Dominican Republic GDP

Dominican Republic

Dominican Republic: Economy decelerates slightly in Q4

April 16, 2015

According to more detailed data from the Central Bank, the economy expanded 6.6% in the last quarter of 2014, thus marking a slight deceleration over the 6.8% expansion observed in the previous quarter. For the full year 2014, GDP expanded an impressive 7.3%, which is up from the revised 4.8% increase tallied in 2013 (previously reported: +4.6%). The new growth figures reflect the recent revision of the base year and composition of GDP.

In Q4, private consumption grew 2.2% over the same quarter last year, which was a slowdown over the 2.6% increase seen in the previous quarter. In addition, growth in government consumption decreased from 14.0% in Q3 to 10.0% in Q4. Conversely, fixed investment performed better and grew 11.4% in Q4, which was up from the 7.3% increase recorded in the previous quarter.

On the external side of the economy, exports accelerated and grew 9.4%, which was an improvement over the 6.2% increase seen in Q3. In addition, growth in imports increased from 3.4% in Q3 to 5.8% in Q4. The net contribution of the external sector to overall economic growth remained unchanged at the previous quarter’s 0.9 percentage points.

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 Q4 2014

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

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