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  • DOMINICAN REPUBLIC

  • Dominican Republic

    Dominican Republic

    Development Challenges

    Recently recovered from the global recession, the Dominican Republic remains one of the fastest-growing economies in the region. The traditional main activity of the country, the export of sugar, coffee and tobacco, has been replaced by the services sector, in particular tourism and telecommunications, becoming the economy’s largest employer over the agricultural sector. Nevertheless, the agricultural sector has maintained its importance in terms of domestic consumption and is the second highest sector (behind mining) in terms of export earnings. Foreign direct investment is principally aimed towards the Dominican Republic’s manufacturing sector. The country faces development challenges, including:  

    • Inequality and poverty
    • High levels of unemployment and underemployment
    • Inefficient tax collection
    • Successive thefts
    • Inappropriate infrastructure
    • Corruption
    • Poor access to quality primary public education
    • High dependence in remittances from foreign countries
    • Highly politicized electricity distribution system

     Key Trade Issues  

    • Need to diversify trading partners
    • Lack of free trade agreements within the region

     Government Priorities

    • To continue regional and international integration especially with countries in the Western hemisphere and with the principal European capitals
    • To boost exports
    • To shore up dwindling revenues
    • To fix more favorable rates with private lenders
    • To address electricity sector inefficiencies
    • To improve fiscal management
    • To keep fighting against the trafficking of illegal substances
    • To improve the Dominican Republic’s competitiveness
    • To enhance environmental protection

     

    Trade and Tariff Graphs

    Graphs of the country’s export markets, its export performance in a key sector and tariffs exporters of a sample product face.
    Trademap sample Trademap sample: The map uses color codes to illustrate the relative size of different markets in the overall exports of the country shown in pink.
    Trademap sample Trademap sample: The vertical axis shows import values by key importing countries, while the horizontal axis shows export values by the country for the same sector. I.e. the country has gained market share in the case of an importing country at the bottom right of chart and lost market share for countries top left. The size of circles is proportional to market size.
    Market access map sample Market access map sample: The world map shows trade values and tariff levels for a key export product by importing countries. Color codes indicate protection levels. Red circles denote trade volumes.

    Trade and Investment Data

    Detailed data on the country’s export performance, key imports and foreign investment, grouped by product and service categories (HS and BOP).

    Trade Information Sources

    A listing of country specific print and online publications on trade related topics. Includes information from both ITC and external sources.

    Trade Contacts

    The most important trade contacts, including importers’ and exporters’ associations, trade support institutions, trade promotion organizations and institutions providing business development assistance.