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.
Author: Dirina Mançellari, Senior Economist