Dominican Republic - Economy
How is the economy of Dominican Republic? Based on the information we have, Dominican Republic has a surging middle-income tourism, construction, mining, and telecommunications OECS economy; major foreign US direct investment and free-trade zones; developing local financial markets; improving debt management; declining poverty. Key agricultural products in this country include: sugarcane, bananas, papayas, plantains, rice, milk, avocados, watermelons, vegetables, pineapples (2022).
More about the economy of Dominican Republic
Labor force 5.302 million (2023 est.)
Industrial production growth rate -0.07% (2023 est.)
Industries tourism, sugar processing, gold mining, textiles, cement, tobacco, electrical components, medical devices
Population below poverty line 23.9% (2021 est.)
Taxes and other revenues 13.82% (of GDP) (2022 est.)
Fiscal year
Exchange rates
Currency Dominican pesos (DOP) per US dollar -
Exchange rates 2023 56.158 (2023 est.)
Exchange rates 2022 55.141 (2022 est.)
Exchange rates 2021 57.221 (2021 est.)
Exchange rates 2020 56.525 (2020 est.)
Exchange rates 2019 51.295 (2019 est.)
Reserves of foreign exchange and gold
Reserves of foreign exchange and gold 2023 $15.547 billion (2023 est.)
Reserves of foreign exchange and gold 2022 $14.523 billion (2022 est.)
Reserves of foreign exchange and gold 2021 $13.125 billion (2021 est.)
Current account balance
Current account balance 2023 -$4.376 billion (2023 est.)
Current account balance 2022 -$6.549 billion (2022 est.)
Current account balance 2021 -$2.685 billion (2021 est.)
Public debt
Public debt 2017 37.2% of GDP (2017 est.)
Budget
Revenues $18.303 billion (2022 est.)
Expenditures $20.072 billion (2022 est.)
Budget surplus (+) or deficit (-)
Remittances
Remittances 2023 8.65% of GDP (2023 est.)
Remittances 2022 9.05% of GDP (2022 est.)
Remittances 2021 11.4% of GDP (2021 est.)
Household income
Lowest 10% 2.6% (2022 est.)
Highest 10% 28.3% (2022 est.)
Average household expenditures
On food 26.6% of household expenditures (2022 est.)
On alcohol and tobacco 3.8% of household expenditures (2022 est.)
Imports
Imports 2023 $34.455 billion (2023 est.)
Imports 2022 $36.838 billion (2022 est.)
Imports 2021 $28.69 billion (2021 est.)
Imports (partners) US 44%, China 15%, Brazil 4%, Colombia 3%, Spain 3% (2022)
Comodities Imports force refined petroleum, natural gas, cars, plastic products, crude petroleum (2022)
Exports
Imports 2023 $34.455 billion (2023 est.)
Imports 2022 $36.838 billion (2022 est.)
Imports 2021 $28.69 billion (2021 est.)
Exports (partners) US 50%, Switzerland 8%, Haiti 7%, China 3%, India 3% (2022)
Comodities Exports force medical instruments, gold, tobacco, power equipment, garments (2022)
Real GDP (purchasing power parity)
Real GDP (purchasing power parity) 2023 $261.616 billion (2023 est.)
Real GDP (purchasing power parity) 2022 $255.582 billion (2022 est.)
Real GDP (purchasing power parity) 2021 $243.74 billion (2021 est.)
GDP (official exchange rate) $121.444 billion (2023 est.)
Real GDP Per capita
Real GDP per capita 2023 $23,100 (2023 est.)
Real GDP per capita 2022 $22,800 (2022 est.)
Real GDP per capita 2021 $21,900 (2021 est.)
GDP - composition, by sector of origin
Agriculture 6.4% (2023 est.)
Industry 31.1% (2023 est.)
Services 56% (2023 est.)
GDP - composition, by end use
Household consumption 64.7% (2023 est.)
Government consumption 11.3% (2023 est.)
Investment in fixed capital 32.2% (2023 est.)
Investment in inventories -0.9% (2023 est.)
Exports of goods and services 21.1% (2023 est.)
Imports of goods and services -28.5% (2023 est.)
Unemployment rate
Unemployment rate 2023 5.56% (2023 est.)
Unemployment rate 2022 5.5% (2022 est.)
Unemployment rate 2021 7.7% (2021 est.)
Youth unemployment rate (ages 15-24)
Total 11.8% (2023 est.)
Male 9.5% (2023 est.)
Female 15.4% (2023 est.)
All Important Facts about Dominican Republic

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Dominican Republic is found in Caribbean