Dominican RepublicKapitel
Over the past two decades, the Dominican Republic has been one of the fastest growing economies in the region. However, the drivers of this exceptional growth are reaching their limit due to low productivity growth in recent years. To extend growth and make it inclusive and dynamic, the Dominican Republic will require a greater increase in productivity, through the implementation of reforms to strengthen human capital, competitiveness, innovation, efficiency in public spending and resilience against climatic events.
In terms of regional and international finance and partnerships to catalyse international resources, the Dominican Republic has actively pursued collaboration to attract foreign investment and promote sustainable development. Through the European Union and Dominican Republic partnership, the country engages with Team Europe (the EU, the European Investment Bank, and key European nations) to foster inclusive growth. The government's strategic initiatives include leveraging private capital in the energy sector and establishing public-private partnerships in the aim of attracting more than USD 1 billion in private investments. Additionally, CAF’s USD 40 million financing line supports initiatives for women-led enterprises and enhancements to industrial parks. As the Dominican Republic prepares for the Fourth International Conference on Financing for Development in 2025, it is placing a priority on securing resources for climate change resilience, social infrastructure, and sustainable economic growth. This aligns closely with the EU’s 2021-27 strategy under the Global Europe: Neighbourhood, Development, and International Co‑operation Instrument, which emphasises collaboration and sustainable development.
Source: The World Bank, OECD
Kennzahlen
- Fläche
- 48,670 km2
- Bevölkerung
- 11,331,265 (2023)
- Regierungsform
- presidential republic
- Sprachen
- Spanish (official)
- BIP
- $121.44 billion (2023)
- Wachstumsrate
- 2.4% (2023)
- HDI
- 82
- Hauptstadt
- Santo Domingo
Makroökonomische Indikatoren
The economic growth of the Dominican Republic has tripled the regional average over the past two decades, resulting in 2.8 million people rising out of poverty, a middle class that now surpasses the poor population, and an improvement in the quality of life in terms of access to basic services, housing, and education.
To maintain this dynamic growth and extend its benefits to more households and impoverished areas, it will be crucial to increase productivity through the implementation of reforms to strengthen human capital, competitiveness, innovation, service delivery, public spending efficiency, and resilience to climate events.
In 2024, the economy is expected to grow by 5.1%, thanks to monetary easing, increased public investment, and a record influx of tourists. In the medium term, growth will be driven by strong consumption and investment, supported by reforms in areas such as fiscal policy, energy, water, and employment, as well as initiatives to improve education and attract foreign investment.
The government has shown a strong commitment to addressing the long-standing challenges posed by the electricity sector through a comprehensive package of reforms aimed at increasing transparency, accountability, and efficiency in the sector, continuing the diversification of the energy matrix to include less polluting energy sources, and increasing access to reliable and affordable energy.
Source: The World Bank
IMF Statistics:
| Subject descriptor | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
|
Gross domestic product, constant prices Percent change (Units) |
12.272 |
4.858 |
2.361 |
5.138 |
5.043 |
|
Gross domestic product, current prices U.S. dollars (Billions) |
94.458 |
113.873 |
121.785 |
126.238 |
135.545 |
|
Gross domestic product per capita, current prices U.S. dollars (Units) |
8,965.655 |
10,720.515 |
11,372.125 |
11,692.090 |
12,451.947 |
|
Inflation, average consumer prices Percent change (Units) |
8.243 |
8.812 |
4.786 |
3.390 |
4.532 |
|
Volume of imports of goods and services Percent change (Units) |
18.088 |
17.300 |
-4.477 |
1.332 |
5.310 |
|
Volume of exports of goods and services Percent change (Units) |
26.017 |
15.803 |
1.695 |
5.373 |
9.004 |
|
Unemployment rate Percent of total labor force (Units) |
7.384 |
5.293 |
5.305 |
6.000 |
6.000 |
|
Current account balance U.S. dollars (Billions) |
-2.685 |
-6.549 |
-4.376 |
-4.251 |
-4.608 |
|
Current account balance Percent of GDP (Units) |
-2.843 |
-5.751 |
-3.593 |
-3.368 |
-3.400 |
Estimates
Source: IMF Statistics
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
None
Air Services agreement
None
Weitere Informationen
Foreign Trade
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact Point in Dominican Republic
Luxembourg is represented by Ambassade Royale des Pays-Bas à St Domingue
Source: Ministry of Foreign Affairs of Luxembourg
Country risk as defined by Office du Ducroire for Dominican Republic
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Link: Ducroire Office - Country Risk for Dominican Republic