The report states that in the first half of 2024, economic performance is primarily due to the expansion of the services sector by 5.5%, with the activity of hotels, bars, and restaurants increasing by 8.7%.<\/p>\n\n\n\n
The Ministry of Economy, Planning, and Development published the “Macroeconomic Situation Report: Economic Situation Monitoring” for July 2024, highlighting that during the first half of the year, the country recorded a cumulative growth of 5.1% in the Monthly Economic Activity Indicator (IMAE), which is 3.9 percentage points higher compared to the same period in 2023.<\/p>\n\n\n\n
The monthly publication, produced by the Vice Ministry of Economic and Social Analysis, reports that economic activity expanded by 6.2% year-on-year in June, due to the effects of monetary and fiscal policies that led to price stability, enabling a recovery in economic activity.<\/p>\n\n\n\n
The report outlines that in the first half of 2024, economic performance was mainly driven by a 5.5% expansion in the services sector, an 8.7% increase in the activity of hotels, bars, and restaurants, a 7.9% expansion in financial services, and a 5.9% growth in both free zone manufacturing and real estate and rental activities.<\/p>\n\n\n\n
In the first half of 2024, foreign exchange earnings increased by 6.5% compared to 2023. Tourism revenue grew by 14.1%, remittances by 4.4%, and foreign direct investment by 0.9%.<\/p>\n\n\n\n
According to the report, the depreciation rate of the Dominican peso against the US dollar showed a deceleration in July, with an annual increase of 5.1%, compared to previous months where it had been over 7.0%. The exchange rate in July was 58.98.<\/p>\n\n\n\n
Exports and Imports<\/strong><\/p>\n\n\n\n In July, the report indicates that exports increased by 13.2% year-on-year, surpassing US$1,162.1 million. Cumulatively, exports grew by 4.5% compared to January-July 2023, totaling approximately US$7,492.7 million.<\/p>\n\n\n\n Imports in July amounted to US$2,224.7 million, representing a 4.8% year-on-year growth.<\/p>\n","protected":false},"excerpt":{"rendered":" The report states that in the first half of 2024, economic performance is primarily due to the expansion of the services sector by 5.5%, with the activity of hotels, bars, and restaurants increasing by 8.7%. The Ministry of Economy, Planning,…<\/p>\n","protected":false},"author":9,"featured_media":10717,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[149],"tags":[],"class_list":["post-10716","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment-in-dr"],"acf":[],"yoast_head":"\n