Main export destinations
Dominican exports to North America are dominated by the United States and Canada
The United States remains the main importer of Dominican Republic exports, and if positive growth expectations are realized, economic growth in the United States as the Dominican Republic's main trading partner will drive the Dominican Republic's own growth.
Exports from the Dominican Republic to Europe
Switzerland, the Netherlands, the UK, Germany and Spain are the top five European business partners for the Dominican Republic. Overall, it is the Dominican Republic's second-largest export market after North America.
Traditional products such as cigars, cocoa beans, bananas and liqueurs make up the bulk of the Dominican Republic's exports to European countries. However, the variety of products exported to Europe has increased in recent years, from a concentrated model where five main products account for 80% of total exports to a diversified model with less reliance on a few products.
Medical devices, ferroalloys, footwear or plastics are some of the products that have begun to gain traction in Dominican exports to Europe in recent years. The Netherlands is the second largest customer of the footwear industry in the Dominican Republic and the third largest customer of plastic products.
Germany, Belgium and the Netherlands are the second, third and fourth largest importers of medical devices to the Dominican Republic, respectively. Needless to say, the heatmap of Dominican exports to Europe is changing.
Dominican Republic exports to Asia: India and China
Exports to India: a highly concentrated market
India is the fifth largest importer of goods from the Dominican Republic. Dominican exports to India were valued at $592 million in 2016, almost all of which came from three products: 90 percent from gold exports, 5.9 percent from ferroalloys and 1.8 percent from cocoa beans.
Exports to China: Raw Materials Continue to Dominate, Diversification Trend Begins
The trade balance between the Dominican Republic and China clearly favors the Asian powerhouse, with imports from the Dominican Republic accounting for 14% of the Dominican Republic's imports in 2016. On the other hand, Dominican exports to China accounted for only 1.4%. all.
However, despite the modest numbers in the context of mutual willingness and cooperation, exports to China continued to experience the greatest growth in Latin America and the Caribbean.
Exports of raw materials to China account for more than half of the export value. Exports of medical devices also played an important role, accounting for 10% of total exports, and China was the fourth largest importer of the industry.
