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Dominican Republic – Important Facts

The Dominican Republic is a sovereign state occupying the eastern five-eighths of the island of Hispaniola, in the Greater Antilles archipelago in the Caribbean region. The western three-eighths of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands, along with Saint Martin, that are shared by two countries. Both by area and population the Dominican Republic is the second-largest Caribbean nation (after Cuba), with 48,445 square kilometres (18,705 sq mi) and 10.08 million people, of which approximately three million live in the metropolitan area of Santo Domingo, the capital city.

The Dominican Republic has a mixed economic system which includes a variety of private freedom, combined with centralized economic planning and government regulation.

The Dominican Republic is closely tied to the United States, its largest trading partner by far and home to a major diaspora. Remittances from US Dominicans account for around 5% of national income.

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).

Facts: Dominican Republic Capital: Santo Domingo, Population: 10.2 million, Area: 48,072 sq km (18,696 sq miles), Major language: Spanish, Major religion: Christianity, Life expectancy: 71 years (men) and 77 years (women), Currency: Dominican peso.

Important Details

  • Country ISO3:DOM
  • Country Code:214
  • Income Group:Latin America & Caribbean
  • Lending Category:Upper middle income
  • Region:IBRD
  • Currency Unit:Dominican Peso
  • WTO Member:YES
  • Trade organisations:WTO
  • world rank:88
  • Regional Ranking:17th in the South and Central America/Caribbean Region