The Centra Bank of the Dominican Republic reports Gross Domestic Product (GDP) growth is doing better than originally expected. Central Bank governor Hector Valdez Albizu spoke of 12.7% growth over the first nine months of the year and forecast 2021 would close with 10% or better. Sector by sector, the news is mostly good, even when compared to 2019, the pre-pandemic year.
The construction sector is up 20%.
The hotel and tourism industry has rebounded with a 30% increase. 3.3 million visitors arrived in the 9-month period (Jan to Sept). September arrival numbers were 12% more than September 2019 numbers. The forecast is to close the year with nearly five million visitors.
Light manufacturing (free zones) is also doing very well with a 30% increase. The Central Bank says the sector has fully recovered with 100% of its pre-pandemic jobs reinstated.
The Central Bank reports that there are nearly 4.6 million persons employed th the Dominican Republic, which is about 97% of pre-pandemic numbers.
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Acento
Listin Diario
Central Bank
25 October 2021