Domin. Rep. Economic Outlook
February 18, 2020
The economy gained significant speed in the fourth quarter according to recent data, with growth underpinned by monetary loosening earlier in the year. The construction sector performed particularly well in the quarter thanks to a series of public and private investment projects, while the financial sector also expanded strongly thanks to the Central Bank’s measures to boost liquidity. However, the hospitality sector contracted, likely linked to lower visitor arrivals. Turning to the first quarter of 2020, early signs suggest momentum remained robust. Private credit growth topped 12% in January, which should be spurring domestic demand. In late January, the government issued USD 2.5 billion in bonds, which will help cover this year’s fiscal deficit. Moreover, the historically low interest rates assigned to the bonds are an encouraging sign regarding investors’ confidence in the economy.Dominican Republic Economic Growth
Growth will likely ebb somewhat this year on a slowdown in the U.S.—the key source of remittances, tourist arrivals and exports—but will outperform regional peers nonetheless. Instability in neighboring Haiti, uncertainty over the duration of the tourism downturn and the still-uncertain impact of the coronavirus pose downside risks to the outlook. FocusEconomics panelists see the economy expanding 4.5% in 2020, which is unchanged from last month’s forecast, and 4.5% again in 2021.Dominican Republic Economy Data
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Dominican Republic Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 52.96 | 0.80 % | Jan 01 |
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Dominican Republic Economic News
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Dominican Republic: Inflation continues to rise in January
February 10, 2020
Consumer prices rose 0.33% in January over the prior month, up from December’s 0.20% rise.
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Dominican Republic: Central Bank leaves rates unchanged in January on encouraging growth and inflation metrics
January 31, 2020
At its January monetary policy meeting, the Central Bank (BCRD) left the policy rate unchanged at 4.50% for the fifth straight month, following 100 basis points of easing in June–August to boost economic activity.
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Dominican Republic: Economy gains further momentum in Q4 2019
January 28, 2020
The economy surged 5.8% in Q4 according to preliminary data, up from Q3’s 4.8% expansion and likely marking the strongest reading in Central America and the Caribbean.
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Dominican Republic: Inflation moves further within target range in December
January 9, 2020
Consumer prices rose 0.20% in December over the prior month, down from November’s 0.37% rise.
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Dominican Republic: Growth accelerates further in November
December 30, 2019
The economy expanded 5.5% in November according to Central bank data, up slightly from October’s 5.2% expansion, with the economy continuing to benefit from significant monetary stimulus earlier in 2019—which has fed through to faster credit growth. November’s expansion was driven by construction, financial services, and manufacturing in free trade zones, although weak tourist arrivals hurt the hotels, bars and restaurants sector, restraining the overall expansion somewhat. Turning to 2020, our panelists expect growth to ebb slightly on slower momentum in the U.S., the Dominican Republic’s key trading partner.
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