Current Account in Dominican Republic

Dominican Republic Current Account | Economic News & Forecasts

Dominican Republic - Current Account

Available signs suggest economic momentum has been robust so far in the Q1, albeit somewhat softer than Q4 last year. Economic activity growth clocked 4.7% in January, down from Q4’s 5.8% but still swift by regional standards. Moreover, remittances were up sharply year-on-year in the same month, while credit growth in the private sector surged through February, buttressed by the Central Bank’s monetary stimulus last year. Less positively, tourist arrivals continued to decline sharply in January. In addition, the recent outbreak of coronavirus will continue to depress tourism in the near-term, as well as hurt external demand more broadly. In politics, the suspension of February’s local elections due to technical problems has likely boosted the likelihood of the opposition PRM party and its candidate Luis Abinader performing well in May’s legislative and presidential elections respectively. Such an outcome would lead to a continuation of broadly market-friendly policies.

Dominican Republic - Current Account Data

2014   2015   2016   2017   2018  
Current Account (% of GDP)-3.2  -1.8  -1.1  -0.2  -1.4  

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Dominican Republic Current Account Chart

Dominican Republic Current Account
Note: Current account balance as % of GDP.
Source: Dominican Republic Central Bank and FocusEconomics calculations

Dominican Republic Facts

Value Change Date
Exchange Rate52.960.80 %Jan 01

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