Dominican Republic2019 Economic Complexity: -0.051, Rank 79 of 157
2019 Product Exports | Imports: $10.1B | $17.8B, 89 of 225 | 82 of 225
2019 Per Capita Product Exports | Imports: $938 | $1.66k, 125 of 219 | 127 of 219
2018 Service Exports | Imports : $9.23B | $3.22B, 31 of 88 | 50 of 88
Overview: In 2019 Dominican Republic was the number 64 economy in the world in terms of GDP (current US$), the number 89 in total exports, the number 82 in total imports, the number 80 economy in terms of GDP per capita (current US$) and the number 79 most complex economy according to the Economic Complexity Index (ECI).
Exports: The top exports of Dominican Republic are Gold ($1.61B), Medical Instruments ($1.4B), Rolled Tobacco ($833M), Low-voltage Protection Equipment ($816M), and Bananas ($387M), exporting mostly to United States ($5.42B), Switzerland ($771M), Canada ($490M), India ($458M), and China ($453M).
Imports: The top imports of Dominican Republic are Refined Petroleum ($1.81B), Cars ($741M), Jewellery ($528M), Petroleum Gas ($514M), and Broadcasting Equipment ($415M), importing mostly from United States ($8.84B), China ($2.39B), Brazil ($680M), Spain ($665M), and Mexico ($426M).
Location: Dominican Republic borders Haiti by land and Colombia, Venezuela, Aruba, Curaçao, and Turks and Caicos Islands by sea.
Top Export (2019): Gold, $1.61B
Top Destination (2019): United States, $5.42B
In 2019, Dominican Republic exported a total of $10.1B, making it the number 89 exporter in the world. During the last five reported years the exports of Dominican Republic have changed by -$760M from $10.8B in 2014 to $10.1B in 2019.
The most recent exports are led by Gold ($1.61B), Medical Instruments ($1.4B), Rolled Tobacco ($833M), Low-voltage Protection Equipment ($816M), and Bananas ($387M). The most common destination for the exports of Dominican Republic are United States ($5.42B), Switzerland ($771M), Canada ($490M), India ($458M), and China ($453M).
Top Import (2019): Refined Petroleum, $1.81B
Top Origin (2019): United States, $8.84B
In 2019 Dominican Republic imported $17.8B, making it the number 82 trade destination in the world. During the last five reported years the imports of Dominican Republic changed by $509M from $17.3B in 2014 to $17.8B in 2019.
The most recent imports of Dominican Republic are led by Refined Petroleum ($1.81B), Cars ($741M), Jewellery ($528M), Petroleum Gas ($514M), and Broadcasting Equipment ($415M). The most common import partners for Dominican Republic are United States ($8.84B), China ($2.39B), Brazil ($680M), Spain ($665M), and Mexico ($426M).
Fastest Growing Export Markets (2018 - 2019)
Fastest Growing Import Markets (2018 - 2019)
Dominican Republic Exports Services (2018): $9.23B
Dominican Republic Imports Services (2018): $3.22B
In 2018, Dominican Republic exported $9.23B worth of services. The top services exported by Dominican Republic in 2018 were Travel ($7.56B), Air transport ($506M), Other business services ($432M), Embassies and consulates ($297M), and Sea transport ($143M).
The top services imported by Dominican Republic in 2018 were Sea transport ($980M), Air transport ($595M), Travel ($549M), Other business services ($372M), and Insurance services ($236M).
The top product import tariffs by their MFN Ad Valorem value for Dominican Republic are Bellies (streaky) of swine, salted, dried or smoked (40%) and Bovine carcasses and half carcasses, fresh or chilled (40%).
Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.
*The tariffs applied to imports for Dominican Republic are:
During the last 20 years Dominican Republic's economy has become relatively más complex, moving from the 106th to the 79th position in the ECI rank.
These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.
Dominican Republic has a high level of specialization in Rolled Tobacco (55.8), Bananas (48.9), Cocoa Beans (40.6), Molasses (28.5), and Textile Scraps (23.8). Specialization is measured using RCA, an index that takes the ratio between Dominican Republic observed and expected exports in each product.
The highest complexity exports of Dominican Republic according to the product complexity index (PCI) are Orthopaedic appliances (1.24), Self-adhesive plates, sheets, film etc of plastic (1.05), Parts, accessories nes for opto-electric instruments (0.96), Parts for electrical switches, protectors, connectors (0.95), and Electric sound or visual signal equipment nes (0.93). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Dominican Republic according to the relatedness index, are Knit Men's Shirts (0.19), Knit Women's Shirts (0.19), Knit Men's Suits (0.19), Perfume Plants (0.18), and Packing Bags (0.18). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Dominican Republic is not specialized in.
The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.
The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.
Have questions, comments, or concerns?
Send us an e-mail: [email protected]
v4.0.7 bee