Dominican Republic Economic Activity April 2020

Dominican Republic

Dominican Republic: Economic activity plunges in April

June 8, 2020

Economic activity was down 29.8% year-on-year in April (March: -9.4% year-on-year) due to Covid-19 containment measures, which included a curfew, border closures and the shutdown of non-essential businesses. Looking at individual sectors, the hotels, bars and restaurants; construction; and mining sectors saw the sharpest declines.

As the Central Bank commented in its press release, the economy likely bottomed out in April, and future economic activity readings should exhibit less pronounced declines, due to the reopening of the economy from mid-May and as the impact of March’s substantial monetary easing is felt. That said, the possible reinsertion of lockdown measures if case numbers rise sharply is a downside risk.

Our panelists see the economy shrinking 2.9% in 2020, down 0.3 percentage points from last month’s forecast, and expanding 4.5% in 2021.


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Dominican Republic Economic Activity Chart

Dominican Republic Economic Activity April 20 20

Note: Year-on-year changes of GDP in %.
Source: Dominican Republic Central Bank and FocusEconomics Consensus Forecast.

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