Ranking of the country dominican republic at the global level is from the highest to the lowest data. The dominican republic was the country with the largest growth of gross domestic product gdp in latin america and the caribbean in 2018. Jan 29, 2020 economic activity in latin america and the caribbean stagnated in 2019, continuing with the weak growth momentum of the previous five years and adding more urgency and new challenges to reignite growth. Chart 1 gdp per capita growth, selected countries, 19602011, 1960100 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. 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. Looking forward, we estimate gdp annual growth rate in dominican republic to stand at 1. Dominican republic economic growth 19602020 macrotrends. The economy of the dominican republic is the eighth largest in latin america, and is the largest in the caribbean and central america region. 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. Gdp at purchasers prices is the sum of gross value added by all resident producers in the economy plus any product taxes and minus any subsidies not included in the value of.
The dominican republic dr has enjoyed strong economic growth in recent years, averaging 5. The percentage change in gdp per capita for the latest 5 years for which data is published. Public finances are weak relative the the bb category. And to further highlight its progress, gdp growth in 2014 and 2015 hit 7. In 2018, dominican republic s real gross domestic product grew by around 6. Dominican republic public expenditure and financial. Annual percentage growth rate of gdp at market prices based on constant local currency. 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. In 2018, dominican republics real gross domestic product grew by around 6. 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. The macroeconomic prospects of select latin american and caribbean countries, forecast to 2026 report has been added to s offering. Indeed, real gdp per capita in the region has declined by 0. Apr 25, 2016 in the case of the dominican republic specifically, gdp growth for 2015 came in at a positive 7 percent. Apr 15, 2020 dominican republics macro performance is stronger than the current bb median.
Dominican republic economic indicators moodys analytics. Dominican republic gdp annual growth rate 19922019 data. The dominican republic s economy rebounded from the global recession in 201016, and the fiscal situation is improving. Mar 10, 2020 panama and the dominican republic are the bright spots in the region, with expected gdp growth levels of nearly 5%. 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.
Looking forward, we estimate gdp growth rate in dominican republic to stand at 0. Download the entire news release pdf 120kb 20022020 growth of real gross domestic product gdp in the oecd area slowed to 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. Over the last two decades, the dominican republic have been standing out as one of the fastest economies in the americas. Check out our country profile, full of essential information about dominican republic s geography, history, government, economy, population, culture, religion and languages.
Inflation dips in february but stays within the target range. Dominican republic economy gdp, inflation, cpi and interest. Browse additional economic indicators and data sets, selected by global finance editors, to learn more about the. The dominican republic is a caribbean representative democracy which enjoyed gdp growth of more than 7% in 19982000. Though dominica real gdp growth fluctuated substantially in recent years, it tended to decrease through 1999 2018 period ending at 0. Dominican republic economy 2020, cia world factbook. Gdp is the sum of gross value added by all resident producers in the economy plus any product taxes and minus. Dollars the economy rediscovers a spring in its step in q3. Over the last two decades, the dominican republic has had one of the fastestgrowing economies in the americas with an average real gdp growth rate of 5. Dominican republic economy, politics and gdp growth summary.
Infoplease has everything you need to know about dominican republic. The dominican republic is an upper middleincome developing country primarily dependent on mining, agriculture, trade, and services. 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 vs united states economy stats compared. Debt government debt gross government debt, share of gdp. The cia defines gdp as the value of all final goods and services produced within a nation in a given year and computed on the basis of purchasing power parity ppp rather than value as measured on the.
Country risk criteria procedures guide to bests country risk tiers the country risk tier crt reflects am bests assessment of three categories of risk. The percentage change in real gdp per capita for the latest year for which data is published. No date was available from the wikipedia article, so we used the date of retrieval. The dominican republic gdp forecast 2017, economic data. The economy of the dominican republic is the eighth largest in latin america, and is the.
General economics statistics are from the central bank of dominican republic. Gdp growth rate in dominican republic is expected to be 6. The latest data from q4 2019 show economic growth of 5. Panama and the dominican republic followed in the ranking of latin american and caribbean countries with the highest real gdp growth, both with. According to a preliminary estimate released by the central bank on 14 may, the economy expanded 5. The dr remains the most rapid economy in the region in 2014 and 2015, with a real gdp growth at 7 percent. Dec 04, 2019 panama and the dominican republic followed in the ranking of latin american and caribbean countries with the highest real gdp growth, both with an expected increase of more than five percent.
Dominican republic does not publish any house price statistics. Dominican republic gross domestic product gdp growth. Dominican republic gdp growth rate 19912019 data 2020. Dominican republic gross domestic product gdp growth rate. 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. Gdp annual growth rate in dominican republic is expected to be 5. Dominican republic economic growth, percent change in. Economic growth, percent change in quarterly real gdp in dominican republic, december, 2019. Growth ebbs in the first quarter but was likely still the fastest in the region.
Aug 29, 2017 from 1992 to 2014, the dominican republic enjoyed an average real gdp growth rate of 5. Growth subsequently plummeted as part of the global economic slowdown. The statistic shows the growth in real gdp in dominican republic from 2014 to 2018, with projections up until 2024. Is owning real estate in the dominican republic still a good. Gdp growth on an annual basis adjusted for inflation and expressed as a percent. What are the major imports of the dominican republic. Dominican republic economy live and invest overseas. Gdp annual growth rate in dominican republic averaged 5. Dominican republic gdp per capita usd focuseconomics. Despite its strong growth and macroeconomic stability, the country has not witnessed significant welfare improvements, until very recently. The dominican republic, a crt4 country, has a moderate level of economic risk, a high level of political.
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