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Dominican Republic

EDC Position-open all programs

EDC's Position

  • Key EDC Market
  • Actively pursuing business
  • Open under all programs, subject to regular approval criteria

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Country At A Glance

Flag of Dominican Republic
Map of Dominican Republic

Country Facts

Nominal GDP59.81 Billion USD
Population9.82 Million
Total Trade/GDP58.28%
CurrencyDominican Peso (DOP)
Merchandise Imports from Canada154.30 Million CAD
Canadian direct investment548 Million CAD
Main importsFuels, Consumer Goods, Raw Materials, Capital Goods

EDC in Dominican Republic

Canadian companies assisted94
International buyers insured173
Business volume405.19 Million CAD

Business Environment

The Dominican Republic (DR) is the largest economy in the region and holds considerable medium and long-term potential. The service industry represents the primary sector of the economy, largely represented by tourism. Although Canada does not have a free trade agreement (FTA) with the DR and a number of Canadian firms are facing growing competition from countries with an FTA, there continues to be opportunities. Canada is one of the largest investors in the country in the mining, financial services and manufacturing sectors. The Government continues to develop construction and infrastructure projects, and is also exploring broader energy sources to reduce the vulnerability to oil prices and to improve efficiencies. Reform of the energy sector would significantly improve the country’s competitiveness. In recent years the DR has experienced significantly better growth than the contractions seen in other markets. Although growth has decelerated, it is expected to increase to 3-4% in 2014 and 5% in the long-term.

Key Industries

  • Construction & Infrastructure
  • Mining & Metals
  • Power

How we can support your business

Through our Head Office operations in Ottawa, we provide support to Canadian companies planning on or currently doing business in the Dominican Republic. Our market experts have developed strategic relationships with major buyers in several sectors as well as a network of local contacts in the market.

  • We are well positioned to help Canadian companies through a range of financing and risk management services.
  • Learn more about our service offering.
 

EDC Representative

Related Information

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