Exports in Dominican Republic
Dominican Republic - ExportsAfter the economy recorded double-digit growth last year, activity appeared to ease in Q1 2022, in part due to a tougher base effect. Economic activity moderated in annual terms in January–March amid a record-breaking wave of Covid-19 cases in January and associated restrictions. Moreover, a year-on-year fall in remittances and elevated inflation in Q1 should have dented private spending in the quarter. That said, the scrapping of all pandemic-related restrictions for citizens in late February should have cushioned household consumption’s fall. In addition, the tourism sector remained vibrant, with annual growth in visitor arrivals in Q1 averaging 139%. Turning to Q2, the U.S. reduced its alert level for travel to the Dominican Republic in April, which should bolster tourism further ahead, as should the removal of all Covid-19 restrictions for tourists in the same month.
Dominican Republic - Exports Data
|Exports (USD billion)||9.4||9.8||10.1||10.9||11.2|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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May 2, 2022
Economic activity increased 6.4% in year-on-year terms in March, which was above February's 5.8% increase.
April 29, 2022
At its 29 April meeting, the Central Bank of the Dominican Republic (BCRD) decided to leave its policy rate at 5.50%, in line with analysts’ expectations. The decision came despite inflation and inflation expectations continuing to soar further above the BCRD’s target in March and April respectively, with recent events in the global economy—notably the war in Ukraine and Covid-19 lockdowns in China—stoking price pressures.
April 12, 2022
Consumer prices rose 0.67% from the previous month in March, coming in below the 0.92% rise recorded in February.
April 4, 2022
Economic activity expanded 5.8% in year-on-year terms in February, which followed January's 6.3% increase.
March 31, 2022
At its end-March meeting, the Central Bank of the Dominican Republic (BCRD) decided to increase its policy rate by 50 basis points to 5.50%. The decision came as a surprise to some analysts, who had expected a smaller rate hike.