Domin. Rep. Economic Outlook
July 10, 2018The economy grew at an impressive rate in Q2, according to recent indicators. Elevated economic activity growth in the first two months of the quarter was driven by manufacturing in duty-free zones, construction and commerce, with the economy benefitting from robust private sector credit growth and lower average interest rates. In addition, tourist arrivals were solid in May on greater inflows from North America. On the fiscal front, the non-financial public sector posted a small surplus in the year to May, while tax revenues exceeded expectations. This comes after growth surged in the first quarter, buoyed by monetary stimulus introduced from the middle of last year.
Dominican Republic Economic GrowthGrowth is set to be the joint-strongest in the region this year. The economy should be buoyed by continuing robust credit provision and fiscal stimulus in the U.S., which will boost remittances, exports and tourism activity. However, elevated debt servicing costs and a narrow tax base pose downside risks, which could become more pressing with higher oil prices and as global financial conditions tighten. FocusEconomics panelists expect GDP growth of 5.1% in 2018, which is up 0.1 percentage points from last month’s forecast. For 2019, panelists see the economy expanding 4.4%.
Dominican Republic Economy Data
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Dominican Republic Facts
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Dominican Republic Economic News
June 28, 2018
The Dominican Republic’s economy continued its strong trajectory in May, with economic activity rising 6.4% according to the Central Bank’s monthly indicator for economic activity (IMAE, Indicador Mensual de Actividad Económica).
June 11, 2018
Consumer prices rose 0.26% in May over the previous month, down from April’s 0.40% rise.
May 28, 2018
The Dominican Republic’s economy started the second quarter as it ended the first; at a blistering pace.
May 10, 2018
Consumer prices rose 0.40% in April over the previous month, up from March’s 0.37% rise.
May 2, 2018
According to a preliminary estimate released by the Central Bank on 2 May, the economy expanded 6.4% in Q1 in annual terms, just below Q4’s 6.5% but significantly above the growth rates observed in the middle of last year.