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Dominican Republic economy

The Dominican Republic is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. The Dominican Republic is the second-largest Caribbean nation by area (after Cuba) at 48,671 square kilometers (18,792 sq mi), and third by population with 10,084,000 people (after Cuba and Puerto Rico).

The Dominican Republic’s economy is the fastest growing economy in the Caribbean and Central American region. The Dominican Republic is an upper middle-income developing country primarily dependent on agriculture, trade, tourism and other services. The country’s development is also helped by its proximity to the United States, the largest economy in the world.

The Dominican Republic has been a member of the World Trade Organization since 1995 and a member of the Central American Integration System since 1997. The Dominican Republic is also a member of the Caribbean Community (CARICOM), the Community of Latin American and Caribbean States (CELAC) and the Organization of American States (OAS).

The Dominican Republic has a free market economy with a GDP of $69.4 billion in 2013. The country is classified as a medium income country by the World Bank. The Dominican Republic is the largest economy in the Caribbean and Central American region, and the tenth largest economy in Latin America.

The Dominican Republic is an attractive destination for foreign direct investment and is one of the largest recipients of FDI in Latin America and the Caribbean. In 2012, FDI inflows to the Dominican Republic totaled $3.8 billion, representing a 34% increase from the previous year. The Dominican Republic is the second largest economy in the Caribbean region, after Cuba.

The Dominican Republic’s main trading partners are the United States, Haiti, China, the European Union and Mexico. The Dominican Republic is a beneficiary of the Caribbean Basin Initiative, which grants preferential tariff treatment to goods from certain Caribbean nations.

The Dominican Republic is a middle-income developing country with an economy primarily dependent on agriculture, tourism, trade and other services. The country’s development is also helped by its proximity to the United States, the largest economy in the world.

The Dominican Republic has a free market economy with a GDP of $69.4 billion in 2013. The country is classified as a medium income country by the World Bank. The Dominican Republic is the largest economy in the Caribbean and Central American region, and the tenth largest economy in Latin America.

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