• Analysis and Studies
• Dominican Republic: a look at the market

Overview
In 2022, the Dominican Republic ranked as the 64th largest economy globally in terms of GDP (current US$). It placed 92nd in total exports, 72nd in total imports, and 77th in GDP per capita (current US$). Additionally, it was the 62nd most complex economy according to the Economic Complexity Index (ECI).

Exports
The Dominican Republic's main export products include Medical Instruments ($1.72 billion), Gold ($1.46 billion), Rolled Tobacco ($1.11 billion), Low-voltage Protection Equipment ($949 million), and Ferroalloys ($575 million). Its primary export destinations are the United States ($6.85 billion), Switzerland ($1.08 billion), Haiti ($1.02 billion), China ($400 million), and India ($390 million).

Imports
The country's key imports are Refined Petroleum ($2.67 billion), Petroleum Gas ($1.43 billion), Cars ($1.26 billion), Crude Petroleum ($783 million), and Coal Briquettes ($690 million). Its main import partners include the United States ($13.7 billion), China ($4.66 billion), Brazil ($1.16 billion), Colombia ($935 million), and Spain ($895 million).

Location
The Dominican Republic shares a land border with Haiti and maritime borders with Colombia, Venezuela, Aruba, Curaçao, and the Turks and Caicos Islands.

Data from BACI HS6 REV. 1992 (1995 - 2022).

Dominican Republic's Most Specialized Products (RCA Index)

The Dominican Republic demonstrates significant specialization in several products based on the Revealed Comparative Advantage (RCA) index. The country shows exceptional specialization in Other Cotton Fabrics (RCA: 341), Rolled Tobacco (RCA: 79.4), Textile Scraps (RCA: 73.3), Cocoa Beans (RCA: 38.6), and Molasses (RCA: 34.8).

The RCA index is a metric used to evaluate the relative importance of a country's exports for a specific product compared to global expectations. A high RCA value indicates that the Dominican Republic exports these products at much higher levels than what would typically be expected, underscoring the country's competitive edge and expertise in these sectors.

Data from BACI HS6 REV. 1992 (1995 - 2022),. and BACI HS6 REV. 1992 (1995 - 2022).

Source: https://oec.world/en