Economy of the Dominican Republic

The Dominican Republic has the largest economy in the Caribbean and Central America by GDP. It is a diversified, upper-middle-income economy:

Structure (approx. % of GDP)

• Services: 58.5% – Tourism, finance, telecommunications, real estate.
• Industry: 25.3% – Mining (gold, nickel, ferronickel), manufacturing (textiles, medical devices, electronics), construction.
• Agriculture: 16.2% – Sugar, coffee, cocoa, bananas, rice, tropical fruits.

Key Drivers

• Tourism – 6.5M+ visitors (2018); beaches, resorts, colonial cities (Santo Domingo).
• Free Trade Zones – Export-oriented manufacturing (apparel, medical devices) under CAFTA-DR with the U.S.
• Remittances – ~$10B/year from large diaspora (mainly U.S.).
• Mining – Pueblo Viejo (gold), one of the world’s largest.

Challenges

• High inequality, poverty (~23%), informal employment.
• Vulnerability to hurricanes, earthquakes.
• Electricity sector deficits, corruption.

Strong U.S. ties (trade, tourism, migration) anchor the economy.