Dominican Economy Up 6%

In the first quarter of 2019, the Dominican Republic's GDP grew 5.7% over the same period in 2018, a rise that is partly explained by the behavior of construction and financial intermediation.

Wednesday, May 15, 2019

Authorities from the Central Bank of the Dominican Republic (BCRD) reported that the sectors with the greatest growth in the first three months were Construction (12.5%), Energy and Water (11.7%), Financial Intermediation (9.5%), Mining (6.3%), Transport and Storage (6.2%), Public Administration (5.7%), Hotels, Bars and Restaurants (5%), Other Service Activities (5.2%), among others.

The BCRD statement notes that "... In the first quarter of 2019, the current account of the Balance of Payments presented a US$241.7 million surplus, and foreign exchange income from exports of goods, tourism, remittances, foreign direct investment and other services totaled about US$7.8 billion, representing an additional US$600 million over 2018."

The document adds that "... foreign direct investment reached US$803.7 million in January-March 2019, an extraordinary increase of 28.2% compared to the first quarter of 2018, mainly focused on the communications, tourism and real estate sectors, reaffirming that we are an attractive destination and a leader in this area in Central America and the Caribbean in recent years."

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More on this topic

Dominican Republic: GDP Up 5% in 2019

January 2020

Construction and financial intermediation were the sectors contributing most to the growth of the Gross Domestic Product registered during 2019.

Construction, with its significant expansion of 10.5%, remained the activity with the greatest impact on economic growth in 2019, driven by the development of public and private investment projects corresponding to low and medium cost housing, by the execution of works in the tourism, commercial and energy sectors, as well as the construction and remodeling of infrastructure for land transport and access roads in rural areas, reported the Central Bank of the Dominican Republic (BCRD).

El Salvador: Economy grows 3%

October 2018

Explained mainly by the private consumption expansion, the Gross Domestic Product reported a year-on-year increase of 3% in the first half of the year.

Regarding growth in the second quarter of the year, the Central Reserve Bank (BCR) reported that the production process informed between April and June this year confirms the greatest boom in economic activity announced during the first quarter, so it increased by one-tenth the growth projection for 2018, with an expected rate of 2.6%.

Panama's Economy Up 5.6%

December 2017

The increase of 5.6% registered in GDP in the third quarter of 2017 was mainly due to a 12% increase in the activity of Transportation, storage and communication and 9% in construction.

From a statement issued by the Ministry of Panama:

Panama: Economic Activity Grows 5.9%

June 2015

In the first three months of the year, economic activity increased by 5.9% compared to the same period in 2014, with the construction sector leading with a growth rate of 8%.

From a statement issued by the General Comptroller of the Republic:

The performance of the Panamanian economy in the first quarter of 2015, measured by Quarterly Gross Domestic Product (initials in Spanish: PIBT), showed an increase of 5.9 percent compared to the same period last year.

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