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Indicators of economy in the Dominican Republic

The essential economic performance of a country is reflected by the gross domestic product. So the total of all goods and services sold. Worldwide gross domestic product in 2020 was at about 10.915 US Dollar per capita. In contrast, the GDP in the Dominican Republic reached 7.268 US dollars per inhabitant, or 78.84 bn US Dollar in the whole country. The Dominican Republic is therefore currently ranked 68 of the major economies. If this is calculated per inhabitant taking into account the purchasing power parity, then the Dominican Republic is in the list of the world's richest countries in place 76.

Inflation in the Dominican Republic was in 2021 at around 8.24%. Within the EU, the average in the same year was 2.62%. In the United States, it was most recently 4.70%.

Compared with the USA, prices for daily consumer goods are around 54.2% lower.
The Corruption Perceptions Index for the public sector counts 67 and is compared to other countries moderate.


Back to overview: Dominican Republic

Impact of the Covid-19 pandemic in 2020

The consequences of the Covid pandemic in 2020 were considerable in the Dominican Republic. Overall, gross domestic product in 2020 fell from 88.94 billion US Dollar auf 78.84 billion US Dollar. With a large drop of 11.35 percent, the economy in the Dominican Republic has struggled significantly more than other countries. Fortunately, the unemployment rate actually fell from 6.4 to 6.1 percent. The consumer inflation rate has risen from 1.8% previously to 3.8% now.

Unemployment rates in percent 1991 - 2021

Economic performance 2020

 Dominican Republic
Total
Dominican Republic
per capita
EU
Total
EU
per capita
GDP78.84 bn USD7,268.20 USD15,291.93 tn USD29,692.11 USD
Gross national product78.79 bn USD7,262.88 USD15,330.84 tn USD29,767.66 USD


Development of the Gross domestic product in billion US Dollar 1960 - 2020



Im- and Exports 2020

 Dominican Republic
Total
Dominican Republic
per capita
EU
Total
EU
per capita
Imports20.19 bn USD1,861.07 USD7,340.01 bn USD14,251.98 USD
Exports14.44 bn USD1,331.55 USD7,939.04 bn USD15,415.11 USD


Development of imports and exports in billion US dollars 1970 - 2020

Exports
Imports



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