Dominican Republic Economic Activity January 2020

Dominican Republic

Dominican Republic: Economy loses steam in January but remains solid

March 7, 2020

Economic activity grew 4.7% year-on-year in January, down from December’s 6.7% expansion but still marking a robust pace of growth compared to regional peers. January’s growth was driven by the construction and financial services sectors, as the economy continued to benefit from last year’s monetary stimulus.

Looking ahead, the Dominican Republic should record a healthy expansion over 2020 as a whole, underpinned by domestic demand. However, the coronavirus poses a downside risk to growth, due to the likely impact on tourism and external demand.

FocusEconomics Consensus Forecast participants see the economy growing 4.5% in 2020, which is unchanged from last month’s estimate, and 4.5% again in 2021.

Author:, Economist

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Dominican Republic Economic Activity Chart

Dominican Republic Economic Activity January 20 20

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

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