The Dominican Republic continues to be one of the best performing countries in Latin America in economic terms, with an average GDP growth of around 7% in the period of 2014-2016. Growth in 2017 was 4.6 percent, GDP is expected to grow close to 5 percent in 2018 and maintain this rate in the near future.
The extractive sector contributed 2% and 1.9% of total GDP in 2016 and 2017. However, the sector contributed 3.22% of fiscal revenues in 2016. Extractive exports represented 42% of total exports in 2016 and 40% in 2017. The main two commodities are gold and ferronickel. There are two large mining operations in the country, Pueblo Viejo, the country’s largest gold mine and Falcondo. Hydrocarbon exploration is promoted. 19,000 km of 2D geological information is publicly available at the National Hydrocarbons Data Base. Forthcoming bidding rounds will be based on open contracts.
The following figure illustrates the contribution of the extractive sector to the Dominican Republic exports in years 2010 to 2017:
The EITI is part of the government’s transparency framework in its effort to develop the extractive resources.
A number of civil society organizations oppose the expansion of the extractives after the legacy of environmental and social erosion of historical mining exploitation.