On August 5, 2004, the United States signed the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) with five Central American countries (Costa Rica, El Salvador, Guatemala, Honduras, and Nicaragua) and the Dominican Republic (the Parties). Under the Agreement, the Parties significantly liberalizes trade in goods and services.
The CAFTA-DR also includes important disciplines relating to: customs administration and trade facilitation, technical barriers to trade, government procurement, investment, telecommunications, electronic commerce, intellectual property rights, transparency and labor and environmental protection.
The Agreement entered into force for the United States and El Salvador on March 1, 2006; for, Honduras and Nicaragua on Aril 1 2006; and for Guatemala on July 1, 2006. The CAFTA-DR entered into force for the Dominican Republic on March 1, 2007, and for Costa Rica on January 1, 2009.
Dominican Republic Trade & Investment Summary
U.S. goods and services trade with Dominican Republic totaled an estimated $30.5 billion in 2022. Exports were $17.0 billion; imports were $13.5 billion. The U.S. goods and services trade surplus with Dominican Republic was $3.4 billion in 2022.
U.S. goods exports to Dominican Republic in 2022 were $14.0 billion, up 30.6 percent ($3.3 billion) from 2021 and up 101 percent from 2012. U.S. goods imports from Dominican Republic totaled $6.9 billion in 2022, up 9.5 percent ($599 million) from 2021, and up 58 percent from 2012. The U.S. goods trade surplus with Dominican Republic was $7.1 billion in 2022, a 60.6 percent increase ($2.7 billion) over 2021.
U.S. exports of services to Dominican Republic were an estimated $3.0 billion in 2022, 15.6 percent ($401 million) more than 2021, and 55 percent greater than 2012 levels. U.S. imports of services from Dominican Republic were an estimated $6.6 billion in 2022, 23.5 percent ($1.3 billion) more than 2021, and 93 percent greater than 2012 levels. Leading services exports from the U.S. to Dominican Republic were in the transportation, travel, and financial services sectors. The United States had a services trade deficit of an estimated $3.7 billion with Dominican Republic in 2022, up 30.7 percent from 2021.
U.S. foreign direct investment (FDI) in Dominican Republic (stock) was $2.5 billion in 2022, a 3.7 percent increase from 2021. U.S. direct investment in Dominican Republic is led by manufacturing, information services, and wholesale trade.
Dominican Republic's FDI in the United States (stock) was $139 million in 2022, down 14.2 percent from 2021.