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2023
Economic Complexity
Trade 0.04Rank 62 of 132
2021
Economic Complexity
Technology -1.25Rank 83 of 96
2022
Economic Complexity
Research -0.99Rank 125 of 140
2023
Product
Exports | Imports $13.6B | $30.5B91 of 226 |  70 of 226
2023
Per Capita Product
Exports | Imports $1.2k | $2.69k116 of 220 |  116 of 220

About

Overview In 2023, Dominican Republic was the number 62 economy in the world in terms of GDP (current US$), the number 91 in total exports, the number 70 in total imports, the number 87 economy in terms of GDP per capita (current US$) and the number 62 most complex economy according to the Economic Complexity Index (ECI) .

Exports The top exports of Dominican Republic are Medical Instruments ($2.13B), Gold ($1.28B), Rolled Tobacco ($1.14B), Low-voltage Protection Equipment ($912M), and Ferroalloys ($624M), exporting mostly to United States ($7.08B), Switzerland ($885M), Haiti ($856M), China ($636M), and India ($444M).

Imports The top imports of Dominican Republic are Refined Petroleum ($3.01B), Cars ($1.51B), Petroleum Gas ($1.24B), Crude Petroleum ($755M), and Packaged Medicaments ($619M), importing mostly from United States ($12.2B), China ($5.41B), Brazil ($1.14B), Spain ($1.12B), and Mexico ($1.05B).

Location Dominican Republic borders Haiti by land and Colombia, Venezuela, Aruba, Curaçao, and Turks and Caicos Islands by sea.

Latest Trends

Latest Trade

Flow
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Y-AXIS SCALE

The following section uses the most recent trade data from partners of Dominican Republic.

Disclaimer: data is presented based on availability and only countries that use the harmonized system are being shown.

* Trade values are converted to USD using each month's exchange rate. For December 2023 data, the exchange rate from December 30, 2023 is used.

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Latest Data

Flow
Color
Depth

The data obtained is mirror data. The trade of countries that do not report current data can be reconstructed based on data reported by partner countries with current data available.

*All data is converted to USD using January 2020 exchange rates when data is reported in local currency.

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Historical Data

Yearly Trade

Flow
Color
Depth
Top Export (2023)Medical Instruments$2.13B
Top Destination (2023)United States$7.08B

In 2023, Dominican Republic exported a total of $13.6B, making it the number 91 exporter in the world. During the last five reported years the exports of Dominican Republic have changed by $2.25B from $11.3B in 2018 to $13.6B in 2023.

The most recent exports are led by Medical Instruments ($2.13B), Gold ($1.28B), Rolled Tobacco ($1.14B), Low-voltage Protection Equipment ($912M), and Ferroalloys ($624M). The most common destination for the exports of Dominican Republic are United States ($7.08B), Switzerland ($885M), Haiti ($856M), China ($636M), and India ($444M).

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Exports (2023)
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Destinations (2023)
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Market Growth

Flow
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Growth
Fastest Growing Export Markets (2022 - 2023)
China$135M (+ 26.9%)
Mexico$70.2M (+ 61.1%)
United States$41.7M (+ 0.59%)
Fastest Growing Import Markets (2022 - 2023)
Italy$155M (+ 22%)
Spain$129M (+ 12.9%)
Bahamas$102M (+ 445%)

Total Export Growth by Market (2022 - 2023)

Potential Exports

Potential Exports

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Service Trade

Service Trade

Dominican Republic Exports Services (2020)$3.61B
Dominican Republic Imports Services (2020)$2.96B

In 2020, Dominican Republic exported $3.61B worth of services. The top services exported by Dominican Republic in 2020 were Travel ($2.67B), Embassies and consulates ($295M), Air transport ($201M), Sea transport ($141M), and Insurance services ($76.9M).

The top services imported by Dominican Republic in 2020 were Sea transport ($981M), Other business services ($654M), Air transport ($427M), Insurance services ($237M), and Travel ($211M).

Service Exports (2020)

Service Imports (2020)

Economic Complexity

Overview

Economic Complexity (Trade)0.04Rank 62 of 132
Economic Complexity (Technology)-1.25Rank 83 of 96
Economic Complexity (Research)-0.99Rank 125 of 140

Most Specialized Products by RCA Index

Dominican Republic has a high level of specialization in Other Cotton Fabrics (311), Rolled Tobacco (66.9), Textile Scraps (47.8), Cocoa Beans (36.6), and Molasses (31). Specialization is measured using RCA, an index that takes the ratio between Dominican Republic observed and expected exports in each product.

Most Complex Products by PCI

The highest complexity exports of Dominican Republic according to the product complexity index (PCI) are Machines and appliances, instruments or apparatus of chapter 90; parts and accessories... (1.18), Self-adhesive plates, sheets, film, foil, tape, strip and other flat shapes, of... (1.08), Heterocyclic compounds with oxygen hetero-atom(s) only (1.07), Centrifuges, including centrifugal dryers; filtering or purifying machinery and apparatus for liquids... (1.07), and Furniture; medical, surgical, dental or veterinary (e.g. operating tables, hospital beds, dentists'... (1.05). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

The top export opportunities for Dominican Republic according to the relatedness index, were Knit Men's Shirts (0.25), Knit Men's Coats (0.25), Knit Women's Suits (0.24), Knit Men's Suits (0.24), and Non-Knit Men's Suits (0.24). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Dominican Republic is not specialized in.

Product Space

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products a country currently specializes in.

Relatedness Space

This network shows the products most related to the production structure of Dominican Republic. These are products that tend to be co-exported with the products that Dominican Republic exports. Higher relatedness values ​​indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Relatedness Space (2023)

Diversification Frontier

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Depth

The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower greenhouse emissions.

Diversification Frontier

Economic Complexity Ranking

Methodology
Scale

During the last 20 years Dominican Republic's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨77th to the 62nd⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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ECI (Trade) Ranking by Country

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