Dominican Republic GDP Q3 2016

Dominican Republic

Dominican Republic: Economic expansion slows in Q3 on weaker industry growth

January 3, 2017

The Dominican economy grew 5.8% in the third quarter of 2016, according to detailed data from the Central Bank. Q3’s expansion marked the lowest result since Q2 2013 and a deceleration from the 8.7% growth seen in the previous quarter.

According to the Central Bank, Q3’s deceleration was mainly the result of weaker growth in the industry sector, which decelerated from the 13.5% increase recorded in Q2 to a 2.6% expansion in Q3—the weakest reading since Q1 2013. The slowdown was mainly due to a sharp deceleration in growth in the construction sub-sector, as well as a notable softening in growth of local manufacturing. Meanwhile, growth in the services sector weakened slightly from 6.5% in Q2 to 6.2% in Q3. On the upside, agriculture expanded 17.0% in Q3, a substantial improvement from the already robust 12.6% growth logged in Q2. The reading marked the fastest growth rate since Q2 2006.

The government predicts that the economy will expand 5.0% in 2017. FocusEconomics Consensus Forecast participants also expect the economy to have grown 5.0% in 2017, which is unchanged from last month’s forecast. For 2018, panelists expect the economy to expand 4.4%.

Author: Massimo Bassetti, Economist

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Dominican Republic GDP Chart

Dominican Republic GDP Q3 2016 0

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

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