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Dominican Republic's economy in numbers:
Nominal GDP of USD 121.8 billion in 2023.
Nominal GDP of USD 114.0 billion in 2022.
GDP per capita of USD 10,719 compared to the global average of USD 10,589.
GDP per capita of USD 11,361 compared to the global average of USD 10,589.
Average real GDP growth of 5% over the last decade.
Average real GDP growth of 5% over the last decade.
Economic structure:
In 2021, services accounted for 62% of overall GDP, manufacturing 15%, other industrial activity 17%, and agriculture 6%. Looking at GDP by expenditure, private consumption accounted for 66% of GDP in 2021, government consumption 11%, fixed investment 31%, and net exports -8%.International trade:
In 2021, manufactured products made up 57% of total merchandise exports, mineral fuels 1%, food 23%, ores and metals 3% and agricultural raw materials 1%, with other categories accounting for 15% of the total. In the same period, manufactured products made up 68% of total merchandise imports, mineral fuels 18%, food 17%, ores and metals 2% and agricultural raw materials 1%, with other goods accounting for -6% of the total. Total exports were worth USD 14 billion in 2022, while total imports were USD 31 billion.Economic growth:
The economy recorded average annual growth of 5.0% in the decade to 2022. To read more about GDP growth in Dominican Republic, go to our dedicated page.
Fiscal policy:
Dominican Republic's fiscal deficit averaged 3.4% of GDP in the decade to 2022. Find out more on our dedicated page.
Unemployment:
The unemployment rate averaged 6.6% in the decade to 2022. For more information on Dominican Republic's unemployment click here.
Inflation:
Inflation averaged 4.0% in the decade to 2022. Go to our Dominican Republic inflation page for extra insight.
Monetary Policy:
Dominican Republic's monetary policy rate ended 2022 at 8.50%, up from 5.00% a decade earlier. See our Dominican Republic monetary policy page for additional details.
Exchange Rate:
From end-2012 to end-2022 the peso weakened by 28.3% vs the U.S. dollar. For more info on the peso, click here.
46 indicators covered including both annual and quarterly frequencies.
Consensus Forecasts based on a panel of 18 expert analysts.
Want to get insight on the economic outlook for Dominican Republic in the coming years? FocusEconomics collects projections out to 2034 on 46 economic indicators for Dominican Republic from a panel of 18 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts, and averaged to provide one Consensus Forecast you can rely on for each indicator. This means you avoid the risk of relying on out of date, biased or outlier forecasts. Our Consensus Forecasts can be visualized in whichever way best suits your needs, including via interactive online dashboards , direct data delivery and executive-style reports which combine analysts' projections with timely written analysis from our in-house team of economists on the latest developments in the Dominican Republic economy. To download a sample report on the Dominican Republic's economy, click here. To get in touch with our team for more information, fill in the form at the bottom of this page.