Dominican Republic's GDP changed from approximately $8B 672M in 1980 to $127B 356M in 2024, showing an overall 1368.6% sharply increased during the period.
The lowest GDP was recorded in 1985 at $6B 496M, and the highest in 2024 at $127B 356M.
Over the 44-year span, the GDP showed a overall increase with some decline trend, with an average annual growth rate of 6.3%.
For comparison, the average annual growth rate of Haiti was 5.1%, and that of Puerto Rico was 4.9%.
Overview of Dominican Republic's GDP (1980–2024)
The Gross Domestic Product (GDP) of Dominican Republic recorded a 1368.6% sharply increased from 1980 to 2024.
The average GDP during this period was $40B 477M, and the median was $24B 306M.
GDP fluctuated within a range of $120B 860M, with a standard deviation of $34B 292M.
The average annual change was $2B 425M.
Dominican Republic GDP from 1980 to 2024
The total market value of goods and services produced annually in Dominican Republic.
Data Source: International Monetary Fund
Image Source: Freepik from www.flaticon.com
Highest and Lowest GDP Records
- Lowest GDP: 1985, $6B 496M
- Highest GDP: 2024, $127B 356M
- Most Recent GDP: 2024, $127B 356M
Notable Annual GDP Changes
- 2022: Significant increase in GDP
- 2020: Noticeable drop in GDP
Overall pattern: overall increase with some decline
Global Economic Events and Dominican Republic's GDP
COVID-19 Pandemic (2020)
- Period: From 2019 to 2020
- GDP Change: $89B 32M → $78B 923M
- Outcome: sharply declined
2008 Global Financial Crisis
- Period: From 2007 to 2009
- GDP Change: $44B 67M → $48B 319M
- Outcome: increased
2001 Dot-com Bubble Burst
- Period: From 2000 to 2001
- GDP Change: $24B 306M → $25B 602M
- Outcome: increased
1998 Asian Financial Crisis
- Period: From 1997 to 1998
- GDP Change: $20B 17M → $21B 672M
- Outcome: increased
Key Economic Indicators of Dominican Republic (1980–2024)
| year | Nominal GDP | GDP per Capita | PPP per Capita | PPP GDP | GDP Growth | Current Account | Savings | Fiscal Balance | Population |
|---|---|---|---|---|---|---|---|---|---|
1980 | $ 8B 672M | $ 1,534.32 | $ 2,429.35 | $ 13B 730M | 7.969 % | -8.302 % | 8.11 % | 0 % | 5M 652K people |
1981 | $ 9B 698M | $ 1,677.45 | $ 2,710.94 | $ 15B 672M | 4.279 % | -4.015 % | 11.14 % | 0 % | 5M 781K people |
1982 | $ 9B 141M | $ 1,545.10 | $ 2,860.66 | $ 16B 924M | 1.7 % | -4.842 % | 7.49 % | 0 % | 5M 916K people |
1983 | $ 9B 461M | $ 1,562.13 | $ 3,038.22 | $ 18B 400M | 4.628 % | -4.417 % | 11.74 % | 0 % | 6M 56K people |
1984 | $ 14B 870M | $ 2,397.60 | $ 3,112.44 | $ 19B 303M | 1.253 % | -1.099 % | 12.61 % | 0 % | 6M 202K people |
1985 | $ 6B 496M | $ 1,022.61 | $ 3,068.20 | $ 19B 491M | -2.123 % | -1.656 % | 12.14 % | 0 % | 6M 353K people |
1986 | $ 7B 891M | $ 1,212.35 | $ 3,162.49 | $ 20B 584M | 3.522 % | -2.324 % | 12.61 % | 0 % | 6M 509K people |
1987 | $ 8B 305M | $ 1,245.27 | $ 3,483.05 | $ 23B 228M | 10.117 % | -4.384 % | 13.45 % | 0 % | 6M 669K people |
1988 | $ 7B 605M | $ 1,113.84 | $ 3,597.83 | $ 24B 566M | 2.156 % | -0.249 % | 16.83 % | 0 % | 6M 828K people |
1989 | $ 8B 589M | $ 1,230.74 | $ 3,818.89 | $ 26B 652M | 4.401 % | -3.81 % | 17 % | 0 % | 6M 979K people |
1990 | $ 7B 995M | $ 1,123.24 | $ 3,672.70 | $ 26B 142M | -5.454 % | -3.497 % | 14.51 % | 0 % | 7M 118K people |
1991 | $ 9B 887M | $ 1,365.23 | $ 3,767.12 | $ 27B 281M | 0.945 % | -1.591 % | 16.71 % | 0 % | 7M 242K people |
1992 | $ 11B 605M | $ 1,573.69 | $ 4,208.19 | $ 31B 34M | 11.221 % | -6.1 % | 17.95 % | 0 % | 7M 375K people |
1993 | $ 13B 81M | $ 1,741.67 | $ 4,541.44 | $ 34B 109M | 7.365 % | -4.074 % | 15.68 % | 0 % | 7M 511K people |
1994 | $ 14B 645M | $ 1,916.44 | $ 4,677.45 | $ 35B 743M | 2.6 % | -1.932 % | 19.07 % | 0 % | 7M 642K people |
1995 | $ 16B 637M | $ 2,141.06 | $ 4,963.24 | $ 38B 567M | 5.685 % | -1.099 % | 18.95 % | 0 % | 7M 771K people |
1996 | $ 18B 242M | $ 2,309.92 | $ 5,270.46 | $ 41B 621M | 5.978 % | -1.166 % | 18.89 % | 0 % | 7M 897K people |
1997 | $ 20B 17M | $ 2,495.03 | $ 5,746.15 | $ 46B 101M | 8.885 % | -0.814 % | 21.29 % | 0.088 % | 8M 23K people |
1998 | $ 21B 672M | $ 2,658.54 | $ 6,102.78 | $ 49B 749M | 6.714 % | -1.561 % | 26.51 % | 0.353 % | 8M 151K people |
1999 | $ 22B 137M | $ 2,674.83 | $ 6,458.55 | $ 53B 450M | 5.94 % | -1.939 % | 25.17 % | -0.122 % | 8M 276K people |
