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Economy of Dominican Republic vs Marshall Islands compared: GDP & Debt

Updated on by Georank team

The Dominican Republic has a GDP of $124B compared to $290M for the Marshall Islands, ranking 63/197 and 193/197 by economy size, respectively.

The Dominican Republic has $73.1B in government debt (58.8% of GDP), compared to $38.4M (13.2% of GDP) in the Marshall Islands.

Dominican Republic vs Marshall Islands GDP by year

Dominican Republic
Marshall Islands
1x
Year GDP, current $
Dominican Republic Marshall Islands
2024 $124,282,245,639 $290,108,490
2023 $120,456,239,154 $263,761,322
2022 $113,478,087,135 $258,723,511
2021 $94,850,719,517 $261,245,544
2020 $78,546,672,407 $241,800,000
2019 $89,146,130,745 $232,900,000
2018 $84,994,732,049 $220,000,000
2017 $79,070,274,743 $213,700,000
2016 $75,552,902,636 $201,800,000
2015 $70,966,782,572 $183,700,000
2014 $67,014,329,100 $186,000,000
2013 $62,555,417,415 $186,400,000
2012 $60,561,635,556 $180,700,000
2011 $57,948,261,616 $172,300,000
2010 $53,801,053,353 $161,100,000
2009 $48,223,781,477 $151,200,000
2008 $48,091,433,554 $146,600,000
2007 $43,965,458,509 $150,500,000
2006 $37,879,830,084 $143,200,000
2005 $35,777,560,684 $138,000,000
2004 $22,322,387,382 $132,900,000
2003 $21,403,167,848 $131,128,500
2002 $27,137,440,786 $131,960,000
2001 $25,601,823,688 $122,406,100
2000 $24,305,780,629 $114,838,500
1999 $22,136,579,397 $113,352,100
1998 $21,672,215,547 $112,070,100
1997 $20,017,450,041 $109,884,700
1996 $18,241,622,548 $110,858,000
1995 $16,637,370,839 $120,230,000
1994 $14,644,734,599 $108,071,000
1993 $13,081,042,400 $99,461,000
1992 $11,605,382,504 $91,063,000
1991 $9,824,483,340 $82,507,000
1990 $7,073,675,545 $78,476,000
1989 $6,686,593,060 $72,798,000
1988 $5,374,299,981 $70,688,000
1987 $5,827,050,753 $62,983,000
1986 $6,122,128,558 $55,989,000
1985 $5,044,579,979 $43,879,000
1984 $11,594,000,000 $45,144,000
1983 $9,220,600,000 $41,749,000
1982 $8,267,400,000 $34,918,000
1981 $7,561,300,000 $31,020,000
1980 $6,761,300,000 $26,710,653
1979 $5,498,800,000 $25,545,346
1978 $4,734,400,000 $22,209,370
1977 $4,587,100,000 $20,210,069
1976 $3,951,500,000 $18,153,647
1975 $3,599,200,000 $16,691,301
1974 $2,925,700,000 $15,217,532
1973 $2,344,800,000 $11,607,366
1972 $1,987,400,000 $9,973,652
1971 $1,666,500,000 $9,116,810
1970 $1,485,500,000 $8,408,486
1969 $1,230,500,000 -
1968 $1,079,100,000 -
1967 $1,034,800,000 -
1966 $983,900,000 -
1965 $888,100,000 -
1964 $1,025,599,900 -
1963 $940,799,900 -
1962 $824,100,000 -
1961 $654,100,200 -
1960 $672,399,700 -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

GDP per capita in Dominican Republic vs Marshall Islands by year

Dominican Republic
GDP per capita

GDP per capita, PPP
Marshall Islands
GDP per capita

GDP per capita, PPP
1x
Year Current $
Dominican Republic Marshall Islands
GDP per capita GDP per capita, PPP GDP per capita GDP per capita, PPP
2024 $10,876 $27,542 $7,726 $8,195
2023 $10,630 $25,840 $6,793 $7,549
2022 $10,104 $24,626 $6,456 $7,431
2021 $8,527 $22,053 $6,315 $6,768
2020 $7,135 $18,998 $5,662 $6,137
2019 $8,183 $19,767 $5,292 $6,045
2018 $7,883 $17,995 $4,858 $5,232
2017 $7,413 $16,846 $4,593 $4,719
2016 $7,160 $16,282 $4,230 $4,366
2015 $6,801 $14,804 $3,764 $4,125
2014 $6,496 $13,465 $3,735 $3,931
2013 $6,137 $12,414 $3,678 $3,845
2012 $6,014 $11,777 $3,514 $3,590
2011 $5,827 $11,695 $3,319 $3,537
2010 $5,479 $11,246 $3,095 $3,473
2009 $4,974 $10,382 $2,907 $3,253
2008 $5,024 $10,346 $2,818 $3,118
2007 $4,650 $9,951 $2,892 $3,309
2006 $4,055 $9,130 $2,754 $3,110
2005 $3,878 $8,215 $2,659 $3,017
2004 $2,452 $7,375 $2,566 $2,880
2003 $2,383 $7,098 $2,539 $2,824
2002 $3,066 $7,158 $2,566 $2,825
2001 $2,936 $6,848 $2,394 $2,700
2000 $2,831 $6,639 $2,265 $2,490
1999 $2,621 $6,305 $2,258 $2,400
1998 $2,608 $5,963 $2,254 $2,422
1997 $2,449 $5,618 $2,231 $2,434
1996 $2,271 $5,161 $2,273 $2,583
1995 $2,109 $4,871 $2,491 $2,858
1994 $1,892 $4,599 $2,265 $2,617
1993 $1,722 $4,474 $2,112 $2,452
1992 $1,558 $4,151 $1,963 $2,293
1991 $1,346 $3,722 $1,811 $2,131
1990 $989 $3,641 $1,758 $2,102
1989 $955 - $1,670 -
1988 $784 - $1,670 -
1987 $868 - $1,543 -
1986 $932 - $1,425 -
1985 $784 - $1,162 -
1984 $1,844 - $1,245 -
1983 $1,500 - $1,199 -
1982 $1,376 - $1,046 -
1981 $1,288 - $969 -
1980 $1,180 - $868 -
1979 $984 - $859 -
1978 $868 - $771 -
1977 $863 - $724 -
1976 $763 - $672 -
1975 $713 - $638 -
1974 $595 - $602 -
1973 $490 - $472 -
1972 $427 - $416 -
1971 $368 - $390 -
1970 $338 - $373 -
1969 $287.7 - - -
1968 $259.6 - - -
1967 $256.2 - - -
1966 $250.9 - - -
1965 $233.2 - - -
1964 $277.3 - - -
1963 $262.2 - - -
1962 $236.8 - - -
1961 $193.9 - - -
1960 $205.7 - - -

Data sources: World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

The Dominican Republic's GDP per capita is $10,876, ranking 83/197, compared to $7,726 in the Marshall Islands, ranking 96/197. Adjusted for purchasing power (GDP per capita PPP), the Dominican Republic ranks 76th at $27,542, while the Marshall Islands ranks 139th at $8,195.

Economic indicators

Dominican Republic Marshall Islands
Gross domestic product
$124B
2024
$290M
2024
GDP rank
63/197
2024
193/197
2024
GDP growth
4.95%
2023-2024
2.5%
2023-2024
GDP per capita
$10,876
2024
$7,726
2024
GDP per capita rank
83/197
2024
96/197
2024
GDP per capita, PPP
$27,542
2024
$8,195
2024
GDP per capita PPP rank
76/197
2024
139/197
2024
Government debt
$73.1B
2024
$38.4M
2024
Debt-to-GDP ratio
58.8%
2024
13.2%
2024
Government debt per person
$6,394
2024
$1,022
2024
Government debt per person rank
71/185
2024
142/185
2024
Average annual personal income after taxes
$6,547
2026
$5,044
2026
Income share by richest 10%
29.5%
2024
27.5%
2019
Income share by poorest 10%
2.3%
2024
2.8%
2019
Government expenditure, % of GDP
19.5%
2024
71.6%
2024
Consumer prices inflation
3.3%
2023-2024
5.2%
2023-2024
Central bank interest rate
5.5%
2025
n/a
Unemployment rate
5.31%
2024
9.82%
2021
Population
11637906
35058

Spending and national debt comparison by year

Dominican Republic
Spending

Debt
Marshall Islands
Spending

Debt
1x
Year % of GDP
Dominican Republic Marshall Islands
Government spending Government debt Government spending Government debt
2024 19.5% 58.8% 71.6% 13.2%
2023 19.1% 60.5% 68.4% 18.2%
2022 18.5% 59.6% 67.7% 19.8%
2021 18.4% 62.8% 69.8% 20.1%
2020 22.2% 71.8% 67.8% 21.7%
2019 17.8% 53.5% 65.5% 25.1%
2018 16.5% 50.8% 60.5% 24.7%
2017 17.3% 49.5% 63.7% 26.5%
2016 17% 46.7% 56.8% 29.2%
2015 16.7% 44.8% 56.3% 33.9%
2014 17% 45% 49.2% 34.9%
2013 18.5% 46.8% 55% 33.4%
2012 19.8% 42.4% 53.2% 37.6%
2011 16% 39.1% 55.9% 35.9%
2010 16.1% 37.4% 59.2% 38.8%
2009 16.2% 36.8% 63.1% 41.2%
2008 18.5% 33.6% 64.3% 44.1%
2007 16.3% 32.9% 67.2% 42.2%
2006 17% 36% 61.2% 44.4%
2005 15.5% 38.3% 85.3% 45.8%
2004 17.3% 34.3% 54.5% 46.8%
2003 17.2% 48.2% 52.9% 43.7%
2002 16.5% 21.5% 55.2% 37.2%
2001 14.9% 20.4% 58.8% 32.7%
2000 14.1% 16.7% 56.5% 27.3%
1999 13.4% 16% 48.7% 26.1%
1998 12.6% 13.2% 50.5% 18.1%
1997 13.2% 13.8% 55% 8.73%
1996 11.4% 23% - -
1995 11% 25.7% - -
1994 12.1% 28.5% - -
1993 13% 36.1% - -
1992 10.4% 38.5% - -
1991 8.65% 47.3% - -
1990 9.1% 84.7% - -
1989 11.3% 62.5% - -
1988 12.8% 77% - -
1987 11.2% 86.9% - -
1986 10.4% 63.8% - -
1985 9.8% 66.3% - -
1984 9.32% 28.9% - -
1983 10.2% 32.9% - -
1982 10.2% 33.1% - -
1981 12.1% 29.8% - -
1980 12.8% 15.2% - -
1979 13.8% 24% - -
1978 12.3% 20.9% - -
1977 11.4% 16.4% - -
1976 12.5% 15.6% - -
1975 13.7% 13.1% - -
1974 14.6% 14.6% - -
1973 13.7% 14.6% - -
1972 14.1% 16.4% - -
1971 13.8% 17.8% - -
1970 13.3% 18% - -
1969 15.5% 17.4% - -
1968 15.5% 18.1% - -
1967 15% 16.2% - -
1966 15.2% 14.5% - -
1965 12.8% - - -
1964 16.7% - - -
1963 15.1% - - -
1962 15.7% - - -
1961 20% - - -
1960 20.1% - - -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1960–1996, retrieved 2026-02-20).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

In 2024, the Dominican Republic's government spending was $24.2B, accounting for 19.5% of its GDP, while the Marshall Islands spent $208M, or 71.6% of GDP.

Debt-to-GDP ratio is 58.8% in the Dominican Republic and 13.2% in the Marshall Islands, ranking 83/185 and 179/185, respectively.

Government deficit by year

Deficit/surplus
Dominican Republic

Marshall Islands
1x
Year Deficit/surplus, % of GDP
Dominican Republic Marshall Islands
2024 -3.09% 3.61%
2023 -3.28% 1.14%
2022 -3.25% 0.68%
2021 -2.92% 0.18%
2020 -7.94% 2.54%
2019 -3.46% -1.8%
2018 -2.17% 2.55%
2017 -3.12% 4.38%
2016 -3.11% 3.88%
2015 -0.03% 2.81%
2014 -2.76% 3.2%
2013 -4.41% -0.23%
2012 -6.26% -0.76%
2011 -3.07% 2.13%
2010 -2.97% 3.51%
2009 -2.9% 1.51%
2008 -3.43% 3.68%
2007 0.28% 0.27%
2006 -1.69% 0.24%
2005 -0.71% -22.3%
2004 -3.6% -1.6%
2003 -4.24% 10.5%
2002 -2.28% 5.12%
2001 -0.73% 7.83%
2000 -0.86% 7.84%
1999 -0.79% 9.01%
1998 -0.29% 13.5%
1997 -0.64% 7.91%
1996 0.14% -
1995 0.82% -
1994 -0.39% -
1993 -0.16% -
1992 2.35% -
1991 0.11% -
1990 0.39% -
1989 -0.09% -
1988 -1.68% -
1987 -0.75% -
1986 -0.57% -
1985 -1.27% -
1984 -0.95% -
1983 -1.74% -
1982 -2.4% -
1981 -1.92% -
1980 -1.82% -
1979 -3.26% -
1978 -0.82% -
1977 0.15% -
1976 -0.22% -
1975 1.37% -
1974 -0.93% -
1973 -0.53% -
1972 -1.73% -
1971 -0.85% -
1970 -0.68% -
1969 -0.99% -
1968 -0.99% -
1967 -1.68% -
1966 -2.14% -
1965 -1.84% -
1964 -1.36% -
1963 -0.39% -
1962 -1.17% -
1961 -3% -
1960 -0.61% -
1959 -0.29% -
1958 -1.29% -
1957 0.21% -
1956 -0.05% -
1955 1.47% -
1954 1.43% -
1953 2.79% -
1952 0% -
1951 -2.58% -
1950 -3.66% -

Data sources: International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20); International Monetary Fund (IMF) | Public Finances in Modern History (1950–1996, retrieved 2026-02-20).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

In 2024, the Dominican Republic's government deficit, the difference between spending and revenue, was $3.84B, equivalent to 3.09% of GDP. This compares to the Marshall Islands' surplus of $10.5M, or 3.61% of GDP.

Over the past 28 years, the Dominican Republic recorded a fiscal deficit in 27 of those years, while the Marshall Islands ran a deficit in 5 years. On average, the Dominican Republic posted an annual deficit equal to 2.63% of GDP, compared to surplus of 2.55% of GDP for the Marshall Islands.

Inflation comparison by year

Inflation
Dominican Republic

Marshall Islands
1x
Year Consumer prices inflation
Dominican Republic Marshall Islands
2024 3.3% 5.2%
2023 4.79% 7.4%
2022 8.81% 2.8%
2021 8.24% 2.2%
2020 3.78% -0.7%
2019 1.81% -0.1%
2018 3.56% 0.8%
2017 3.28% 0.1%
2016 1.61% -1.5%
2015 0.84% -2.2%
2014 3% 1.1%
2013 4.83% 1.9%
2012 3.69% 4.3%
2011 5.8% 5.4%
2010 6.33% 1.8%
2009 1.44% 0.5%
2008 10.6% 14.7%
2007 6.14% 2.6%
2006 7.57% 5.3%
2005 4.19% 3.5%
2004 51.5% 2%
2003 27.4% -
2002 5.22% -
2001 8.88% -
2000 7.72% -
1999 6.47% -
1998 4.83% -
1997 8.3% -

Data sources: World Bank | Economy & Growth (1997–2024, retrieved 2026-04-06); International Monetary Fund (IMF) | World Economic Outlook (2004–2024, retrieved 2026-02-20).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

Over the past 21 years, the Dominican Republic has recorded an average annual inflation rate of 6.91%, compared with 2.72% in the Marshall Islands. In 2024, inflation was 3.3% in the Dominican Republic and 5.2% in the Marshall Islands.

Top exports between countries

Dominican Republic
Export category Export value
Processed food, beverages & tobacco $7K
Marshall Islands
Export category Export value
Raw materials & minerals $3.57M

Balance of trade

Dominican Republic Marshall Islands
Current account balance
-$4.17B
2024
$76.3M
2021
Current account balance ranking
163/190
2024
70/190
2021
Current account balance, % of GDP
-3.35%
2024
+29.2%
2021
Goods imports
$29.8B
2024
$133M
2021
Goods exports
$13.9B
2024
$121M
2021
Service imports
$6.34B
2024
$73.1M
2021
Service exports
$14.7B
2024
$9.44M
2021
Imports of goods and services, % of GDP
29%
2024
81.7%
2024
Exports of goods and services, % of GDP
22.8%
2024
42.1%
2024

Economic freedom indices

The indices of economic freedom below are issued by the Heritage Foundation. Higher scores indicate stronger economic health.

Dominican Republic Marshall Islands
Economic freedom 63.8 58
Economic freedom ranking 77/197 113/197
Property rights 53.9 n/a
Government integrity 39.8 n/a
Judicial effectiveness 58 n/a
Tax burden 84.4 n/a
Government spending 89.1 n/a
Fiscal health 76.6 n/a
Business freedom 71.4 n/a
Labor freedom 53.2 n/a
Monetary freedom 72.1 n/a
Trade freedom 67.4 n/a
Investment freedom 60 n/a
Financial freedom 40 n/a

Other economic metrics

Dominican Republic Marshall Islands
Services, % of GDP
59.8%
2024
67%
2024
Industry, % of GDP
28.7%
2024
13.2%
2024
Agriculture, forestry, and fishing, % of GDP
4.45%
2024
19.6%
2024
GNI, Atlas method
$117B
2024
$319M
2024
GNI per capita, PPP
$26,050
2024
$9,680
2024
Total reserves including gold
$13.5B
2024
n/a
Total reserves ranking
71/177
2024
n/a
Net foreign direct investment
-$4.52B
2024
-$499K
2021
Net inflows of foreign direct investment
$4.48B
2024
$1.7M
2024
Net outflows of foreign direct investment
-$47.3M
2024
$0
2024
Servicing debt to the IMF, % of GNI
5.62%
2024
n/a
Poverty at national poverty lines
19%
2024
7.2%
2019
Gross capital formation, % of GDP
27%
2024
20.7%
2024

GDP per capita map

1x

Data sources: World Bank | Economy & Growth (1985–2024, retrieved 2026-04-06); U.S. Census Bureau (1985–2024, retrieved 2026-02-08).

GeoRank.org/economy/dominican-republic/marshall-islands | CC BY

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Data sources:

  1. World Bank | Economy & Growth (1960–2024, retrieved 2026-04-06)
  2. International Monetary Fund (IMF) | Fiscal Monitor (1997–2024, retrieved 2026-02-20)
  3. International Monetary Fund (IMF) | Public Finances in Modern History (1950–1996, retrieved 2026-02-20)
  4. U.S. Census Bureau (1985–2024, retrieved 2026-02-08)
  5. The Heritage Foundation | Economic Freedom Index (2026, retrieved 2026-03-09)
  6. TradeMap (2022–2024, retrieved 2026-02-08)
  7. United Nations | World Population Prospects (2026, retrieved 2026-03-10)
  8. LivingCost (2026, retrieved 2025-10-14)

Creative Commons Attribution (CC BY) — you’re free to copy, share, remix, adapt, and use even commercially as long as you give appropriate credit and clearly indicate if you made changes. Other sources may be subject to different license terms.

The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.

Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.

A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).

Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.

Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.

Principal and interest payments to the IMF in currency, goods, or services on long-term debt expressed as a share of GNI.

Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.