Dominican Republic

Dominican Republic GDP Q1 2019

Dominican Republic: Growth ebbs in the first quarter but was likely still the fastest in the region

According to a preliminary estimate released by the Central Bank on 14 May, the economy expanded 5.7% in the first quarter of 2019. While down from the 6.6% growth registered in Q4, the reading marked another quarter of above-potential growth and was likely the fastest in Central America and the Caribbean.

The first quarter’s performance was broad-based. Construction remained a key growth driver (Q1: +12.5% yoy; Q4: +13.2% yoy), while the service sector grew solidly (Q1: +5.3% yoy; Q4: +5.7% yoy). with the energy and water and financial services subsectors leading the way. Mining output growth was up notably (Q1: +6.3% yoy; Q4: +0.3% yoy). The economy as a whole was likely buoyed by a double-digit credit expansion, solid employment growth and surging FDI inflows.

Looking ahead, GDP growth is expected to continue moderating towards potential, on the back of a tough base effect and a deceleration in the U.S.—a key source of tourist arrivals, remittances and exports. However, growth will compare favorably to regional peers, thanks to strong fixed investment, and with low inflation and healthy credit growth supporting private consumption.

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest