Dominican Republic GDP

Dominican Republic

Dominican Republic: Economy decelerates in Q1

June 11, 2015

According to preliminary data from the Central Bank, the economy grew 6.5% in the January-March period over the same period last year, which was the slowest expansion in nearly two years. The figure marked a slight deceleration over the 6.6% growth recorded in the previous quarter.

Q1’s growth was driven by an acceleration in the agriculture sector, which expanded 5.8% over the same quarter of the previous year (Q4: +1.2% year-on-year). Conversely, industry decelerated as it grew 5.5% in Q1, which was down from the 9.6% increase seen in the previous quarter. In addition, the service sector expanded 4.9%, which was a deceleration over Q4’s 5.6% in the fourth quarter.

The government’s 2015 budget projects that the economy will grow 5.0% in 2015. FocusEconomics Consensus Forecast participants see the economy growing 5.7% in 2015, which is unchanged from last month’s forecast. For 2016, panelists expect the economy to expand 4.8%.

Author:, Senior Economist

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Dominican Republic GDP Chart

Dominican Republic GDP Q1 2015

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

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