Dominican Republic2019 Economic Complexity : -0.095, Rank 76 of 146
2019 Product Exports | Imports: $10.1B | $17.8B, 89 of 225 | 82 of 225
2019 Per Capita Product Exports | Imports: $938 | $1.66k, N/A of N/A | N/A of N/A
2019 Service Exports | Imports : $9.29B | $3.89B, 29 of 69 | 38 of 69
Overview In 2019 Dominican Republic was the number 64 economy in the world in terms of GDP (current US$), the number 89 in total exports, the number 82 in total imports, the number N/A economy in terms of GDP per capita (current US$) and the number 76 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 (2019): $9.29B
Dominican Republic Imports Services (2019): $3.89B
In 2019, Dominican Republic exported $9.29B worth of services. The top services exported by Dominican Republic in 2019 were Personal travel ($7.4B), Transportation ($675M), Other business services ($558M), Government services, n.i.e. ($314M), and Computer and information services ($91M).
The top services imported by Dominican Republic in 2019 were Transportation ($1.73B), Personal travel ($620M), Other business services ($562M), Insurance services ($251M), and Royalties and license fees ($249M).
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:
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 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'sâ© âšeconomy has become relatively more complex, moving from the â©âš77th to the 76thâ© 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.