Dominican Republic: GDP slows in Q1
July 2, 2012
According to a more complete set of Central Bank data, GDP grew 3.8% in the first quarter. The figure was down from the 5.2% pace recorded in Q4 2011 and marked the slowest reading in three quarters. The Q1 reading reflected slower growth both in the domestic and the external sector. Total consumption inched down from a 4.0% rise in Q4 to a 3.9% expansion in the first quarter, while fixed investment contracted 4.3%, down from the 1.7% drop recorded in Q4 and marking a fourth consecutive contraction. Meanwhile, exports rose 6.4% (Q4: +10.4% year-on-year), while imports increased 2.6% (Q4: +2.8 yoy). As exports decelerated more than imports, the net contribution to overall growth from the external sector stepped down from 1.8 percentage points in the fourth quarter to 1.0 percentage points in the first quarter.
Author: Armando Ciccarelli, Head of Data Solutions