Indicators of economy in the Dominican Republic

The essential economic performance of a country is reflected by the gross domestic product, the total of all goods and services sold. Worldwide gross domestic product in 2021 was at about 12,183 USD per capita. GDP in the Dominican Republic, on the other hand, reached USD 8,477 per capita, or 94.24 billion USD for the whole country. The Dominican Republic is therefore currently ranked 66 of the major economies. If this is calculated per inhabitant, taking purchasing power parity into account, then the Dominican Republic ranks 74th in the list of the richest countries.

Inflation in the Dominican Republic in 2022 was around 8.81%. Within the EU, the average in the same year was 9.22 percent. In the United States, it was most recently 8.00%.

The index for perceived corruption in the public sector is 32, which is below average by global standards.

Back to overview: Dominican Republic

Impact of the COVID-19 pandemic

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 dollars to 78.84 billion US dollars. 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 6.2 to 6.1 percent. The country's gross debt increased by 22.7 percent. The consumer inflation rate has risen from 1.8 percent previously to 3.8 percent now.

In 2021, there was already a recovery and the gross domestic product increased to 94.24 billion US dollars (=106.0% of 2019).

Income and purchasing power

The average monthly income in the Dominican Republic is 675 US Dollar per capita. In the USA, the figure is 5,911 US Dollar. However, the prices of consumer goods are also around 52.1 percent lower than in the USA. If you compare income and price levels, the result is a more expensive life in the Dominican Republic than in the United States. The bottom line is that the costs do not offset the lower income, and you get about 76.2 percent less.

However, it is also important to remember that this is a purely statistical model. Both the labor output and the type and quality of the goods received always correspond to the national average on both sides of the equation - so they do not necessarily have to match. Here you can also find an international comparison of cost of living and purchasing power.

Unemployment rates in percentages 1991 - 2022

Economic performance 2021

	Dominican Republic Total	Dominican Republic per capita	EU Total	EU per capita
GDP	94.24 bn USD	8,476.75 USD	17.177 tn USD	33,384.92 USD
Gross national product	90.01 bn USD	8,095.58 USD	16.895 tn USD	32,835.37 USD

In the Global Innovation Index, the Dominican Republic ranked 90th in 2022 with 22.7 points. The index is calculated annually by the World Intellectual Property Organization (WIPO) and most recently included 132 countries. The top country was Switzerland with 64.6 points.

Development of gross domestic product in billions of USD 1960 - 2021

› Debt budget development
› Development of inflation
› Corruption in the Dominican Republic
› Cost of living in a global comparison

Imports and Exports 2021

	Dominican Republic Total	Dominican Republic per capita	EU Total	EU per capita
Imports	28.54 bn USD	2,567.15 USD	8.916 tn USD	17,329.02 USD
Exports	20.51 bn USD	1,844.69 USD	9.554 tn USD	18,569.19 USD

Development of imports and exports in billions of USD 1970 - 2021

Exports

Imports

Largest airports and airlines in the Dominican RepublicThe 8 biggest airports and 6 airlines in the Dominican Republic with further information and data with further information on airlines and destinations

List of the 11 current Pariah States11 countries, that suffer from the sanctions of the international community because of their mostly autocratic government.

Active volcanoes and eruptions in the United StatesVolcanic eruptions and their damages by 17 volcanoes of United States of America