Domin. Rep. Economic Outlook
December 4, 2018The economy performed well in the third quarter, with data revealing broad-based growth which was particularly strong in the duty-free manufacturing and construction sectors. Moreover, job creation strengthened, while exports were up notably in annual terms in the January–September period. Looking ahead to the fourth quarter, growth has likely remained robust. The number of tourists and remittances continued to boom in annual terms in October, likely supported by a tighter U.S. labor market. Moreover, the recent fall in oil prices will likely lead to a lower import bill, benefiting the external sector. On the political front, in mid-November, the Dominican Republic and Russia agreed to abolish visa requirements for citizens to travel between the two nations, which could boost Russian tourist arrivals going forward.
Dominican Republic Economic GrowthLooking ahead, growth will likely soften slightly due to a less favorable base effect. However, a budding labor market, strong fixed investment and spillovers from the robust U.S. economy—which should fuel remittances, exports and tourism activity—should ensure growth remains elevated compared to regional peers. Downside risks include monetary tightening in the U.S., high debt servicing costs, and vulnerability to severe weather conditions. FocusEconomics panelists expect GDP growth of 5.0% in 2019, which is up 0.1 percentage points from last month’s forecast. For 2020, panelists see the economy expanding 4.6%.
Dominican Republic Economy Data
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Dominican Republic Facts
|Exchange Rate||50.27||0.80 %||Dec 12|
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Dominican Republic Economic News
October 23, 2018
According to a preliminary estimate released by the Central Bank on 23 October, the economy expanded 7.3% in annual terms in the third quarter.
October 12, 2018
Consumer prices rose 0.08% in September over the prior month, up from August’s 0.03% rise.
October 4, 2018
On 28 September, the government presented its 2019 budget to congress, and parliamentary approval should not be too difficult given the government’s absolute majority in both chambers.
Dominican Republic: Inflation falls in August, Central Bank leaves rates on hold and adopts a more dovish stance
September 13, 2018
Consumer prices rose 0.03% in August over the previous month, contrasting July’s 0.02% fall.
September 5, 2018
The Dominican Republic’s economy continued to grow at an elevated pace in July, with economic activity rising 6.5% according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).