The Dominican Republic ranks among the countries with the strongest economic growth prospects worldwide, according to projections from the Harvard Growth Lab, a research center affiliated with Harvard University.
According to the Growth Projections section of the Atlas of Economic Complexity, a platform developed by the Growth Lab, the country is expected to record an average annual growth rate of 3.82% in real GDP between 2024 and 2034, positioning it as one of the most dynamic economies globally in the medium term.
The report highlights a particularly relevant finding: the Dominican Republic is the only country in Latin America and the Caribbean to rank among the top 20 economies worldwide in projected per capita GDP growth over the same period, signaling a stronger performance in population-adjusted economic expansion.
These projections are based on the methodology of the Economic Complexity Index (ECI), which measures a country’s productive capabilities according to the diversity and sophistication of its exports. According to the Growth Lab, countries with more complex productive structures tend to sustain higher and more stable long-term growth rates.
A diversified economic base
In the Dominican case, the projections reinforce the narrative that the country has consolidated a diversified economic base across sectors such as tourism, free zone manufacturing, services and industrial exports, while still facing structural challenges related to productivity, institutional quality and inequality.
“Looking ahead, the country is well positioned to leverage opportunities to further diversify its production, building on existing knowledge and productive capabilities,” the report states.
The data are available on the Atlas of Economic Complexity platform, where users can access country estimates and comparative rankings.
Key data on the Dominican Republic
Harvard highlights that the Dominican Republic is an upper-middle-income economy, ranked as the 59th richest economy in terms of GDP per capita among 145 countries analyzed. With a population of 10.8 million, the country reports a GDP per capita of US$11,541 (or US$29,192 in purchasing power parity – PPP, 2024). Over the past five years, GDP per capita growth has averaged 2.9%, outperforming the regional average.
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