The Dominican Republic currently occupies the number one position on investments, capturing 49% of all foreign investments directed towards the region. Due to its favorable business climate and diverse economy, the country has become a major attraction for foreign investors.
Located on the Caribbean Sea, the Dominican Republic occupies a prime position when it comes to location, allowing it to function as a crucial link between Europe, North America, and the rest of Latin America. Furthermore, adding to its desirable locality, the country has signed many free trade agreements with the European Union, the United States, and Central America to strengthen relations and incentivize continuous trading. Examples of these treaties include The Dominican Republic- Central America FTA (CAFTA-DR), and the Economic Partnership Agreement (EPA).
According to the National Statistics Office, in 2020 the country achieved the following results: (The amounts below are in millions)
- Foreign Direct Investments (FDI)- US$2,066.40
- Tourism Revenue- USD$1,992.90
- Import of goods- USD$12,177.90
- Export of goods- USD$7,535.60
Its main sectors are Tourism, Trade and Industry, Real Estate, Mining, Electricity, and Free Trade Zone.
The country’s main international investors consist of the United States, Canada, Brazil, Mexico, and Spain.
Worldwide the Dominican Republic occupies 1st
place as the leading cigar supplier, and 3rd
when it comes to furfural, rum, and ostomy focused instruments.