Dominican Republic2020 Economic Complexity : -0.13, Rank 66 of 127
2020 Product Exports | Imports: $11B | $17.6B, 84 of 226 | 80 of 226
2020 Per Capita Product Exports | Imports: $1.01k | $1.63k, 115 of 219 | 119 of 219
2020 Service Exports | Imports : $3.61B | $2.96B, 46 of 65 | 48 of 65
Overview In 2020, Dominican Republic was the number 68 economy in the world in terms of GDP (current US$), the number 84 in total exports, the number 80 in total imports, the number 84 economy in terms of GDP per capita (current US$) and the number 66 most complex economy according to the Economic Complexity Index (ECI).
Exports The top exports of Dominican Republic are Gold ($1.77B), Medical Instruments ($1.3B), Rolled Tobacco ($838M), Low-voltage Protection Equipment ($811M), and Bananas ($348M), exporting mostly to United States ($5.35B), Switzerland ($1.22B), Haiti ($751M), Canada ($477M), and Netherlands ($420M).
Imports The top imports of Dominican Republic are Refined Petroleum ($966M), Petroleum Gas ($638M), Cars ($585M), Broadcasting Equipment ($530M), and Jewellery ($450M), importing mostly from United States ($7.47B), China ($3.09B), Mexico ($637M), Spain ($621M), and Brazil ($490M).
Location Dominican Republic borders Haiti by land and Colombia, Venezuela, Aruba, Curaçao, and Turks and Caicos Islands by sea.
The following section uses the most recent trade data from partners of Dominican Republic.
Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Data is presented based on data availability. Only countries using the Harmonic System (HS) are selected. Every source is shown using their own latest twelve months of data.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2020): Gold, $1.77B
Top Destination (2020): United States, $7.47B
In 2020, Dominican Republic exported a total of $11B, making it the number 84 exporter in the world. During the last five reported years the exports of Dominican Republic have changed by $1.2B from $9.79B in 2015 to $11B in 2020.
The most recent exports are led by Gold ($1.77B), Medical Instruments ($1.3B), Rolled Tobacco ($838M), Low-voltage Protection Equipment ($811M), and Bananas ($348M). The most common destination for the exports of Dominican Republic are United States ($5.35B), Switzerland ($1.22B), Haiti ($751M), Canada ($477M), and Netherlands ($420M).
Fastest Growing Export Markets (2019 - 2020)
Dominican Republic Exports Services (2020): $3.61B
Dominican Republic Imports Services (2020): $2.96B
In 2020, Dominican Republic exported $3.61B worth of services. The top services exported by Dominican Republic in 2020 were Travel ($2.67B), Embassies and consulates ($295M), Air transport ($201M), Sea transport ($141M), and Insurance services ($76.9M).
The top services imported by Dominican Republic in 2020 were Sea transport ($981M), Other business services ($654M), Air transport ($427M), Insurance services ($237M), and Travel ($211M).
Dominican Republic has a high level of specialization in Other Cotton Fabrics (275), Textile Scraps (75.9), Rolled Tobacco (53.9), Bananas (38.2), and Cocoa Beans (34.5). 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 Chain and parts thereof, of iron or steel (1.5), Microscopes, compound optical; including those for photomicrography, cinephotomicrography or microprojection (1.2), Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of plastics, whether or not in rolls (1.07), Heterocyclic compounds with oxygen hetero-atom(s) only (0.97), and Sewing machines; other than book-sewing machines of heading no. 8440; furniture, bases and covers specially designed for sewing machines; sewing machine needles (0.95). 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 (0.24), Knit Women's Shirts (0.23), Palm Oil (0.23), Melons (0.23), and Knit Men's Suits (0.23). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
During the last 20 years Dominican Republic's economy has become relatively more complex, moving from the 78th to the 66th 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.
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