The Central Bank of the Dominican Republic (BCRD) reports construction (36.5%), free zone manufacturing (28.6%), tourism (22%), transportation and storage (14.2%), local manufacturing (12.9%), commerce (11.1%) and mining and quarrying (9.8%) are the drivers of the Dominican economic recovery. The average accumulated variation for the first seven months of the year is 13.1%.
The Central Bank says that comparing the Monthly Indicator of Economic Activity (IMAE) for January-July 2021 to the same period in pre-pandemic 2019 shows an increase of 3.5%. The Central Bank says that these results reflect the economic reactivation with the Gross Domestic Product (GDP) in real terms surpassing the levels prior to the health crisis.
The Central Bank report states:
“It is important to note that the performance in the first seven months of the year has allowed for an upward revision of GDP projections, which point to 2021 closing at a double-digit year-on-year expansion rate, that is, 10% or more, placing the country as one of the few nations in Latin America that would manage to completely reverse the 2020 contraction of economic activity in just one year. This performance is an irrefutable proof of the resilience of the Dominican economy, demonstrating once again that it knows how to recover from periods of crisis to resume its regional leadership position in terms of growth.”
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Central Bank
3 September 2021