The Dominican economy recorded a 5.1% expansion between January and April of this year, as reported by the Central Bank of the Dominican Republic (BCRD) on Thursday.
This growth is attributed to the dynamism of economic activity in April, with a year-on-year growth of 7.8%, the highest in the last 28 months and the best-performing period in the first four months of this year, indicated the monetary entity in a press release.
This growth, measured through the Monthly Economic Activity Index (IMAE), exceeded March’s growth by 6.2 percentage points, which was only 1.6%, influenced by the lower growth of the United States – the country’s main trading partner – and the effect of the Easter holiday.
Hotels and financial services lead in adding value:
The year-on-year variation from January to April 2024 was largely influenced by the activity of hotels, bars, and restaurants, with growth averaging 9.5% during that period, followed by financial services, which stood at 7.1%.
These sectors were followed by:
- Construction (6.4%)
- Real estate activities (6.1%)
- Free zones (6.0%)
- Energy and water (5.2%)
- Agriculture (3.9%)
- Commerce (3.1%)
- Local manufacturing (2.8%)
The only productive segment that registered a contraction during this four-month period is the export of mines and quarries, with a decline of 16.5%.
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