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Overview of the Dominican Republic

The Dominican Republic is situated in the heart of the Caribbean, bathed by the waters of the Atlantic Ocean on the north coast and by the Caribbean Sea to the south. It was discovered by Christopher Columbus on his first voyage, on December 5, 1492, and occupies an area of 48,442 square kilometers of the 77,914, which it shares with the neighboring Republic of Haiti.

Fast Facts

 Capital City:  

  Santo Domingo

 President:

  Danilo Medina Sánchez

 Official Language: 

  Spanish

 Currency:

  Dominican pesos

 Exchange Rate:

  RD$41.80 x US$1

 Land Area:

  48,442 km2

 Population (2012 est):

  10.09 million

 Climate:

  Tropical

International Airports: Las Américas (Santo Domingo), Herrera (Santo Domingo), La Romana, Punta Cana, Santiago, Puerto Plata, Samana and Barahona.

Major Ports: Santo Domingo, Haina, San Pedro de Macorís, Barahona, Las Calderas, Boca Chica and Puerto Plata.

Trade Highlights

  • On March 1, 2007 the CAFTA-DR Free Trade Agreement was implemented allowing almost 80% of U.S. goods to enter the DR duty free.
  • The U.S. has an approximately 43% market share in the Dominican Republic, with approximately 70% of consumer goods imported into the Dominican republic coming from the United States.
  • The Dominican Republic is the 9th largest market in the Western Hemisphere for US exports after Canada, Mexico, Brazil, Colombia, Chile, Venezuela, Argentina and Peru.

Economic Outlook

  • Bi-lateral trade between the United States and the DR amounted to US$ 11.46 billion in 2012
  • The economy is based on tourism, agriculture and service industries

Best Prospects