Dominican Republic: GDP steady in Q2
September 30, 2012
According to a more complete set of Central Bank data, GDP grew 3.8% in the second quarter, mirroring the result recorded in the previous three-month period. The Q2 reading reflected an improvement in domestic demand, whereas the external sector deteriorated compared to the previous quarter. Total consumption slowed from a 3.9% rise in Q1 to a 1.4% expansion in the second quarter. On the other hand, fixed investment soared 10.7%, contrasting a 4.3% drop in Q1 and marking the highest reading recorded since the third quarter of 2010. Meanwhile, exports rose 1.7% (Q1: +6.4% year-on-year), while imports contracted 0.5% (Q1: +2.6 yoy). Amid slower export growth, the net contribution from the external sector to overall growth stepped down from 1.0 percentage points in the first quarter to 0.7 percentage points in the second quarter.
Author: Armando Ciccarelli, Head of Data Solutions