Trade Profile

flag Dominican Republic Dominican Republic: Trade Profile

Foreign Trade in Figures

The Dominican Republic is open to foreign trade and applies a liberal and open policy, with trade representing 54% of the country's GDP (World Bank, latest data available). The Free Trade Zone Industrial Association (ADOZONA), which accounts for more than two-thirds of exports, is an important pillar of the country’s economy. The country mainly exports instruments and appliances used in medical and surgical sciences (14%), gold (14%), ferro-alloys (5.5%), t-shirts (4.1%), pharmaceutical preparations and products (3.9%); whereas imports are led by petroleum oils (7.6%), petroleum gas (5.6%), motor cars (5%), medicaments (3%), and articles of plastics (2.5% - data from Comtrae 2022).

The Dominican Republic's main export partners are the United States (51.8%), Switzerland (10.5%), Haiti (10.4%), India (3.4%), and China (2.8%); with imports coming chiefly from the United States (42.3%), China (17.8%), Brazil (4.8%), Mexico (4.5%), Spain (3.9%), and Colombia (3.0%). The Dominican Republic is a member of the WTO, CARICOM, and CARIFORUM. It also has a preferential trade agreement with Panama, and bilateral investment treaties with Chile, Finland, France, Italy, Korea, Morocco, Netherlands, Panama, Taiwan, Spain, and Switzerland.

Like most of the Caribbean islands, the Dominican Republic has a structural trade deficit. In 2022, the country's exports of goods reached USD 13.7 billion, while imports amounted to USD 30.7 billion, resulting in a deficit of USD 11.6 billion. As for services, exports totaled USD 11.3 billion (thanks to tourism revenues), while imports reached USD 5.6 billion over the same period. According to the National Statistics Office (ONE), the Dominican Republic's trade in goods with the world amounted to USD 40,963.1 million in 2023, marking a 5.7% decrease from 2022. Country exports totaled USD 11,932.0 million, indicating a 3.6% decrease compared to the previous year, representing 29.1% of total trade. Notably, the free trade zone customs regime contributed 67.5% to total exports, while national exports accounted for 30.5%. Consumer goods constituted the largest group of exports at 45.8%, showing a 3.5% increase from the previous year. Raw materials represented 32.0% of total exports, marking a 15.5% decline from 2022, while capital goods comprised the remaining 22.2%, reflecting a 2.5% increase. Merchandise imports amounted to USD 29,031.2 million, reflecting a 5.9% decrease compared to the previous year.

 
Foreign Trade Indicators 20192020202120222023
Imports of Goods (million USD) 20,26817,10524,28230,74328,706
Exports of Goods (million USD) 11,19310,30212,48713,77712,935
Imports of Services (million USD) 4,2583,1974,4085,6175,411
Exports of Services (million USD) 9,3174,5888,11411,32613,332
Imports of Goods and Services (Annual % Change) 6-152515n/a
Exports of Goods and Services (Annual % Change) 2-303614n/a
Trade Balance (million USD) -9,075-6,803-11,796-16,966n/a
Foreign Trade (in % of GDP) 51445356n/a
Imports of Goods and Services (in % of GDP) 28263134n/a
Exports of Goods and Services (in % of GDP) 23182222n/a

Source: WTO – World Trade Organisation ; World Bank - Latest available data.

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Main Partner Countries

Main Customers
(% of Exports)
2022
United States 51.8%
Switzerland 10.5%
Haiti 10.4%
India 3.4%
China 2.8%
See More Countries 21.3%
Main Suppliers
(% of Imports)
2022
United States 42.3%
China 17.8%
Brazil 4.8%
Mexico 4.5%
Spain 3.9%
See More Countries 26.7%

Source: Comtrade, Latest Available Data

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Main Products

9.8 bn USD of products exported in 2022
Instruments and appliances used in medical,...Instruments and appliances used in medical, surgical, dental or veterinary sciences, incl. scintigraphic apparatus, other electro-medical apparatus and sight-testing instruments, n.e.s. 14.0%
Gold, incl. gold plated with platinum, unwrought...Gold, incl. gold plated with platinum, unwrought or not further worked than semi-manufactured or in powder form 14.0%
Electrical apparatus for switching or protecting...Electrical apparatus for switching or protecting electrical circuits, or for making connections to or in electrical circuits, e.g., switches, relays, fuses, surge suppressors, plugs, sockets, lamp holders and junction boxes, for a voltage <= 1.000 v (excl. control desks, cabinets, panels etc. of heading 8537) 8.6%
Ferro-alloysFerro-alloys 5.5%
T-shirts, singlets and other vests, knitted or...T-shirts, singlets and other vests, knitted or crocheted 4.1%
See More Products 53.8%
26.8 bn USD of products imported in 2022
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 5.6%
Motor cars and other motor vehicles principally...Motor cars and other motor vehicles principally designed for the transport of persons, incl. station wagons and racing cars (excl. motor vehicles of heading 8702) 5.0%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals (excl. crude); preparations containing >= 70% by weight of petroleum oils or of oils obtained from bituminous minerals, these oils being the basic constituents of the preparations, n.e.s.; waste oils containing mainly petroleum or bituminous minerals 4.3%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 3.3%
Medicaments consisting of mixed or unmixed...Medicaments consisting of mixed or unmixed products for therapeutic or prophylactic uses, put up in measured doses "incl. those in the form of transdermal administration" or in forms or packings for retail sale (excl. goods of heading 3002, 3005 or 3006) 3.0%
See More Products 78.9%

Source: Comtrade, Latest Available Data

 

To go further, check out our service Import-Export Flows

 
 

Main Services

11.3 bn USD of services exported in 2022
74.62%
9.35%
8.60%
2.80%
1.81%
1.21%
1.04%
0.37%
0.18%
0.01%
5.3 bn USD of services imported in 2022
54.59%
19.14%
8.57%
6.52%
2.90%
2.86%
2.19%
1.68%
0.79%
0.76%

Source: United Nations Statistics Division, Latest Available Data

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Commercial Policy

International Economic Cooperation
Member of the World Trade Organization (WTO)
Member of CAFTA-DR Trade Agreement
Assessment of Commercial Policy
Country’s commercial policy
Barriers to exchanges
Barriers to exchanges
Average Customs Duty (Excluding Agricultural Products)
8.22%
 
 

Trade Compliance

International Conventions
Member of the World Trade Organization (WTO)
International Economic Cooperation
Member of CAFTA-DR Trade Agreement
Useful Resources
Directorate General of Customs (in Spanish)
 
 
 

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Latest Update: May 2024