Flag Dominican Republic

Econ Complexity (2018): -0.19, Rank 76 of 137

Product Exports (2018): $8.24B, Rank 96 of 222

Exports Per Capita (2018): $775, Rank N/A of N/A

Product Imports (2018): $15B, Rank 83 of 221

Imports Per Capita (2018): $1.41k, Rank N/A of N/A

Service Exports (2018): $9.23B, Rank 31 of 88

Service Imports (2018): $3.22B, Rank 50 of 88

Overview: This page contains the latest international trade data for Dominican Republic, including service trade data, and tariffs. In 2018 Dominican Republic was the number 66 economy in the world in terms of GDP (current US$), the number 96 in total exports, the number 83 in total imports, and the number 76 most complex economy according to the Economic Complexity Index (ECI). In 2018, Dominican Republic exported $8.24B and imported $15B, resulting in a negative trade balance of -$6.73B. In 2018, Dominican Republic's exports per capita were $775 and its imports per capita were $1.41k.

Trade: The top exports of Dominican Republic are Gold ($1.32B), Low-voltage Protection Equipment ($775M), Rolled Tobacco ($769M), Medical Instruments ($535M), and Knit T-shirts ($355M). The top imports of Dominican Republic are Refined Petroleum ($1.59B), Cars ($678M), Petroleum Gas ($645M), Non-Retail Pure Cotton Yarn ($267M), and Corn ($260M).

Destinations: Dominican Republic exports mostly to United States ($4.45B), Canada ($669M), India ($548M), Switzerland ($216M), and Germany ($201M), and imports mostly from United States ($6.45B), China ($2.11B), Brazil ($715M), Spain ($675M), and Mexico ($589M).

Location: Dominican Republic borders Haiti by land and Colombia, Venezuela, Aruba, Curaçao, and Turks and Caicos Islands by sea.

Yearly Exports

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Value
Depth

Top Export (2018): Gold, $1.32B

Top Destination (2018): United States, $4.45B

In 2018 Dominican Republic exported a total of $8.24B, making it the number 96 exporter in the world. During the last five reported years the exports of Dominican Republic have changed by -$1.34B from $9.57B in 2013 to $8.24B in 2018.

The most recent exports are led by Gold ($1.32B), Low-voltage Protection Equipment ($775M), Rolled Tobacco ($769M), Medical Instruments ($535M), and Knit T-shirts ($355M). The most common destination for the exports of Dominican Republic are United States ($4.45B), Canada ($669M), India ($548M), Switzerland ($216M), and Germany ($201M).

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Yearly Imports

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Value
Depth

Top Import (2018): Refined Petroleum, $1.59B

Top Origin (2018): United States, $6.45B

In 2018 Dominican Republic imported $15B, making it the number 83 trade destination in the world. During the last five reported years the imports of Dominican Republic changed by -$2.31B from $17.3B in 2013 to $15B in 2018.

The most recent imports of Dominican Republic are led by Refined Petroleum ($1.59B), Cars ($678M), Petroleum Gas ($645M), Non-Retail Pure Cotton Yarn ($267M), and Corn ($260M). The most common import partners for Dominican Republic are United States ($6.45B), China ($2.11B), Brazil ($715M), Spain ($675M), and Mexico ($589M).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

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).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Dominican Republic. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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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.

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*The tariffs applied to imports for Dominican Republic are:
136: Most Favoured Nation duty rate treatement
154: Preferential tariff Agreement between Caribbean Community (CARICOM) member states
181: Preferential tariff for Central American Common Market CACM (Spanish: Mercado Común Centroamericano MCCA) Central American Integration System SICA
219: Preferential tariff for European Union countries (AA) Association Agreement
285: Preferential tariff for Panama
386: United States - Dominican Republic - Central America Free Trade Agreement (DR-CAFTA; incl. Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua, and the Dominican Republic; 2005)

Economic Complexity

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Economic Complexity Ranking

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Scale

During the last 20 years Dominican Republic's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨85th to the 76th⁩ 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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Most Specialized Products by RCA Index

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Dominican Republic has a high level of specialization in Rolled Tobacco (63.6), Bananas (52), Molasses (46), Cocoa Beans (45), and Textile Scraps (27.6). Specialization is measured using RCA, an index that takes the ratio between Dominican Republic observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Dominican Republic according to the product complexity index (PCI) are Orthopaedic appliances (1.03), Equipment to project, disperse or spray liquid, powder (1.01), Parts, accessories nes for opto-electric instruments (0.94), Plastic articles nes (0.92), and Parts for electrical switches, protectors, connectors (0.88). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Dominican Republic according to the relatedness index, are Crustaceans (0.19), Knit Women's Suits (0.19), Knit Men's Suits (0.19), Knit Men's Shirts (0.19), and Knit Women's Shirts (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.

Diversification Frontier

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Depth

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.