The Central Bank of the Dominican Republic has published its January-August 2021 report on the Dominican economy. The Central Bank forecasts the Gross Domestic Product will increase 10% in 2021.
The Central Bank reports that accumulated inflation to August 2021 for the year is 5.41% in year-on-year terms. Inflation is expected to end the year on target — 4.0% ± 1.0%.
International reserves levels are at US$12.93 billion as of 30 September 2021, which is equivalent to 7.4 months of imports and 14% of GDP, well above the 10% of GDP recommended by the International Monetary Fund (IMF).
The blessing this year has been the high level of remittances sent back by Dominicans living abroad that totaled US$7.03 billion at the end of August, for an interannual variation of 38.6%.
Total exports of goods reached US$8.13 billion, million, and when compared to the same period of 2019 (pre-pandemic), exports have increased by 10.1%.
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Central Bank
4 October 2021