Download Dominican Republic

Dominican Republic
Introduction
Key Economic Facts
The Dominican Republic is a nation on the island of
Hispaniola, part of the Great Antilles archipelago between
the Caribbean region and North Atlantic Ocean. It is
bordered by Haiti on the east and consists
mostly of rugged mountains with fertile
valleys. The government system is a
democratic republic; the chief of state and
head of government is the president. The
Dominican Republic has a mixed economic system which
includes a variety of private freedom, combined with
centralized economic planning and government regulation.
Income Level (by per capita
GNI):
Level of Development:
GDP, PPP (current international
$):
GDP growth (annual %):
GDP per capita, PPP (current
international $):
External debt stocks, total
(DOD, current US$):
Manufacturing, value added (%
of GDP):
Current account balance (BoP,
current US$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force) (modeled ILO
estimate):
Imports of goods and services
(current US$):
Exports of goods and services
(current US$):
Location:
Capital City:
Chief of State:
Head of Govt.:
Currency:
Major Languages:
Primary Religions:
Calling Code:
Voltage:
Caribbean
Santo Domingo (-4 GMT)
President Danilo Medina
President Danilo Medina
Dominican Peso (DOP)
Spanish (official)
Roman Catholic 95%, other 5%
1-809
110
Key Websites
Main Government Page: sep.gob.do
Commerce Ministry: seic.gov.do
Investment Promotion cei-rd.gob.do
Agency:
Risk Assessment (Provided by Coface)
Upper Middle Income
Developing
$149.89 billion (2015)
7.04% (2015)
$14,237.06 (2015)
$26,631,939,000.00 (2015)
15.25% (2015)
-$1.34 billion (2015)
1.61% (2016)
4,893,978 (2016)
14.36% (2016)
$19.94 billion (2015)
$16.83 billion (2015)
GDP Composition %
Agriculture
Industry
Manufacturing
27
15
Services
67
6
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
U.S. Embassy
Rankings
Index
Corruption Perceptions Index
Global Competitiveness Index
Global Enabling Trade Index
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Open Budget Index
Country rating: B - Political and economic uncertainties
and an occasionally difficult business environment can
affect corporate payment behavior. Corporate default
probability is appreciable.
Business Climate rating: C - The business environment is
difficult. Corporate financial information is often unavailable
and when available often unreliable. Debt collection is
unpredictable. The institutional framework has many
troublesome weaknesses. Intercompany transactions run
major risks in the difficult environments rated C.
Strengths
• Top tourist destination in the Caribbean
• Remittances from diaspora
• Free-trade agreement with the United States
(CAFTA-DR)
• Free-trade areas (51% of exports)
• Political stability
Weaknesses
• Dependence on U.S. economic cycle
• Dependence on price of gold
• Inadequate power supply
• Education and healthcare shortcomings
• High levels of poverty and inequality
• Drug-related crime
• High levels of corruption
Rank
120 / 176
92 / 138
78 / 136
76 / 180
91 / 160
58 / 139
54 / 187
98 / 139
39 / 102
Embassy of the United States of America
Av. Republica de Colombia # 57
Dominican Republic
Tel: (809) 567-7775
http://santodomingo.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV