Dominican Republic Country Analysis

Before the arrival of Europeans, the indigenous Taino tribes ruled the island that would soon become known as Hispaniola. The island was founded by Christopher Columbus in his famous voyage of 1492, where he then claimed the newly founded area for Spain. This quickly set the path of conquest for the rest of the Caribbean islands and the original American colonies. After several exchanges of control from hands of the Spanish, French, and Haitians, the Dominican Republic finally became its own independent country in 1865. It then struggled with many years of severe rulers and dictatorships, causing civil war and many uprisings within the state. After receiving aid from the United States, the country was then able to establish its own Presidential dollar amount for the year of 2015. The country imports several different commodities including: foodstuffs, petroleum gas, chemicals, pharmaceuticals, fabrics, and cotton. The Dominican relies heavily on the United States for many of its imported products, receiving nearly half of all these items from the US. The country’s four other top import trade partners would be: China, Venezuela, Trinidad, and Mexico (“The World Factbook: DOMINICAN REPUBLIC”). Moving on to exports, the country earned $9.523 billion from their commodities, placing them 91st in the world for the export revenue. Their wide variety of prized products include: silver, gold, meats, consumer goods, sugar, cocoa, coffee, and tobacco. Once again, the United States is a very significant trade partner for the Dominican Republic, serving as 42.9% of their export industry. Along with the U.S., the neighboring country of Haiti serves as a major export partner, as well as Canada and India (“The World Factbook: DOMINICAN

After a recent recession that left the country in poor condition, the DR is quickly getting back up on its feet, increasing its GDP, import and export standing, and simply its overall economic quality. The country is quickly climbing the ranks, beginning to stand as one of the largest and most successful economies in Latin America. With the increase of tourism, trade, and communication in the developing country, the Dominican is continuing to grow at a very impressive rate and it seems that it will continue to do so in the years to