- The growth seen in the economy is due to the performance of activities such as construction (4.9%) and manufacturing of free zones (6.6%), highlighting that exports under this regime amounted to US$5,691.4 million during that period
The Central Bank reported that, up to August, economic activity reached a year-on-year growth of 5.1%, according to the preliminary results on economic activity for 2024.
In a press release, the monetary authority explained that the economic activity monthly indicator (IMAE) shows a 5.6% expansion during the month of August of this year, thus accumulating an average year-on-year growth of 5.1% for January-August 2024.
It indicated that this performance took place in an environment of price stability where inflation has remained in the lower part of the target range of 4.0% ± 1.0%.
The Central Bank stated that the growth reflected in the economy is due to the performance of activities such as construction (4.9%) and manufacturing of free zones (6.6%), highlighting that exports under this regime amounted to US$5,691.4 million during that period.
It added that service activities in general showed a cumulative increase of 5.4%, compared to the same period last year, including hotels, bars and restaurants (7.1%), transportation and storage (5.9%), real estate and rental activities (5.8%) and communications (5.3%). All activities registered positive year-on-year rates in the expansion of the IMAE by 5.6% in August, highlighting those that showed the highest growth: financial intermediation (8.7%), mining (8.5%), free zone manufacturing (8.1%), construction (6.9%), local manufacturing (6.8%), commerce (6.2%) and transportation (6.0%).
The report pointed out that economic activity highlights the resilience of the national productive apparatus in the face of the global context, where the expectations of economic agents have been affected by the uncertainty caused by geopolitical conflicts.
The highest growth in the region.
The expansion of the IMAE in January-August places the Dominican Republic as the economy with the highest year-on-year increase compared to its peers in Latin America.
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