2020News

Central Bank says recovery of manufacturing sector puts DR on road to economic recovery

The Central Bank reports the Dominican Republic continues on an economic recovery trend. The Central Bank says that the Monthly Economic Activity Indicator (MEAI) shows an inter-annual variation of -4.3% in October 2020, more favorable than -7.2% in August and -5.6% reported in September and seven times better than -29.8% reported in April, the most critical month during the Covid-19 pandemic so far.

The Central Bank highlights that the October numbers are a 25.5% improvement over the -29.8% IMAE posted in April, the month of the most stringent national lockdown.

The Central Bank highlights that the of -4.3% for the month of October, combined with the inter-annual variation rates of the real Gross Domestic Product (GDP) in January-March (0.0%), April-June (-16.9%) and July-September (-7.2%), places the average growth of the Dominican economy for the period January-October 2020 at -7.7%. This is more favorable than the results of -8.5% and -8.1% accumulated at the close of the second and third quarters of the year, respectively.

The Central Bank expects that the positive trend towards recovery will continue in November and December, with even lower negative rates. The Central Bank forecasts that the Dominican economy should close 2020 with a real GDP variation around -6.7 %/ -6.8%.

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Central Bank

30 November 2020