GDP in Dominican Republic
Dominican Republic - GDP
Strong final quarter caps stellar 2018
According to a preliminary estimate released by the Central Bank on 27 December, the economy expanded 7.1% in annual terms in the fourth quarter. Although this was down marginally from Q3’s 7.3% increase, it still marked another quarter of above-potential growth. The economy thus expanded 7.0% over 2018 as a whole, likely the strongest performance in the Central America and Caribbean region by some distance.
The fourth quarter’s performance was broad-based. Construction remained an important growth driver (Q4: +8.1% year-on-year; Q3: +9.2% yoy), thanks to private housing, tourism and energy diversification projects. Moreover, the service sector expanded robustly (Q4: +6.0% yoy; Q3: 6.4% yoy), with particularly fast growth in the communication, health and retail subsectors. The latter was likely supported by easy access to credit. The manufacturing sector had a mixed performance: While growth in local production accelerated, growth in production from duty-free zones dimmed notably in Q4.
Looking ahead, GDP growth is expected to moderate in 2019 after such a vigorous performance in 2018, on the back of a tough base effect and softer momentum in the U.S., which will have a knock-on effect on tourism and remittances growth. However, the economic performance will remain strong compared to regional peers, thanks to robust fixed investment and private consumption.
Last month, FocusEconomics Consensus Forecast participants saw the economy growing 5.0% in 2019 and 4.6% in 2020. A new Consensus Forecast will be published on 15 January.
Dominican Republic - GDP Data
|Economic Growth (GDP, annual variation in %)||4.9||7.6||7.0||6.6||4.6|
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic GDP Chart
Source: Dominican Republic Central Bank and FocusEconomics calculations
Dominican Republic Facts
|Exchange Rate||50.41||0.80 %||Jan 30|
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March 28, 2019
The Dominican Republic’s economy continued to expand at an elevated pace in the first two months of 2019, although year-on-year growth was down somewhat from the rates observed last year, due to a less favorable base effect.
March 13, 2019
Consumer prices rose 0.37% in February over the prior month, contrasting January’s 0.17% decline.
February 28, 2019
Consumer prices fell 0.17% in January over the prior month, following December’s 0.22% month-on-month decline.
January 8, 2019
Consumer prices fell 0.22% in December over the prior month, coming after November’s 0.35% month-on-month decline.
December 27, 2018
According to a preliminary estimate released by the Central Bank on 27 December, the economy expanded 7.1% in annual terms in the fourth quarter.