Economy of the Dominican Republic
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The Economy of 
The Dominican Republic
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Geography, Size  
Climate and Location Where is the Dominican  
Republic ~ How many  
People live there ~  
What is the country like?  
  

Money & Currency 
About the Dominican 
Peso & The Central 
Bank of the Dominican 
Republic 
 

History and Culture  
Learn about Domincan  
History ~ Some facts and interesting things about 
the country's history ~ 
Did you know that 
Santo Domingo was 
the first European 
Settlement in the New 
World? 
  

Government & Politics  
Structure of the  
Government ~ The  
Legislature and other branches of the  
government 
 

The Legal System &  
Dominican Courts 
A review of the nation's 
legal and courts system 
 

Trade, Imports, Exports and Duty  
Information 
A quick reference guide 
regarding Imports & Exports information 
 

About Free Zone  
Manufacturing 
Some general information about setting up operations in one of the duty free trade or manufacturing zones 
 

The Regions, Cities and Towns 
A listing of the regions, cities and different towns in the country 

Recent years have seen dramatic improvements in both the general economy and balance of payments in the Dominican Republic. Recent growth has been higher than the estimated Gross Domestic Product of other Latin American nations for the the same statistical period. The 1996 Gross Domestic Product of the Dominican Republic was 7.3%, and inflation for the same year, 3.8%.  The Gross Domestic Product for 1997 has been calculated at 8.2% by the Central Bank. 

The Dominican Republic previously held Special Drawing Rights with the International Monetary Fund, which had expired in 1994.  Due to the state of the economy and positive growth, The Dominican Republic has not needed to re-new these rights. 

The Dominican Republic has consistenly maintained a very favorable balance of payments, ranking it a positive second place among all Latin American countries in 1994.   

The nation's trade deficit has been calculated at a meager 1.5% of the GDP, making it's ecomomy much sounder in this category than it's larger neighbor to the north, the United States. 

Sectors of growth in 1996 and 1997 include the following:  

Telecommunications ~ 16.7 % Growth in 1996 and     19.2 % Growth in 1997 

Construction ~ 13.6 % Growth in 1996 and 17.1 % Growth in 1997 

Hotels & Tourism ~ 9.5 % Growth in 1996 and 16.7 % Growth in 1997 

Traditional Exports ~ 9.6% Growth in 1996.   
 

The country has made tremendous progress with the growth of it's tourism industry.  It is estimated that the Dominican Republic has some of the highest hotel occupancy statistics in comparison to it's other Cairbbean neighbors.  In addition, guests that visit the Dominican Republic tend to stay longer (10 to 14 days) than the average 7 days for other Caribbean destinations.  Recent figures indicate that the tourism sector is comprised of: 64% visitors from Europe, 11% from the US, 11% from Canada, 7% from other nations in the Caribbean, and the balance of visitors coming from other countries or regions.  To be sure, the tourism sectors stands to grow even further once a larger share of the North-American market is achieved. 

Although tourism is one area to look at, there are tremendous opportunities (and certain favorable tax incentives or legislation) in the Financial Services sector, Mining, Electricity and other sources of energy, Telecommunications, and Insurance.  In addition, the free zone compounds, and related government incentive programs, offer opporunities for a variety of firms to achieve substantial benefits from relocation to the Dominican Republic.  The Dominican Republic hosts the fourth largest number of Free Zone facilities worldwide. The zero tax, zero duty ~ Free Zone environment is ideal for a number of business applications. 

 
This Information has been prepared and compiled by Mr. John Schroder as a service to his clients.  Mr. Schroder maintains an office in Santo Domingo and in Panama.  His firm provides assistance with company incorporations in the Dominican Republic, Offshore incorporations in other tax haven jurisdictions, Residency in the Dominican Republic and Panama, Assistance with Banking and Investments, Real Estate matters and company representation. To contact his firm, please click below: 
 
 

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