism, and free trade zones. The mining sector has also played a greater role in the export market since late 2012 with the commencement of the extraction phase of the Pueblo Viejo Gold and Silver mine. The economy is highly dependent upon the US, the destination for approximately half of exports. Remittances from the US amount to about 7% of GDP, equivalent to about a third of exports and two-thirds of tourism receipts. The country suffers from marked income inequality; the poorest half of the population receives less than one-fifth of GDP, while the richest 10% enjoys nearly 40% of GDP. High unemployment and underemployment remains an important long-term challenge. The Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) came into force in March 2007, boosting investment and exports and reducing losses to the Asian garment industry. The Dominican Republic’s economy rebounded from the global recession in 2010-14, and the fiscal situation is improving. A tax reform package passed in November 2012 and a reduction in government spending helped to narrow the central government budget deficit from 6.6% of GDP in 2012 to 2.7% in 2014. A successful government bond placement in 2013 and 2014 helped finance the deficit. A liability management operation in January 2015, in which the government paid down over $4 billion of the country’s Petrocaribe debt, at a discount of 52% with proceeds from the sale of $2.5 billion in global bonds, reduced the country’s debt load by approximately by 3.3% of GDP.
$138 billion (2014 est.)
$128.6 billion (2013 est.)
$122.7 billion (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 74
$64.08 billion (2014 est.)
7.3% (2014 est.)
4.8% (2013 est.)
2.6% (2012 est.)
country comparison to the world: 49
$13,000 (2014 est.)
$12,100 (2013 est.)
$11,600 (2012 est.)
note: data are in 2014 US dollars
country comparison to the world: 114
household consumption: 72%
government consumption: 10.2%
investment in fixed capital: 21.4%
investment in inventories: 0.8%
exports of goods and services: 26.1%
imports of goods and services: -30.6%
(2014 est.)
agriculture: 6.3%
industry: 32.1%
services: 61.6% (2014 est.)
cocoa, tobacco, sugarcane, coffee, cotton, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs
tourism, sugar processing, gold mining, textiles, cement, tobacco
6% (2014 est.)
country comparison to the world: 40
4.996 million (2014 est.)
country comparison to the world: 81
agriculture: 14.4%
industry: 20.8%
services: 64.7% (2014 est.)
6.4% (2014 est.)
15% (2013 est.)
country comparison to the world: 142
41.1% (2013 est.)
lowest 10%: 1.9%
highest 10%: 35.8% (2012 est.)
45.7 (2012 est.)
52 (2000 est.)
country comparison to the world: 35
revenues: $10.11 billion
expenditures: $11.77 billion (2014 est.)
15.8% of GDP (2014 est.)
country comparison to the world: 186
-2.6% of GDP (2014 est.)
country comparison to the world: 101
48.2% of GDP (2014 est.)
45.6% of GDP (2013 est.)
country comparison to the world: 73
calendar year
3% (2014 est.)
4.8% (2013 est.)
country comparison to the world: 131
13.7% (31 December 2014 est.)
13.59% (31 December 2013 est.)
country comparison to the world: 52
$5.621 billion (31 December 2014 est.)
$5.203 billion (31 December 2013 est.)
country comparison to the world: 94
$17.42 billion (31 December 2014 est.)
$15.97 billion (31 December 2013 est.)
country comparison to the world: 89
$26.87 billion (31 December 2014 est.)
$24.87 billion (31 December 2013 est.)
country comparison to the world: 78
$NA
-$2.002 billion (2014 est.)
-$2.467 billion (2013 est.)
country comparison to the world: 145
$10.11 billion (2014 est.)
$9.504 billion (2013 est.)
country comparison to the world: 96
gold, silver, cocoa, sugar, coffee, tobacco, meats, consumer goods
US 40.1%, Haiti 15.3%, Canada 14.5% (2014)
$16.97 billion (2014 est.)
$16.81 billion (2013 est.)
country comparison to the world: 83
petroleum, foodstuffs, cotton and fabrics, chemicals and pharmaceuticals
US 45.8%, China 7.3%, Venezuela 6.3%, Mexico 5.1%, Trinidad and Tobago 4.2% (2014)
$4.503 billion (31 December 2014 est.)
$4.703 billion (31 December 2013 est.)
country comparison to the world: 100
$19.72 billion (31 December 2014 est.)
$18.78 billion (31 December 2013 est.)
country comparison to the world: 84
$28.52 billion (31 December 2014 est.)
$26.42 billion (31 December 2013 est.)
country comparison to the world: 68
$72.8 million (31 December 2014 est.)
$72.8 million (31 December 2013 est.)
country comparison to the world: 93
Dominican pesos (DOP) per US dollar –
43.5 (2014 est.)
41.808 (2013 est.)
39.34 (2012 est.)
38.232 (2011 est.)
37.307 (2010 est.)
Skip to toolbar