The Dominican Republic's economy advanced 3.7 percent year-on-year in the second quarter of 2019, slowing from a 5.7 percent expansion in the previous period. It was the weakest growth rate since the third quarter of 2017, as household consumption (3.8 percent from 4.6 percent in Q1), government spending (2.9 percent from 5.1 percent) and gross fixed capital formation (5 percent from 9.1 percent) eased. Net trade contributed negatively to the GDP, as imports increased 6 percent (vs 6.8 percent in Q1) and exports rose at a softer 2 percent (vs 5 percent in Q1). GDP Annual Growth Rate in Dominican Republic averaged 5.53 percent from 1992 until 2019, reaching an all time high of 14 percent in the second quarter of 1992 and a record low of -3.40 percent in the second quarter of 2003.

GDP Annual Growth Rate in Dominican Republic is expected to be 5.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Dominican Republic to stand at 5.50 in 12 months time. In the long-term, the Dominican Republic GDP Annual Growth Rate is projected to trend around 4.70 percent in 2020, according to our econometric models.

Dominican Republic GDP Annual Growth Rate
Forecast Data Chart
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Dominican Republic GDP Last Previous Highest Lowest Unit
GDP Growth Rate 1.36 -1.12 12.65 -8.84 percent [+]
GDP Annual Growth Rate 3.70 5.70 14.00 -3.40 percent [+]
GDP 81.30 75.93 81.30 0.65 USD Billion [+]
GDP per capita 7750.93 7325.81 7750.93 1253.50 USD [+]
GDP per capita PPP 15821.20 14953.44 15821.20 5462.79 USD [+]
Gross Fixed Capital Formation 292233.93 267254.97 314134.55 4137.32 DOP Millions [+]
GDP Constant Prices 1123404.40 1088915.50 1128043.50 346180.10 DOP Millions [+]

Dominican Republic GDP Annual Growth Rate

The Dominican Republic is one of the fastest growing economies in the Caribbean. The most important sector of the economy is services, specifically tourism, finance and telecommunications. Mining has also been growing in importance, and ferronickel and gold production is expected to continue increasing. The Dominican Republic is also dependent on remittances and on revenues from the free-trade zones. This page provides - Dominican Republic GDP Annual Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Dominican Republic GDP Annual Growth Rate - actual data, historical chart and calendar of releases - was last updated on October of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
3.70 5.70 14.00 -3.40 1992 - 2019 percent Quarterly

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