Market Research In Dominican Republic

Dominican Republic Profile:

  • The Dominican Republic is a sovereign state located in the island of Hispaniola, in the Greater Antilles archipelago of the Caribbean region.
  • The country’s Pueblo Viejo mine, is known for the second largest gold mine in the world.
  • The Dominican Republic is a regular member of the Organisation Internationale de la Francophonie.
  • Government corruption and inconsistent electric service remain major problems in the country.
  • International migration affects the Dominican Republic greatly, as it receives and sends large flows of migrants. Mass illegal Haitian immigration and the integration of Dominicans of Haitian descent are major issues.

Dominican Republic Economy:

  • The Dominican Republic has the ninth-largest economy in Latin America and is the largest economy in the Caribbean and Central American region.
  • Over the last two decades, the Dominican Republic has had one of the fastest-growing economies in the Americas – with an average real GDP growth rate of 5.4% between 1992 and 2015. In the first half of 2016 the Dominican economy grew 7.4% continuing its trend of rapid economic growth.
  • The Dominican economy, formerly dependent on the export of agricultural commodities (mainly sugar, cocoa and coffee) for the last three decades, has transitioned to a diversified mix of services, manufacturing, agriculture, mining and trade.
  • Tourism is one of the fueling factors in the Dominican Republic’s economic growth.
  • The service sector accounts for almost 60% of GDP; manufacturing with 22%; tourism, telecommunications and finance are the main components of the service

Dominican Republic Facts:

  • Population: 10.7 million
  • Capital: Santo Domingo
  • Largest city: Santo Domingo
  • Area: 48,670 sq km
  • Major language: Spanish (official)
  • Major religion: Roman Catholic 95%, other 5%
  • Life expectancy: 76 years (Male), 80.6 years (Female)
  • Monetary unit: 1 Dominican Republic Peso(RD$, DOP) = 100 Centavos
  • Main exports: Gold, silver, cocoa, sugar, coffee, tobacco, meats, consumer goods
  • GNI per Capita: $14,500

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