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Land of opportunity

The Dominican Republic is among the best places to buy real estate in 2016, and certain areas in this country are the absolute best places to be shopping for affordable beachfront retirement. In addition, for a CD with a bank in this country to earn as much as 5% for U.S. dollars and double digits on a Dominican Republic peso deposit.

World Bank review

The Dominican Republic has the largest economy of Central America and the Caribbean. The country has weathered the global economic crisis well and in 2010 experienced one of the highest growth rates in the region. The DR remains the most rapid economy in the region in 2014 and 2015, with a GDP hovering at 7 percent.

About Us

Our primary objective is to use our knowledge, experience and expertise regarding life in the Dominican Republic along with safe and sound business practices to assist all of our clients in creating the life they desire in the Dominican Republic.

Things to know

The Dominican Republic is fast becoming a popular destination for expats. Each year, more and more people from Europe and the US are lured to this part of Hispaniola by the tropical climate, inexpensive properties and high rates of return on investments. Locals, who are known for their friendliness, curiosity and warm hospitality.

Abreu & Associates is one of the leading immigration law firms in the country.

We look forward to helping you in making the right decisions and empowering your future in the Dominican Republic.

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Economy – overview: The Dominican Republic has enjoyed strong GDP growth since 2005, with double digit growth in 2006. In 2007, exports were bolstered by the nearly 50% increase in nickel prices; however, prices are expected to fall in 2008, contributing to a slowdown in GDP growth for the year. Although the country has long been viewed primarily as an exporter of sugar, coffee, and tobacco, in recent years the service sector has overtaken agriculture as the economy’s largest employer due to growth in tourism and free trade zones.
  • GDP (purchasing power parity): $85.4 billion (2007 est.)

  • GDP (official exchange rate): $35.49 billion (2007 est.)

  • GDP – real growth rate: 7.2% (2007 est.)

  • GDP – per capita (PPP): $9,200 (2007 est.)

  • GDP – composition by sector: agriculture: 11.5%
    industry: 28.3%
    services: 60.2% (2007 est.)

  • Labor force: 3.986 million (2007 est.)
    by occupation: agriculture: 17%
    industry: 24.3%
    services: 58.7% (1998 est.)

  • Household income or consumption by percentage share: lowest 10%: 1.4%
    highest 10%: 41.1% (2004)

  • Distribution of family income – Gini index: 51.6 (2004)

  • Inflation rate (consumer prices): 5.8% (2007 est.)

  • Investment (gross fixed): 17.2% of GDP (2007 est.)

  • Budget: revenues: $7.014 billion
    expenditures: $6.985 billion (2007 est.)

  • Agriculture – products: sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn, bananas; cattle, pigs, dairy products, beef, eggs

  • Industries: tourism, sugar processing, ferronickel and gold mining, textiles, cement, tobacco

  • Industrial production growth rate: 5.5% (2007 est.)

  • Electricity – production: 12.22 billion kWh (2005)

  • Electricity – production by source: fossil fuel: 92%
    hydro: 7.6%
    nuclear: 0%
    other: 0.4% (2001)

  • Electricity – consumption: 8.791 billion kWh (2005)

  • Electricity – exports: 0 kWh (2005)

  • Electricity – imports: 0 kWh (2005)

  • Oil – production: 12 bbl/day (2004)

  • Oil – consumption: 116,000 bbl/day (2005 est.)

  • Oil – exports: 0 bbl/day (2004)

  • Oil – imports: 116,700 bbl/day (2004)

  • Oil – proved reserves: 0 bbl (1 January 2006 est.)

  • Natural gas – production: 0 cu m (2005 est.)

  • Natural gas – consumption: 239.8 million cu m (2005 est.)

  • Natural gas – exports: 0 cu m (2005 est.)

  • Natural gas – imports: 239.8 million cu m (2005)

  • Natural gas – proved reserves: 0 cu m (1 January 2006 est.)

  • Current account balance: -$1.993 billion (2007 est.)

  • Exports: $6.881 billion f.o.b. (2007 est.)

  • Exports – commodities: ferronickel, sugar, gold, silver, coffee, cocoa, tobacco, meats, consumer goods

  • Exports – partners: US 72.7%, UK 3.2%, Belgium 2.4% (2006)

  • Imports: $12.89 billion f.o.b. (2007 est.)

  • Imports – commodities: foodstuffs, petroleum, cotton and fabrics, chemicals and pharmaceuticals

  • Imports – partners: US 46.9%, Venezuela 8.4%, Colombia 6.3%, Mexico 5.7% (2006)

  • Economic aid – recipient: $76.99 million (2005)

  • Reserves of foreign exchange and gold: $2.525 billion (31 December 2007 est.)

  • Debt – external: $8.842 billion (31 December 2007 est.)

  • Stock of direct foreign investment – at home: $10.67 billion (2006 est.)

  • Stock of direct foreign investment – abroad: $59 million (2006 est.)

Economy

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