According to preliminary estimates from the Central Bank, GDP rose 7.2% over the same period of the previous year in Q4. The increase represented a significant acceleration over the 5.5% expansion recorded in Q3 and marks the fastest growth rate since Q4 2010. In the full year 2013, GDP grew 4.1%, which was slightly above the 3.9% increase tallied in 2012. The improvement was largely the result of an acceleration in the industry sector, which expanded 11.7% in Q4 (Q3: +5.1% year-on-year). The services sector picked-up from a 3.8% increase in Q3 to a 4.8% expansion in Q4. Conversely, growth in agriculture slowed (Q3: +8.3% yoy; Q4: +7.8% yoy). The government's 2014 budget projects that the economy will grow between 4.5% and 5.0% this year. FocusEconomics Consensus Forecast participants are less optimistic than the Central Bank and see the economy growing 3.5% in 2014, which is unchanged from last month's forecast. For 2015, panelists expect economic growth to pick up to 3.7%.
Dominican Republic GDP
GDP records largest expansion since Q4 2010
January 16, 2014
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Note: Year-on-year changes of GDP in %.
Source: Dominican Republic Central Bank and FocusEconomics Consensus Forecast.
Dominican Republic Economic News
October 10, 2016
In September, consumer prices increased 0.04% from the previous month, which contrasted the 0.06% decline observed in August.
October 4, 2016
In August, economic activity increased 5.4% over the same month of last year, according to an estimate of the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica).
October 3, 2016
According to detailed data from the Central Bank, the economy grew a robust 8.7% in the second quarter of the year, marking the best result since Q1 2010.
September 7, 2016
In August, consumer prices declined 0.06% over the previous month, which contrasted the 0.19% rise observed in July and marked the lowest reading in four months.
August 25, 2016
The economy grew 8.7% in the second quarter of the year in annual terms, according to preliminary data from the Central Bank.