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Overview of the Dominican Republic

The Dominican Republic is situated in the heart of the Caribbean, bathed by the waters of the Atlantic Ocean on the north coast and by the Caribbean Sea to the south. It was discovered by Christopher Columbus on his first voyage, on December 5, 1492, and occupies an area of 48,442 square kilometers of the 77,914, which it shares with the neighboring Republic of Haiti.

Fast Facts

 Capital City:  

  Santo Domingo

 President:

  Danilo Medina Sánchez

 Official Language: 

  Spanish

 Currency:

  Dominican pesos

 Exchange Rate:

  RD$39.80 x US$1

 Land Area:

  48,442 km2

 Population (2012 est):

  10.09 million

 Climate:

  Tropical

International Airports: Las Américas (Santo Domingo), Herrera (Santo Domingo), La Romana, Punta Cana, Santiago, Puerto Plata, Samana and Barahona.

Major Ports: Santo Domingo, Haina, San Pedro de Macorís, Barahona, Las Calderas, Boca Chica and Puerto Plata.

Trade Highlights

  • On March 1, 2007 the CAFTA-DR Free Trade Agreement was implemented allowing almost 80% of U.S. goods to enter the DR duty free.
  • The U.S. has an approximately 43% market share in the Dominican Republic, with approximately 70% of consumer goods imported into the Dominican republic coming from the United States.
  • The Dominican Republic is the 9th largest market in the Western Hemisphere for US exports after Canada, Mexico, Brazil, Colombia, Chile, Venezuela, Argentina and Peru.

Economic Outlook

  • The country has experienced a economic growth rate of 3.5% in 2009.  
  • Although the country has long been viewed primarily as an exporter of sugar, coffee, and tobacco, in recent years the service sector has overtaken agriculture as the economy's largest employer due to growth in tourism and free trade zones.
  • Housing projects, highways, malls and commercial buildings are the priority for the Dominican Government and Private Sector.
  • The hotel industry is making strides to remedy the deficiencies in the basic services (electricity, water, and protecting the environment).

Best Prospects

  • Automotive Parts and Services
  • Medical Equipment
  • Telecommunication Equipment
  • Building Products
  • Printing and Graphic Arts Equipment
  • Air Conditioning and Refrigeration Equipment
  • Hotel and Restaurant Equipment
  • Renewable Energy
  • Travel and Tourism