Chamber of Commerce Country Factsheet Last update: 15.05.2017
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- Violaine Mathurin+352423939481
- Sabrina Aksil+352423939374
The Taino - indigenous inhabitants of Hispaniola prior to the arrival of the Europeans - divided the island into five chiefdoms and territories. Christopher COLUMBUS explored and claimed the island on his first voyage in 1492; it became a springboard for Spanish conquest of the Caribbean and the American mainland. In 1697, Spain recognized French dominion over the western third of the island, which in 1804 became Haiti. The remainder of the island, by then known as Santo Domingo, sought to gain its own independence in 1821 but was conquered and ruled by the Haitians for 22 years; it finally attained independence as the Dominican Republic in 1844. In 1861, the Dominicans voluntarily returned to the Spanish Empire, but two years later they launched a war that restored independence in 1865. A legacy of unsettled, mostly non-representative rule followed, capped by the dictatorship of Rafael Leonidas TRUJILLO from 1930 to 1961. Juan BOSCH was elected president in 1962 but was deposed in a military coup in 1963. In 1965, the US led an intervention in the midst of a civil war sparked by an uprising to restore BOSCH. In 1966, Joaquin BALAGUER defeated BOSCH in the presidential election. BALAGUER maintained a tight grip on power for most of the next 30 years when international reaction to flawed elections forced him to curtail his term in 1996. Since then, regular competitive elections have been held in which opposition candidates have won the presidency. Former President Leonel FERNANDEZ Reyna (first term 1996-2000) won election to a new term in 2004 following a constitutional amendment allowing presidents to serve more than one term, and was later reelected to a second consecutive term. In 2012, Danilo MEDINA Sanchez became president; he was reelected in 2016.
Subject descriptor 2014 2015 2016 2017 2018 Gross domestic product, constant prices 7.341 6.953 5.900 4.500 4.500 Gross domestic product, current prices 64.058 67.197 71.457 75.395 79.553 Gross domestic product per capita, current prices 6,481.308 6,732.964 7,083.276 7,393.636 7,717.898 Inflation, average consumer prices 2.999 0.837 2.309 3.996 4.000 Volume of imports of goods and services 6.401 10.237 6.685 6.189 5.561 Volume of exports of goods and services 9.971 6.094 4.801 4.070 3.502 Unemployment rate 6.400 5.940 5.221 5.317 5.365 Current account balance -2.141 -1.307 -1.709 -2.031 -2.426 Current account balance -3.342 -1.945 -2.391 -2.694 -3.050
Source: IMF Statistics
Luxembourg and the country
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
Air Services agreement
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Country risk as defined by Office du Ducroire for Dominican Republic
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other Useful links:
- CIA World factbook on Dominican Republic
- Camara Oficial de Comercio Dominco Belga Luxemburguesa
- Doing Business in the Dominican Republic
- Das ist die Dominikanische Republik
- La République Dominicaine sur le site de l'AWEX
The Chamber of Commerce and the country