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 12,230 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 2021 was around 8.24%. Within the EU, the average in the same year was 2.55 percent. In the United States, it was most recently 4.70%.
Compared with the USA, prices for daily consumer goods are around 54.2 percent lower.
The index for perceived corruption in the public sector is 30, which is rather poor 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 6.4 to 6.1 percent. The consumer inflation rate has risen from 1.8 percent previously to 3.8 percent now.Unemployment rates in percentages 1991 - 2021
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 |
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
› 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