Economy of Dominican Republic
Population: 10.63 M (2018)
GDP per Capita: 8,051 USD (2018)
85,560 M.

GDP USD

(2018)

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20,150 M.

EXPORTS USD

(2018)

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24,390 M.

IMPORTS USD

(2018)

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50.53 %

PUBLIC DEBT

(2019)

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Data is provided by World Bank, FMI and Central Banks.

GDP and Economic Growth

Indicator Value
Economic Growth 6.98 % (2018)
GDP of 2010 USD USD 81.80 B. (2018)
GDP Current USD USD 85.56 B. (2018)
GDP per Capita Current USD USD 8,051 (2018)
GDP per capita, PPP USD 15,748 (2018)
GDP per Capita, 2010 USD USD 7,698 (2018)

Government spending and balances

Indicator Value
Government Spending % GDP 10.86 % (2018)
Government Spending USD 9.29 B. (2018)
Government Debt % GDP 50.53 % (2019)

International Trade and Investment

Indicator Value
Terms of Trade Base Year 2000 103.75 (2018)
Trade Openness 52.06 % (2018)
Exports of Goods and Services % GDP 23.55 % (2018)
Exports Goods & Services USD 20.15 B. (2018)
Exports Annual Growth 6.05 % (2018)
Imports as % GDP 28.50 % (2018)
Total Imports USD 24.39 B. (2018)
Foreign Direct Investment % GDP 3.21 % (2018)
Foreign Direct Investment USD 2.74 B. (2018)
Current Account Balance % GDP USD -1.36 % (2018)
Current Account Balance USD -1.16 B. (2018)
Trade Balance % GDP -4.95 % (2018)
Trade Balance USD -3.42 B. (2018)
Foreign Exchange Reserves incl Gold USD 7.72 B. (2018)
Remittances % GDP 7.96 % (2018)
Remittances USD 6,494 M. (2018)
Balance of Payments USD 575 M. (2011)

Labor Market

Indicator Value
Labor Force 4.98 M. (2019)
Unemployment Rate 5.83 % (2019)
Unemployment Rate Females 8.28 % (2019)
Unemployment Rate Males 4.20 % (2019)
Youth Unemployment (ages 15-24) 13.25 % (2019)
Labor Force Participation Rate 64.10 % (2019)
Labor Force (Percent Female) 40.32 % (2019)
Female Labor Force Participation Rate 51.00 % (2019)
Male Labor Force Participation Rate 77.57 % (2019)
Dependent People 53.99 % (2018)

Agriculture Sector

Indicator Value
Forest Area 41.70 % (2016)
Forest Area km² 20,162 km² (2016)
Agricultural Land 48.69 % (2016)
Agricultural Land km² 23,520 km² (2016)
Employment 9.38 % (2019)
Value added % GDP 5.15 % (2018)
Agriculture Value added USD 4.40 B. (2018)
Crop Production Index 171.00 (2016)
Precipitation 1,410 mm (2014)
Arable Land 17 % (2016)
Cereal Yield 3,154 kg/hectare (2017)
Food production index 148 (2016)
Rural Population 19 % (2018)
Fertilizer use of Arable Land 88 kg/hectare (2016)
Livestock Production Index 110 (2016)
Economy of Dominican Republic

According to the World Bank and its latest published data, the economy of the Dominican Republic presents a growth rate of 6.98 % (2018) to the previous year.

With a population that reaches 10.63 M (2018) and a gross domestic product of USD 85.56 B. (2018), it translates a Gross Domestic Product per Capita of USD 8,051 placing its inhabitants on the threshold of an Upper middle income country (according to the World Bank's updated classification).

Dominican Republic also has a workforce of 4.98 M. (2019) with an unemployment rate of 5.83 % (2019), where women represent 8.28 % (2019) and men 4.20 % (2019), the unemployment rate for young people between 15-24 years old stood at 13.25 % (2019). The total number of dependent people stands at 53.99 % (2018).

The central government spent 10.86 % (2018) of its gross domestic product that year, which in absolute terms is USD 9.29 B. (2018). Its consolidated public debt reached 50.53 of its GDP, exceeding the 35% risk limit used by the European Union.

Regarding its international trade, Dominican Republic exported USD 20.15 B. (2018), which represents 23.55 % (2018) of its gross domestic product, in that same sense its imports reached USD 24.39 B. (2018) with a direct foreign investment of USD 2.74 B. (2018).

Dominican Republic has a forest area of 20,162 km² (2016), which represents 41.70 % (2016) of its total area, an average rainfall of 1,410 mm (2014) per year and a population of 19 % (2018) living in rural areas. With a total area of 23,520 km² (2016) available for agriculture and 9.38 % (2019) of its employments, the agricultural sector contributes to the economy of the Dominican Republic about USD 4.40 B. (2018) (5.15 % (2018) of its GDP).