Dominican Republic2021 Economic Complexity : -0.0043, Rank 63 of 131
2021 Product Exports | Imports: $12.9B | $24.5B, 87 of 226 | 76 of 226
2021 Per Capita Product Exports | Imports: $1.18k | $2.24k, 123 of 219 | 119 of 219
2020 Service Exports | Imports : $3.61B | $2.96B, 46 of 65 | 48 of 65
Overview In 2021, Dominican Republic was the number 61 economy in the world in terms of GDP (current US$), the number 87 in total exports, the number 76 in total imports, the number 76 economy in terms of GDP per capita (current US$) and the number 63 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Dominican Republic are Gold ($1.78B), Medical Instruments ($1.48B), Rolled Tobacco ($1.13B), Low-voltage Protection Equipment ($867M), and Ferroalloys ($460M), exporting mostly to United States ($6.61B), Haiti ($955M), Switzerland ($937M), India ($693M), and Netherlands ($396M).
In 2021, Dominican Republic was the world's biggest exporter of Other Cotton Fabrics ($154M)
Imports The top imports of Dominican Republic are Refined Petroleum ($1.38B), Cars ($1.03B), Petroleum Gas ($964M), Jewellery ($727M), and Vaccines, blood, antisera, toxins and cultures ($503M), importing mostly from United States ($10.3B), China ($4.6B), Spain ($717M), Brazil ($624M), and Mexico ($619M).
In 2021, Dominican Republic was the world's biggest importer of Cotton Sewing Thread ($16.4M)
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.
The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.
*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.
Top Export (2021): Gold, $1.78B
Top Destination (2021): United States, $6.61B
In 2021, Dominican Republic exported a total of $12.9B, making it the number 87 exporter in the world. During the last five reported years the exports of Dominican Republic have changed by $2.47B from $10.4B in 2016 to $12.9B in 2021.
The most recent exports are led by Gold ($1.78B), Medical Instruments ($1.48B), Rolled Tobacco ($1.13B), Low-voltage Protection Equipment ($867M), and Ferroalloys ($460M). The most common destination for the exports of Dominican Republic are United States ($6.61B), Haiti ($955M), Switzerland ($937M), India ($693M), and Netherlands ($396M).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
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 (362), Rolled Tobacco (76.3), Textile Scraps (64.5), Molasses (35.9), and Cocoa Beans (35.1). 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 Oxygen Heterocyclic Compounds (1.3), Microscopes (1.28), Self-adhesive Plastics (1.22), Liquid Dispersing Machines (1.09), and Knitting Machines (1.07). 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, were Knit Men's Shirts (0.24), Spices (0.24), Packing Bags (0.24), Knit Women's Shirts (0.23), and Crustaceans (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 63rd 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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