Current Account in Dominican Republic

Dominican Republic Current Account | Economic News & Forecasts

Dominican Republic - Current Account

The economy has performed well so far this year, and growth remains above-potential despite slowing somewhat from the blistering pace observed in 2018. Economic activity growth in January and February was underpinned by investment and private consumption, while tourist arrivals were up in Q1 and private-sector credit expanded at a double-digit pace in the year to April. In further positive news, remittances surged in annual terms in the first quarter, likely buoyed by a white-hot U.S. labor market. Moreover, the external position is solid: International reserves are at a healthy level, while the current account deficit is manageable. In a March staff visit, the IMF lauded the strong economic momentum and recent monetary and financial market reforms; however, the Fund also urged the government to focus on fiscal consolidation and find a solution for the loss-making electricity sector.

Dominican Republic - Current Account Data

2013  2014  2015  2016  2017  
Current Account (% of GDP)-4.1  -3.3  -1.9  -1.1  -0.2  

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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

Exchange Rate50.530.80 %May 13

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