Domin. Rep. Economic Outlook
September 14, 2021The economy recorded colossal growth in Q2, with activity climbing at a record year-on-year pace, notwithstanding tighter Covid-19 restrictions imposed in May. Although Q2’s reading was driven in part by a low base effect, the economy surpassed its pre-pandemic level in the period. The recovery came amid the fast and targeted response of the authorities, with strong monetary and fiscal support. Turning to Q3, available signs are favorable amid solid macroeconomic fundamentals and a successful vaccination campaign. In July, the economic activity index recorded robust growth amid falling Covid-19 cases and the easing of the nightly curfew. Also in July, remittances continued to rise thanks to a resurgent U.S. economy, likely supporting domestic demand. Meanwhile, tourism numbers in July–August edged up towards their pre-pandemic levels.
Dominican Republic Economic GrowthThis year, the economy is set to soar, thanks to accelerating U.S. growth, a high vaccination rate and fiscal and monetary support. Moreover, the president’s popularity could aid the implementation of growth-boosting reforms. However, instability in Haiti could contribute to refugee flows, potentially stoking social tensions, posing a downside risk. FocusEconomics panelists see the economy growing 8.2% in 2021, which is up 0.8 percentage points from last month’s forecast, and expanding 5.0% in 2022.
Dominican Republic Economy Data
5 years of Dominican Republic economic forecasts for more than 30 economic indicators.
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Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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Dominican Republic Economic News
September 9, 2021
Consumer prices rose 0.80% in August over the previous month, accelerating from the 0.54% increase logged in July.
September 2, 2021
Economic activity rose 12.1% year-on-year in July (June: +12.7% yoy).
August 31, 2021
At its end-August meeting, the Central Bank (BCRD) decided to keep the policy rate at 3.00%.
August 8, 2021
Consumer prices rose 0.54% in July over the previous month, decelerating from the 0.63% increase logged in June. Inflation decreased from 9.3% in June to 7.9% in July, but remained above the Central Bank’s target range of 3.0%–5.0% for the ninth straight month.
July 30, 2021
At its end-July meeting, the Central Bank (BCRD) decided to keep the policy rate at 3.00%.