The human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. Dominican republic economic indicators moodys analytics. Dominican republic gross domestic product gdp growth rate. Potential growth declined by about 2 percentage points in costa rica, the dominican republic, and honduras from 200607 to 2014, slightly more than 1. Dominican republic economy 2020, cia world factbook. Gdp growth rate at constant prices dominican republic. Know about the economic context of the dominican republic thanks to key figures of the economy. This contrasted sharply with that of the average 1. The dominican republics economic growth has been one of the strongest in the lac region over the past 25 years.
In the longterm, the dominican republic gdp annual growth rate is projected to trend around 2. Gross domestic product of dominican republic grew 7% in 2018 compared to last year. Nevertheless, the expansion should still be notably above the regional average. Dominican republic vs haiti santo domingo, santiago. Dominican republic gdp growth rate table by year, historic, and current data.
Potential output growth estimates for central america and the. Unemployment rate for dominican republic from international monetary fund imf for the international financial statistics ifs release. Gdp growth rate in dominican republic is expected to be 6. This report provides background information on political and economic conditions in the dominican republic, as well as an overview of some of the key issues in u. This page provides forecast and historical data, charts, statistics, news and updates for dominican republic unemployment rate. Central americas economy continues its good growth trend as a whole with 3. Dominican republic gdp real growth rate economy indexmundi. Over the last two decades, the dominican republic have been standing out as one of the fastest economies in the americas. Dominican republic economy, politics and gdp growth summary.
Over the last two decades, the dominican republic has stood out as one of the fastest economies in the americas with an average real gdp growth rate of 5. A tax reform package passed in november 2012, a reduction in government spending, and lower energy costs helped to narrow the central government budget deficit from 6. Cuba, dominican republic and puerto rico country risk report q2 2016 core views a gradually improving tourism sector and strong private consumptiongrowth will drive robust real gdp growth rates in the dominicanrepublic in the next few years. Dominican republic weddings by denis lemann 87,660 views. Politics are currently dominated by the may presidential election. April 2016 the economy, supported by solid macroeconomic fundamentals, continues to perform well, although the latest gdp data point to a slight moderation in the growth beachtown property dominican republic real estate company based in las terrenas samana selling villas, houses, apartments, land, hotels and investments for sale we also we. According to a projection from the united nations economic commission for latin america and the caribbean eclac, panama will lead regional growth 2016 with an expansion of 6.
Browse additional economic indicators and data sets, selected by global finance editors, to learn more about the. Growth rate of the real gross domestic product gdp from 2014 to. Dominican republic gdp annual growth rate 19922019 data. In terms of public financing capacities, the dominican republic s total tax revenues were. The dominican republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but over the last three decades the economy has become more diversified as the service. Dominican republic global economic prospects examines trends for the world economy and how they affect developing countries.
Growth rate of gdp % by country updated 0402 2016 this page in. Gdp continues to hover at 7% a year driven largely by construction, manufacturing and tourism. Dominican republic gdp gross domestic product 2018. The dominican republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but over the last three decades the economy has become more diversified as the service sector has overtaken agriculture as the economy s largest employer, due to growth in construction, tourism, and free trade zones. The dominican republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but over the last three decades the economy has become more diversified as the service sector has overtaken agriculture as the economy s largest employer, due to growth. The first important steps toward free trade were taken by president salvador jorge blanco, dominican revolutionary party prd from 1982 to 1986, by liberalizing the exchange regime. The percentage change in gdp per capita for the latest 5 years for which data is published.
Dominican republic economy projected growth to reach 5% santo domingo. Dominican republic gross domestic product gdp growth. World bank dominican republic dominican republic gdp growth rate information is provided as is and solely for informational purposes, not for trading purposes or advice, and may be delayed. The dominican republic has long been viewed primarily as an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economy s largest employer, due to growth in telecommunications, tourism, and free trade zones. In the first half of 2016 the dominican economy grew 7. The minister for economy, planning and development of the dominican republic, isidoro santana, stated that the economic growth trend is expected to reach 5% at the end. In contrast to the period between 20 and 2015, in 2016 economic growth was less propoor in. Dominican republic and trafficking in persons, have also been of interest to congress. Feb 11, 2019 gross domestic product gdp growth rate in dominican republic 2024 dominican republic. Dollars, annual, not seasonally adjusted 1951 to 2017 20190611 inflation, consumer prices for the dominican republic. Dominican republic economy, politics and gdp growth.
Cuba, dominican republic and puerto rico country risk report. Real gdp at constant national prices for dominican republic millions of 2011 u. Updated data, charts and expert forecasts on dominican republic gdp. The countries had the same per capita real gdp in 1960 but, by 2005, the dominican republic s per capita real gdp had tripled whereas that of haiti had halved. Dominican republic expenditure on education % of gdp 2016. Potential output growth estimates for central america and. Roberto garciasaltos, iulia ruxandra teodoru, and fan zhang. Public debt is high across the oecs, putting a limit on state spending in other areas. The dominican republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but in recent years the service sector has overtaken agriculture as the economys largest employer, due to growth in construction, tourism, and free trade zones. The country is one of the fastest growing economies. Dominican republic gdp growth rate 19912019 data 2020. The who country health profile of dominican republic provides key statistics and links to health topical databases, plus news, features and bulletin journal articles on the health issues of the country. The economy of the dominican republic is the eighth largest in latin america, and is the largest in the caribbean and central america region. Growth is the fastest in the region and the imf praised the countrys economic and financial progress following its most recent article iv visit in december 2015.
World economics makes available of worlds most comprehensive gdp database covering over countries with historical gdp ppp data from 18702018, building on the lifetimes work of angus maddison. Central america dominican republic the world factbook. Dominican republic economy projected growth to reach 5%. Dominican republic public expenditure and financial. In 2014, the dominican republics economy grew at the fastest rate in latin america, driven by a continuing expansion of mining activity and strong growth in. The dominican republic continues to be one of the best performing countries in latin america in economic terms, with an average gdp growth of around 7% in the period of 2014 2016. Dominican republics real gdp growth is forecasted to be 0. The dominican republic was for most of its history primarily an exporter of sugar, coffee, and tobacco, but over the last three decades the economy has become more diversified as the service sector has overtaken agriculture as the economys largest employer, due to growth in construction, tourism, and free trade zones.
Privatesector credit growth has accelerated notably since the easing was implemented, averaging over 10% yearonyear in q3. The dominican republic has already achieved upgrades from all the major rating agencies in recent years and is. World bank national accounts data, and oecd national accounts data files. In the first quarter of 2017, the economy expanded by 5. The dominican republic occupies the more verdant and arable eastern twothirds of the island of hispaniola. Growth will ease this year from 2018s fouryear high, in line with slower u. Learn more about the dominican republic economy, including the population of dominican republic, gdp, facts, trade, business, inflation and other data and analysis on its economy from the index of. That the dominican republic can combine economic and political stability is an important part of the countrys appeal to international companies and investors. In 2018, dominican republic s real gross domestic product grew by around 6.
Dominican republic has fastest growing economy in latam. Ranking of the country dominican republic at the global level is from the highest to the lowest data. Despite its strong growth and macroeconomic stability, the country has not witnessed significant welfare improvements, until very recently. The statistic shows the growth in real gdp in dominican republic from 2014 to 2018, with projections up until 2024. The dominican republic is an upper middleincome 14 developing country primarily dependent on mining, agriculture, trade, and services. Dominican republic extractive industries transparency. The dominican republic gdp forecast 2017, economic data. Gdp per capita in the dominican republic with a population of 10,5,104 people was. Looking forward, we estimate gdp annual growth rate in dominican republic to stand at 2. Share in global gdp adjusted for ppp 2024 share of economic sectors in the gdp in dominican republic 2018. In the aftermath of the crisis, potential growth declined in most central american economies.
Dominican republic economy gdp, inflation, cpi and interest. Gdp annual growth rate in dominican republic is expected to be 1. Latin america and the caribbeans lac gdp will shrink by between 0. Country report 2017 includes the dominican republic real gross domestic product growth rate, with latest forecasts and historical data, gdp per capita, and gdp composition by sector. Below you will find the last recordings for the indicator. The economy in the dominican republic international living. The dr remains the most rapid economy in the region in 2014 and 2015, with a real gdp growth at 7 percent.
Dominican republic economic outlook economy data 2016. The report includes countryspecific threeyear forecasts for major macroeconomic indicators, including commodity and financial markets. The dominican republic and haiti share the island of hispaniola and are broadly similar in terms of geography and historical institutions, yet their growth performance has diverged remarkably. The dominican republic s economic growth has been one of the strongest in the lac region over the past 25 years. Rica, the dominican republic, honduras, and panama. Dominican republic gdp growth rate 19612020 macrotrends. The dominican republic s economy rebounded from the global recession in 201016, and the fiscal situation is improving. Dominican republic economy gdp, inflation, cpi and. The share of the population living on less than usd 5. Access the latest politics analysis and economic growth summary through 2011 for dominican republic from the economist intelligence unit dominican republic economy, politics and gdp growth summary the economist intelligence unit. Potential output growth estimates for central america and the dominican republic. Dominican republic does not publish any house price statistics.
Looking forward, we estimate gdp growth rate in dominican republic to stand at 0. The dominican republic dr has enjoyed strong economic growth in recent years, averaging 5. Chart 2 dominican republic gdp real growth rate, 19802011 % chart 3 balance of trade and remittances to the dominican republic, 20002010 usd million chart 4 trends in employment to population ratio, male and female, selected countries, 1991. Dominican republic unemployment rate moodys analytics. Dominica, for example, suffered damages and losses estimated at 226 percent of its annual gdp during the 2017 hurricane season. Dominican republic economy live and invest overseas. Looking forward, we estimate gdp annual growth rate in dominican republic to stand at. Dominican republic recent trends the dominican republic has improved in several development indicators in the past decades. The dominican republic is an upper middleincome developing country primarily dependent on mining, agriculture, trade, and services. Economic indicators for dominican republic including actual values, historical data charts, an economic calendar, timeseries statistics, business news, long term forecasts and shortterm predictions for dominican republic economy.