Unemployment in Dominican Republic
Dominican Republic - UnemploymentThe economy contracted 7.2% in Q3 according to preliminary data, much milder than Q2’s 16.9% collapse. The softer drop was likely due to an incipient recovery in tourism following the reopening of borders in July. Moreover, remittances surged in the quarter as the U.S. labor market recovered, which should have buttressed private consumption. However, the economic panorama was still downbeat: The hotels, bars and restaurants subsector fell, as visitor arrivals were still down sharply year-on-year, while the retail and transport sectors also declined. Turning to Q4, momentum should be improving, with visitor arrivals likely up from Q3. However, the extension of the curfew in mid-October will continue weighing on domestic activity, while Haiti’s decision to impose a USD 800 fee on the Dominican Republic’s exports will hurt the external sector—Haiti is the country’s second most important trading partner.
Dominican Republic - Unemployment Data
5 years of economic forecasts for more than 30 economic indicators.
Dominican Republic Unemployment Chart
Source: Dominican Republic Central Bank.
Dominican Republic Facts
|Exchange Rate||52.96||0.80 %||Jan 01|
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Dominican Republic: Central Bank keeps rates steady in February, but provides extra financing to firms
February 28, 2021
At its end-February meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the sixth month running.
February 15, 2021
Consumer prices rose 0.97% in January over the previous month, accelerating from December's 0.48% increase.
February 2, 2021
Economic activity slid 1.0% year-on-year in December (November: -3.4% yoy).
January 31, 2021
At its end-January meeting, the Central Bank (BCRD) kept the policy rate at 3.00% for the fifth month running, following easing last year in the form of liquidity injections and 150 basis points of rate cuts. The decision not to cut further was likely influenced by improving domestic and external dynamics lessening the need for further stimulus: Domestically, the contraction in economic activity moderated in December, while externally, many economies performed better than expected towards the end of last year, and the vaccine rollout is supporting optimism over global growth ahead.
January 14, 2021
Consumer prices rose 0.48% over the previous month in December, which was below the 0.60% rise recorded in November.