GDP in Dominican Republic
Dominican Republic - GDP
Growth eases in Q1 despite solid economic momentum
The economy continued to perform robustly at the outset of the year, growing 5.2% in the first quarter in annual terms, according to preliminary data from the Central Bank. Although the Dominican Republic continues to be one of the fastest growing economies in the region, Q1’s expansion marked the slowest reading since Q2 2013 and a moderate deceleration from the 5.9% increase registered in the previous quarter.
Although economic growth in the country continued to benefit from multiple tailwinds, the fading of some of these, most pressingly low interest rates and oil prices, likely weighed on Q1’s reading. Although a breakdown by expenditure is not available, comprehensive data by sector shows strong performances in financial services, agriculture, construction, hotels and restaurants and communications. These outstripped declines in healthcare, public utilities and mining operations.
The Dominican economy remains on track to grow robustly for yet another year, with recent data for remittances, tourism revenues, export growth and FDI inflows all expanding healthily. S&P Global Ratings recently reaffirmed the country’s BB- rating with a stable outlook, citing the diversified economy and higher growth compared to the region’s average as reasons behind their decision.
After growing by 6.6% last year, growth in the Dominican Republic will slow down somewhat this year. FocusEconomics Consensus Forecast participants see the economy growing 5.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect the economy to decelerate further and expand at a still-robust pace of 4.5%.
Dominican Republic - GDP Data
|Economic Growth (GDP, annual variation in %)||2.8||2.6||4.8||7.3||7.0|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic GDP Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
|Exchange Rate||47.26||0.03 %||May 10|
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May 11, 2017
In April, consumer prices rose 0.27% from the previous month, which followed the 0.20% drop observed in March.
May 8, 2017
In March, economic activity increased 5.9% from the same month of last year, according to an estimate from the monthly indicator for economic activity (IMAE, Índice Mensual de Actividad Económica).
May 8, 2017
The economy continued to perform robustly at the outset of the year, growing 5.2% in the first quarter in annual terms, according to preliminary data from the Central Bank.
April 11, 2017
In March, consumer prices in the Dominican Republic declined 0.20% from the previous month, which contrasted the 0.42% increase observed in February.
Dominican Republic: Economic expansion remains robust thanks to resilient private consumption and exports
April 10, 2017
The Dominican Republic’s economy maintained its robust pace of growth in the final quarter of 2016, as the country continued to benefit from several tailwinds and strong macroeconomic fundamentals.