Dominican Republic GDP

Dominican Republic

Dominican Republic: Economic activity slows in Q2

September 10, 2014

According to preliminary estimates from the Central Bank, in the second quarter, GDP rose 6.7% over the same period last year and marked the slowest growth rate in three quarters. The increase represented a deceleration over the revised 7.7% expansion recorded in Q1 (previously reported: +5.5% year-on-year). The significant revision reflects a change of base year from 1991 to 2007 in the calculation of GDP historical data.

Q2’s slowdown came as a result of a deceleration in the agriculture sector (Q1: +0.7% yoy; Q2: +0.3% yoy). In addition, the industrial sector expanded 2.4% in the second quarter, which was down from the 3.7% rise recorded in the first quarter. Conversely, services rose 3.8% in Q2, which was an improvement over the 3.3% rise tallied in Q1.

The government’s 2014 budget projects that the economy will grow between 4.5% and 5.0% this year. FocusEconomics Consensus Forecast participants are less optimistic than the government and see the economy growing 3.7% in 2014, which is unchanged from last month’s forecast. For 2015, panelists expect economic growth to pick up to 3.8%.

Author:, Senior Economist

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Dominican Republic GDP Chart

Dominican Republic GDP Q2 2014

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

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