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flag Dominican Republic Dominican Republic: Trade Profile

Foreign Trade in Figures

The Dominican Republic is a country suitable for trade, it applies a liberal and open policy. The Free Trade Zone Industrial Association (FTZ) is an important pillar of the country’s economy, which represented more than two-thirds of total exports in 2009. During the period 2007-2009, foreign trade represented 60% of the GDP.

Custom duties are relatively low. However, in order to protect the local producers, certain agricultural products (such as milk, rice, etc.) and luxury products have higher tariffs ranging from 15% to 60%.  Also, special permits are required for the import of certain specific products such as medicines and agricultural fertilizers. It is expected that the Central America-Dominican Republic Free Trade Agreement (CAFTA-DR) which came into force in March 2007 will lead to substantial growth in the FTZ sector in the next coming years.

Like most of the Caribbean islands, the Dominican Republic has a structural trade deficit, a trend that is expected to continue.

The main trading partners of the country are the United States, the European Union and Venezuela.

 
Foreign Trade Indicators 20062007200820092010
Imports of Goods (million USD) 12,17413,59715,99312,46915,610
Exports of Goods (million USD) 6,6107,1606,7485,5426,310
Imports of Services (million USD) 1,5101,6911,8951,7332,048
Exports of Services (million USD) 4,4964,7534,8884,8645,083
Imports of Goods and Services (Annual % Change) 875-10-8
Exports of Goods and Services (Annual % Change) 13-4-7-6
Trade Balance (million USD) -5,564-6,437-9,245-6,741-
Current Account (million USD) -1,287-2,166-4,519-2,159-
Foreign Trade (in % of GDP) 6867655345
Imports of Goods and Services (in % of GDP) 3838393026
Exports of Goods and Services (in % of GDP) 3029252219

Source: WTO - World Trade Organization ; World Bank - Last Available Data.

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Main Partner Countries

Main Customers
(% of Exports)
2010
United States 58.7%
Haiti 16.2%
China 2.7%
Netherlands 2.2%
United Kingdom 2.2%
See More Countries 18.0%
Main Suppliers
(% of Imports)
2010
United States 39.0%
China 10.7%
Venezuela 7.1%
Mexico 6.0%
Colombia 3.8%
See More Countries 33.3%

Source: Comtrade, Last Available Data

Main Products

Main Exports
(% of Exports)
2010
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. 14.3%
Cigars, cheroots, cigarillos and cigarettes of...Cigars, cheroots, cigarillos and cigarettes of tobacco or of tobacco substitutes 6.2%
Woven fabrics of cotton, containing >= 85% cotton...Woven fabrics of cotton, containing >= 85% cotton by weight and weighing <= 200 g/m² 4.9%
Articles of jewellery and parts thereof, of...Articles of jewellery and parts thereof, of precious metal or of metal clad with precious metal (excl. articles > 100 years old) 4.6%
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) 4.5%
See More Products 65.5%
Main Imports
(% of Imports)
2010
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 13.1%
Petroleum oils and oils obtained from bituminous...Petroleum oils and oils obtained from bituminous minerals, crude 5.7%
Petroleum gas and other gaseous hydrocarbonsPetroleum gas and other gaseous hydrocarbons 4.1%
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) 3.7%
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) 2.4%
See More Products 70.9%

Source: Comtrade, Last Available Data

 

To go further, check out our service Import export flows

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Commercial Policy

Main International Economic Cooperation
Member of World Trade Organisation
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%
 

List of tariffs and local taxes that apply to your product on our service Customs duties and local taxes

 
Useful Resources
Directorate General of Customs



National Organization of Intellectual Property
The National Office of Industrial Property.
 

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Learn more about How to Export to the Dominican Republic on Globaltrade.net, the Directory for International Trade Services.
 

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Last Updates: February 2012

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