The Dominican Republic is an upper-middle income[13] developing country with important sectors including mining, tourism, manufacturing (medical devices, electrical equipment, pharmaceuticals, and chemicals), energy, real estate, infrastructure, telecommunications and agriculture.

[14][15] The Dominican Republic is on track to achieve its goal of becoming a high-income country by 2030, and is expected to grow 79% in this decade.

[17][18] Although the service sector is currently the leading employer of Dominicans (due principally to growth in tourism and free-trade zones), agriculture remains an important sector in terms of the domestic market and is in second place (behind mining) in terms of export earnings.

[22] Most of these funds are used to cover household expenses, such as housing, food, clothing, health care and education.

[14] In 2019 the foreign direct investment stock amounted to $42 billion a significant growth in the last decade and a half.

[14] In 2020, during the COVID-19 pandemic, foreign direct investment flows in the Dominican Republic had remained strong at $2.5 billion added to the stock in that year.

The textiles sector experienced an approximate 17% drop in exports in 2006 due in part to the appreciation of the Dominican peso against the dollar, Asian competition following expiration of the quotas of the Multi-Fiber Arrangement, and a government-mandated increase in salaries, which should have occurred in 2005 but was postponed to January 2006.

The tobacco, jewelry, medical, and pharmaceutical sectors in the FTZs all reported increases for 2006, which offset textile and garment losses.

Industry experts from the FTZs expected that entry into force of the CAFTA-DR agreement would promote substantial growth in the FTZ sector in 2007.

[27] With almost 80% of the total land area suitable for crop production and about 17% of the labor force engaged in farming, agriculture remains the primary occupation, accounting for 11% of GDP in 2001.

Value of agricultural output grew at an average annual rate of 7.1% during 1968–73, but since 1975 the sector has been hampered by droughts (1975, 1977, and 1979), hurricanes (in 1979 and 1980), and slumping world prices and quota allocations for sugar (since 1985).

After Cuba, the Dominican Republic is the second-largest Caribbean producer of sugarcane, the nation's most important crop.

Production of other crops in 1999 (in thousands of tons) included rice, 563; coconuts, 184; cassava, 127; tomatoes, 281; pulses, 69; dry beans, 26; eggplants, 7; and peanuts, 2.

[28] Marlin, barracuda, kingfish, mackerel, tuna, sailfish, and tarpon are found in the Monte Cristi Bank and Samaná Bay, which also supports bonito, snapper, and American grouper.

The industrial sector contributed an estimated 31.1% to the country's GDP in 2023,[34] led by mining and the manufacture of goods for export to the United States, Europe and Asia.

To a lesser extent, there is the manufacture of food products, consumer non-durables, and building materials for the local market.

[19] Other, more traditional manufacturing is based on sugar refining, cement, iron and steel production, and food processing.

Metaldom is the main steel manufacturer in the country, with production of 1 million tons per year, most of which is exported.

[34] Since the mid-1980s the tourism sector has become one of the country's most important sources of foreign exchange, and more popular tourist destinations.

The country is famous for its favorable location in the Caribbean, tropical climate, beaches, and the restored Spanish colonial architecture.

Many foreign investors have and continue to be encouraged to invest here to build and expand resorts and airports around the coasts.

[19] Successive governments have invested heavily in tourism development, creating upgraded airports and other infrastructure.

Most tourists visit the Dominican Republic on account of its beaches, but there is an expanding eco-tourism and outdoor activity sector, focused on the country's mountains and wildlife.

For instance, they argue that it involves ecological deterioration, profit leakage, social displacement, disported cultural patterns, rising land values, drugs and prostitution.

[36] [37] Retail activity in the Dominican Republic takes many forms, from U.S.-style supermarkets and shopping malls in Santo Domingo to rural markets and tiny family-run corner stores in villages.

In an attempt to regulate the retail sector, the government has recently reformed taxation laws, so that small shops pay taxes on a regular monthly basis.

Low collection rates, illegal connections, infrastructure problems and poor governance are the sources of the high level of electricity loss in the system.

As of 2020 significant investments in the electricity sector have been realized with the construction of the Punta Catalina coal-fired plant.

[45] This disparity highlights ongoing challenges in achieving gender equality in the workforce and indicates potential barriers that women face in accessing employment opportunities.

[45] This situation reflects a significant portion of the economy that operates outside formal regulations, leading to a lack of job security and access to social safety net resources.