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Overview of the Dominican Republic

With a population of over 10.53 million consumers and a nominal GDP of $64.14 billion, the Dominican Republic (DR) is the tenth largest economy in Latin America and the largest in the Caribbean region. The Dominican Republic is an upper middle income country, with per capita income over $6,040 per year (Atlas method).

The government of President Danilo Medina, who was reelected in May 2016 for a second term, has introduced a stable macroeconomic environment. The Medina administration has made good on its promise to lower the fiscal deficit from 3.2 percent of GDP in 2014, to an estimated 1.9 percent in 2015. This reduction is mainly due to the substantial fall in international oil prices and its derivatives, as well as 8.7 percent tourism revenue growth and sustained inflows by family remittances. As for the rate of open unemployment, it decreased from 6.4 percent in October 2014 to 5.9 percent in the same month of 2015. The U.S. economic recovery has had a positive impact on the DR economy as well.….more

Market Opportunities

U.S. products and services enjoy a strong reputation for quality and, due in part to CAFTA-DR, are highly competitive.  Consumer attitudes and many brand preferences are similar to those in the U.S. and many major U.S. franchises are present in the country.  U.S. television shows and other media are widely available and popular.  Dominicans travel frequently to the U.S. for business, vacation, medical treatment, study or to visit family.  Their buying patterns and tastes mimic those in the United States. … more

Market Entry Strategies

The DR has few market access issues.  A common market entry option is to appoint an agent or distributor in the DR, with the assistance of local legal counsel in order to ensure that representation agreements can be terminated for non-performance.  Licensing agreements and franchises can also be successful.  Because of the DR’s proximity to the U.S. and low air travel costs, the optimal market entry method is through a coordinated strategy that includes personally visiting potential partners or distributors in the DR.  Forging relationships with well-connected, reputable, and established players is key to finding a good partner.   U.S. exporters should also be prepared to provide all promotional materials in the Spanish language.  Good after-sales service is a pre-requisite to successfully conduct business in the country. …more

Leading Sectors for U.S. Export and Investment:

Air Conditioning and Refrigeration Equipment

Automobile Parts and Services

Building Products

Hotel and Restaurant Equipment

Medical Equipment

Renewable Energy

Sporting Goods


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