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$):
Inflation, consumer prices
(annual %):
Labor force, total:
Unemployment, total (% of
total labor force):
Imports of goods and services
(current US$):
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
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
$138.01 billion (2014)
7.34% (2014)
$13,262.30 (2014)
$23,830,932,000.00 (2013)
15.58% (2014)
-$2.03 billion (2014)
3.00% (2014)
4,710,194 (2014)
15.00% (2014)
$19.62 billion (2014)
$16.51 billion (2014)
GDP Composition %
Agriculture
Industry
Manufacturing
27
16
Services
67
6
*Although Manufacturing is included in the Industry figures, it is also separately
reported because it plays a critical role in economy.
Rankings
Index
Corruption Perceptions Index
Global Competitiveness Report
Global Enabling Trade Report
Index of Economic Freedom
International Logistics Performance Index (LPI)
Inward FDI Potential Index
KOF Index of Globalization
Networked Readiness Index (NRI)
Open Budget Index
Rank
103 / 168
97 / 140
75 / 138
86 / 178
69 / 160
58 / 139
54 / 187
93 / 142
39 / 102
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: B - The business environment is
mediocre. The availability and the reliability of corporate
financial information vary widely. Debt collection can
sometimes be difficult. The institutional framework has a few
troublesome weaknesses. Intercompany transactions run
appreciable risks in the unstable, largely inefficient
environments rated B.
Strengths
• Top tourist destination in the Caribbean
• Transfers from diaspora
• Free-trade agreement with the United States
(CAFTA-DR)
• Free-trade areas (51% of exports)
• Political stability
Weaknesses
• Dependence on America economic cycle
• Dependence on gold prices
• Unreliable electricity supply
• Educational and health deficiencies
• High levels of poverty and inequality
• Criminality associated with drug trafficking
• High level of corruption
U.S. Embassy
Cesar Nicolas Penson esq. Leopoldo Navarro
Unit 5500, APO AA 34041-5500
Tel: 809 221-2171
http://santodomingo.usembassy.gov/
Country Memo Provided by: globalEDGE.msu.edu and EXPORT.GOV