Dominican Republic GDP

Dominican Republic

Dominican Republic: Economy records strong growth in the first nine months

October 31, 2014

According to preliminary data from the Central Bank, the economy grew 7.0% in the January-September period over the same period last year. The figure marked a noticeable improvement over the 3.7% growth recorded in the same period last year.

January-September’s figure was driven by an improvement in most of the sectors of the economy. Manufacturing expanded 5.7% over the same period last year (Jan-Sep 2013: +3.9% year-on-year). In addition, agriculture rose 5.4%, which was an improvement over the 1.6% expansion observed in the same period last year.

However, on a quarterly basis, the economy grew 6.6% in Q3 over the same period last year. The figure marked a slight slowdown from the 6.7% expansion observed in the second quarter and recorded the slowest growth pace since Q4 2013.

The government’s 2015 budget projects that the economy will grow 4.6% in 2014 and 5.0% in 2015. FocusEconomics Consensus Forecast participants are less optimistic than the government and see the economy growing 4.4% in 2014, which is up 0.3 percentage points from last month’s forecast. For 2015, panelists expect economic growth to pick up to 4.5%, which is up 0.1 percentage points from last month’s estimate.


Author:, Senior Economist

Sample Report

Looking for forecasts related to GDP in Dominican Republic? Download a sample report now.

Download

Dominican Republic GDP Chart


Dominican Republic GDP Q3 2014

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


Dominican Republic Economic News

More news

Search form