Dominican Republic

Capital: Santo Domingo     HDI: 0.715 (101st)

Language: Spanish

GDP (PPP): $147.563 billion

Currency: Peso

Population: 10.4 million

The Dominican Republic is a Caribbean nation that shares the island of Hispaniola with Haiti to the west. Though known for its pristine beaches, all-inclusive resorts and golfing, it has a varied terrain comprising rainforest, savannah and highlands, including Pico Duarte, the Caribbean’s tallest mountain. It has Spanish colonial history going back 500 years, and passionate meringue is its official music and dance. The Dominican Republic has the ninth largest economy in Latin America and is the largest economy in the Caribbean and Central American region.  Though long known for agriculture and mining, the economy is now dominated by services.  Over the last two decades, the Dominican Republic have been standing out as one of the fastest economies in the Americas – with an average real GDP growth rate of 5.4% between 1992 and 2014.  GDP growth in 2014 and 2015 reached 7.3 and 7.0%, respectively, the highest in the Western Hemisphere.  Growth during the first quarter of 2016 was 6.1%.





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